Benchmark Electronics Q2 results beat estimates, raises FY revenue forecast
BHE•Drivers cited by the company
Benchmark Electronics said strengthening demand across end markets contributed to revenue growth.
The company also reported another record quarter of bookings, supporting results, and cited disciplined execution and broad-based improvement throughout its portfolio.
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the electronic equipment & parts peer group is "buy".
Wall Street's median 12-month price target for Benchmark Electronics Inc is $86.00, about 11.8% above its July 28 closing price of $76.93.
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 21 three months ago.
Quarterly results beat estimates
Benchmark Electronics reported second-quarter revenue up 18% year over year, beating analyst expectations, and adjusted EPS rose 36% year over year, also beating estimates.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Beat | $756 mln | $720 mln (4 Analysts) |
| Q2 Adjusted EPS | Beat | $0.75 | $0.69 (4 Analysts) |
| Q2 EPS | $0.55 |
