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Benchmark Electronics, Inc. reports developments for a global engineering, design, and manufacturing services company serving advanced computing and communications, aerospace and defense, industrial, medical, and semiconductor capital equipment markets. News for BHE commonly covers quarterly and annual results, revenue outlook, margin and cash-flow commentary, customer programs, U.S.-based manufacturing partnerships, technology leadership, and quarterly cash dividends. The company describes solutions across the product lifecycle, combining engineering services, supply-chain capabilities, and manufacturing operations in facilities across seven countries.
Benchmark Electronics (NYSE: BHE) has appointed Bryan Schumaker as its new Chief Financial Officer, effective October 8, 2024. Schumaker brings over 20 years of financial and leadership experience to the role. He previously served as CFO at SOURCE Global, where he transformed financial operations and contributed to quadrupling revenue growth. His prior roles include CFO positions at TPI Composites and 8point3 Energy Partners.
At Benchmark, Schumaker will oversee financial operations, strategic planning, capital structure management, and investor relations. His appointment aligns with Benchmark's commitment to enhancing leadership strength as the company expands operations. Schumaker holds a Bachelor's degree in Accounting and is a Certified Public Accountant.
Benchmark Electronics (NYSE: BHE) celebrated the grand opening of its fourth facility in Penang, Malaysia. This new 8,000+ sq. meter facility will focus on serving customers in semiconductor capital equipment and commercial aerospace sectors. It enhances Benchmark's capacity and expertise in the APAC region, allowing for vertical integration of key capabilities.
The expansion aims to support the anticipated growth of the semiconductor industry in 2025 and beyond. The facility will offer advanced capabilities such as e-beam welding, large form factor 5-axis machining, and type-2 cleaning. It will also establish one of the largest welding and frame manufacturing centers in the region.
Benchmark plans to hire up to 200 people over the next few years, adding to its current workforce of about 1,500 in Penang. This expansion brings Benchmark's total production space in Penang to over 40,000 sq. meters.
Benchmark Electronics (NYSE: BHE) has announced a quarterly cash dividend of $0.17 per share for the third quarter of 2024. The dividend will be payable on October 11, 2024, to shareholders of record at the close of business on September 30, 2024. This announcement demonstrates the company's commitment to returning value to its shareholders through regular dividend payments. The decision to maintain the dividend at this level may indicate stability in Benchmark Electronics' financial position and confidence in its future prospects.
Benchmark Electronics (NYSE: BHE) reported solid Q2 2024 results with revenue of $666 million and GAAP earnings per share of $0.43. The company generated $56 million in operating cash flow and $47 million in free cash flow. Gross margin stood at 10.2%, while GAAP and non-GAAP operating margins were 4.1% and 5.1%, respectively. The Board of Directors increased the quarterly dividend from $0.165 to $0.17 per share. Despite market uncertainties, Benchmark remains focused on executing for customers, protecting margins, reducing inventories, and delivering positive free cash flow, which is now expected to exceed $120 million in FY 2024. The company provided Q3 2024 guidance with revenue between $630-$670 million and diluted GAAP EPS between $0.36-$0.42.
Benchmark Electronics (NYSE: BHE) has announced it will release its second quarter 2024 financial results on Tuesday, July 30, 2024, after the market closes. The company will host a conference call and live audio webcast on the same day at 5:00 p.m. Eastern Time to discuss the results.
Investors and analysts can access the call via a toll-free dial-in number (800-791-4799) using the conference ID 61229. A live webcast of the call, along with supporting materials, will be available on the Benchmark Investor Relations website. Pre-registration for the webcast is recommended.
Following the call, a webcast replay will be accessible on the company's website for 12 months, providing an opportunity for those unable to attend the live event to review the discussion and results.
Benchmark Electronics (NYSE: BHE) has declared a second quarter 2024 cash dividend of $0.165 per share.
This dividend will be payable on July 12, 2024, to shareholders of record as of June 28, 2024. The announcement was made on June 10, 2024, by the company's Board of Directors.
Benchmark Electronics, Inc. reported strong financial results for the first quarter of 2024, with revenue of $676 million, positive free cash flow, and earnings per share of $0.38. The company's focus on operational efficiency and strategic investments led to year-over-year improvements in gross and operating margins. Despite revenue decreases in certain sectors, the company remains committed to delivering long-term value to customers and shareholders.
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