Key Takeaways
- • Benchmark Electronics (NYSE: BHE) reported record third-quarter 2026 revenue of $811 million, up 19% year-over-year, for the quarter ended September 30, 2026.
- • Diluted non-GAAP EPS rose 35% year-over-year to $0.84, while diluted GAAP EPS of $0.47 grew 21%, with management stating earnings grew at nearly twice the rate of sales.
- • Management raised its fiscal 2026 outlook, now expecting revenue growth of approximately 16%, above the $3 billion annual revenue level set last quarter.
- • Fourth-quarter 2026 guidance calls for revenue of $815 million to $855 million and non-GAAP diluted EPS of $0.85 to $0.91.
- • Q3 operating cash flow was $30 million and free cash flow was $14 million.
Summary
Benchmark Electronics, Inc. (NYSE: BHE) announced financial results for the third quarter ended September 30, 2026, reporting record quarterly revenue of $811 million, up 19% from a year earlier. Diluted GAAP earnings per share were $0.47, up 21% year-over-year, while diluted non-GAAP EPS reached $0.84, up 35%. Operating cash flow for the quarter was $30 million, and free cash flow was $14 million.
Commenting on the results, President and CEO David Moezidis said the quarter reflected the continued transformation of Benchmark into a higher-performing company. He cited broadening demand across the portfolio, healthy bookings momentum, and record quarterly revenue, noting that earnings grew at nearly twice the rate of sales. Moezidis said the company now expects 2026 revenue growth of approximately 16%, further increasing its outlook beyond the $3 billion annual revenue level established the prior quarter.
For the fourth quarter of 2026, Benchmark guided to revenue between $815 million and $855 million, diluted GAAP EPS between $0.58 and $0.64, and diluted non-GAAP EPS between $0.85 and $0.91. The non-GAAP guidance excludes stock-based compensation expense of approximately $7.8 million and other non-operating expenses of $2.7 million to $3.2 million, which include restructuring, amortization of intangibles and other items.
Benchmark serves advanced computing and communications, aerospace and defense, industrial, medical, and semiconductor capital equipment markets, with operations in eight countries. The company hosted a conference call to discuss the results at 5:00 p.m. Eastern Time on the day of the announcement. The press release contains forward-looking statements subject to risks including customer demand fluctuations, supply chain constraints, inflation, tariffs, currency movements, and geopolitical uncertainty.
Commenting on the results, President and CEO David Moezidis said the quarter reflected the continued transformation of Benchmark into a higher-performing company. He cited broadening demand across the portfolio, healthy bookings momentum, and record quarterly revenue, noting that earnings grew at nearly twice the rate of sales. Moezidis said the company now expects 2026 revenue growth of approximately 16%, further increasing its outlook beyond the $3 billion annual revenue level established the prior quarter.
For the fourth quarter of 2026, Benchmark guided to revenue between $815 million and $855 million, diluted GAAP EPS between $0.58 and $0.64, and diluted non-GAAP EPS between $0.85 and $0.91. The non-GAAP guidance excludes stock-based compensation expense of approximately $7.8 million and other non-operating expenses of $2.7 million to $3.2 million, which include restructuring, amortization of intangibles and other items.
Benchmark serves advanced computing and communications, aerospace and defense, industrial, medical, and semiconductor capital equipment markets, with operations in eight countries. The company hosted a conference call to discuss the results at 5:00 p.m. Eastern Time on the day of the announcement. The press release contains forward-looking statements subject to risks including customer demand fluctuations, supply chain constraints, inflation, tariffs, currency movements, and geopolitical uncertainty.
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