BHE earnings analysis
What we found in BHE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Benchmark Electronics, Inc. reported Q1 2026 revenues of $677.3 million, a 7% increase year-over-year, and an EPS of $0.58, exceeding estimates. The company raised its full-year revenue growth guidance, citing improved performance and demand in key sectors such as Medical and Advanced Computing.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 7% YoY
- Total revenue reached $677.3 million, up from $631.8 million in Q1 2025.
- Strong EPS Performance
- Diluted EPS rose to $0.58 from $0.10 YoY, significantly exceeding the $0.55 estimate.
- Increased Gross Profit
- Gross profit increased to $69.2 million, a 10% increase compared to $63.2 million in Q1 2025.
- Operating Income up 86%
- Operating income rose to $21.9 million from $11.8 million YoY.
- Medical Segment Surged 24%
- Medical sales increased to $128.5 million from $103.6 million YoY.
- AC&C Segment Grew 41%
- Advanced Computing & Communications segment revenue increased to $105.1 million from $74.5 million YoY.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Semiconductor Capital Equipment Sales
- Sales in this segment decreased by 2% to $190.7 million from $195.1 million YoY.
- Increased Restructuring Costs
- Restructuring charges rose to $3.7 million in Q1 2026 from $1.3 million in Q1 2025.
- High Interest Rate Environment
- Interest expense decreased to $3.6 million but remains subject to fluctuations in the term loan.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.58
- Gross margin
- 10.2%
- Operating margin
- 3.2%
- Segment
- Medical
- Segment
- AC&C
- Segment
- Industrial
- Segment
- Semi-Cap
- Segment
- A&D
What they said about what is next.
Second quarter revenue guidance between $700 million and $740 million; EPS guidance of $0.51 to $0.57 (GAAP). Non-GAAP EPS guidance is $0.65 to $0.71.
The filing reads better than the one before it.
What came before.
- 10-K · February 24, 2026
- Benchmark positions itself as a complex-product EMS and precision metal machining partner focused on regulated, high-reliability markets (A&D, medical, semi-cap, industrial, AC&C) and leading with design & engineering…
- 10-Q · November 2, 2023
- Benchmark Electronics reported quarterly sales of $719,695,000 and diluted EPS of $0.57 for the three months ended September 30, 2023. Gross profit rose to $69,077,000 and income from operations increased to $30,341,000…
- 10-Q · August 3, 2023
- Benchmark Electronics reported Q2 sales of $733.232 million, up modestly from $728.029 million a year earlier, with gross profit rising to $67.031 million and gross margin expanding to 9.14%. Operating income increased…
- 10-K · February 24, 2023
- Benchmark Electronics positions itself as an engineering-led, full life-cycle solutions provider focused on lower-volume, higher-complexity products in regulated end markets (A&D, medical, complex industrials, semi-cap,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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