Benchmark Electronics, Inc. (NYSE:BHE) Q4 2022 Earnings Conference Call February 1, 2023 5:00 PM ET Company Participants Paul Mansky – Investor Relations and Corporate Development Jeff Benck – President and Chief Executive Officer Roop Lakkaraju – Executive Vice President and Chief Financial Officer Conference Call Participants Jaeson Schmidt – Lake Street Steven Fox – Fox Advisors Chris Grenga – Needham & Company Anja Soderstrom – Sidoti Operator Good day and welcome to the Benchmark Electronics, Inc. Four ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to________________ Commission File Number: 1-10560 BENCHMARK ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Te ...

Benchmark Benchmark Electronics Q3-22 Earnings Results October 26, 2022 | 1 Copyright © 2022 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark. Forward-Looking 2022 Statements | 2 This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identifi ...

Financial Data and Key Metrics Changes - Revenue for Q3 2022 was $772 million, an increase of nearly $200 million compared to the same quarter last year, representing a 35% year-over-year growth [8][12] - Non-GAAP earnings increased by 46% year-over-year, with non-GAAP EPS at $0.57, which is $0.05 above the midpoint of guidance [8][18] - GAAP EPS for the quarter was $0.53, reflecting a 130% growth year-over-year [16] - Non-GAAP gross margin improved by 50 basis points sequentially to 8.6% [17] - Non-GAAP ROIC was 9.8%, a 20 basis point increase sequentially and a 200 basis point improvement year-over-year [21] Business Line Data and Key Metrics Changes - Medical revenues were flat sequentially but increased by 41% year-over-year due to growth with existing customers and new program ramps [12] - Semi-Cap revenues increased by 7% sequentially and 39% year-over-year, driven by high demand for precision machining and electromechanical assembly services [13] - A&D revenues decreased by 4% sequentially and 14% year-over-year due to supply chain constraints [13] - Industrials revenue was down 2% sequentially but up 44% year-over-year, supported by demand improvements from energy-related products [14] - Computing revenues increased by 38% sequentially and 67% year-over-year, while telco revenues were up 20% sequentially and 52% year-over-year [15] Market Data and Key Metrics Changes - The company expects full-year revenue growth of around 30% and earnings of $2.11, representing year-over-year earnings growth of over 55% [10] - The midpoint of Q4 2022 guidance anticipates revenue between $760 million and $800 million, reflecting a 23% year-over-year growth [26] - Supply chain premiums incurred in Q3 2022 were approximately $74 million, a decrease of $17 million sequentially but an increase of $48 million year-over-year [19] Company Strategy and Development Direction - The company is focusing on high-value subsectors within computing and telco, particularly high-performance computing and next-generation networking [15] - The strategy includes capturing new wins and addressing high-growth markets with innovative products [9][45] - The company is optimistic about long-term growth in the semiconductor sector, driven by new program wins and strong secular drivers [38] Management's Comments on Operating Environment and Future Outlook - Management noted robust demand across most market sectors, despite some constraints in semiconductor families [10] - The company is cautiously optimistic about the future, expecting continued revenue growth and improved supply chain conditions [10][36] - Management acknowledged potential risks from recession and inflation but believes the company's diversification will provide stability [36] Other Important Information - The company plans to generate positive cash flow from operations and free cash flow in fiscal year 2023 [24] - Cash balance was $249 million as of September 30, with $131 million outstanding on the term loan and $170 million on the revolver [24] Q&A Session Summary Question: Signs of slowing in the Semi-Cap space - Management acknowledged seeing signs of reduced spending in the Semi-Cap sector but emphasized strong new wins in 2022 that will contribute to revenue in 2023 [47][48] Question: Growth from engineering design services - Over 75% of recent wins were tied to engineering services, indicating strong growth in this area alongside manufacturing [50][52] Question: Impact of supply chain on margins - Supply chain premiums were lower sequentially, but some constraints remain, particularly in critical semiconductor areas [59][62] Question: Effects of U.S. semiconductor restrictions on China - Management noted potential near-term risks due to new U.S. restrictions but emphasized the company's diversified portfolio [67] Question: Trends in unfulfilled demand - Over $200 million of unfulfilled demand remains, but management is optimistic about fulfilling this as supply chain constraints ease [70][73] Question: Impact of recession on outsourcing - Historically, recessions have led to increased outsourcing as OEMs evaluate efficiency and cost-effectiveness [81][83] Question: Demand drivers for outsourcing solutions - Demand is driven by both supply chain relationships and engineering capabilities, with a focus on near-shoring and reshoring [89][90] Question: Component shortages in A&D - Component shortages in A&D are primarily due to regulatory processes that delay substitutions, particularly in defense contracts [92][93]

Benchmark Oppenheimer 25th Annual Technology, Internet & Communications Conference August 10, 2022 | 1 Copyright © 2022 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark. Forward-Looking 2022 Statements | 2 This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-look ...

Benchmark Benchmark Electronics Q2-22 Earnings Results August 3, 2022 | 1 Copyright © 2022 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark. Forward-Looking 2022 Statements | 2 This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified ...

Financial Data and Key Metrics Changes - Revenue for Q2 2022 was $728 million, exceeding guidance by nearly $100 million and increasing by over $180 million year-over-year, representing a 34% growth [9][17] - Non-GAAP gross margin was 8.1%, impacted by supply chain premiums, with an adjusted gross margin of 9.2% if excluding these effects [11][12] - Non-GAAP earnings per share (EPS) was $0.50, an 85% increase from $0.27 in the same period last year [13][27] - The company expects full-year revenue growth of 20% or greater and non-GAAP EPS of $2 or better, which would be a record for the company [16][64] Business Line Data and Key Metrics Changes - Medical revenues increased 42% sequentially and 53% year-over-year, driven by growth with existing customers and new program ramps [17][53] - Industrial revenues rose 16% sequentially and 59% year-over-year, fueled by demand for energy-related products [19] - Computing revenues grew 25% sequentially and 73% year-over-year, supported by high-performance computing program ramps [20] - Aerospace and Defense (A&D) revenues increased 11% sequentially but decreased 7% year-over-year due to supply chain constraints [18] Market Data and Key Metrics Changes - The top 10 customers represented 53% of sales in Q2 2022 [21] - Approximately $91 million of revenue was attributed to pass-through revenue from supply chain premiums, which is expected to normalize in 2023 [22][28] - The company anticipates strong demand indicators across most market sectors, with over $200 million of demand unfulfilled due to supply constraints [14][35] Company Strategy and Development Direction - The company is focusing on higher value markets with complex programs, which has resulted in a more diversified portfolio and stronger long-term growth potential [49][61] - Significant investments in capital and operational efficiency are expected to support growth in the semi-cap sector, with revenues projected to grow over 25% for the full year [52] - The company aims to achieve all performance metrics of its midterm target model by the end of 2022, with expectations for improved gross and operating margins [59][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning within resilient industrial and enterprise markets despite potential recession risks [15][48] - The company is optimistic about demand trends, with no significant slowdown observed from customers, and expects to grow greater than 20% for the full year [63][64] - Management highlighted the importance of navigating supply chain challenges and maintaining operational efficiency to meet customer demand [63] Other Important Information - The company plans to host an Analyst Day on November 8, commemorating its 25th year listed on the NYSE [72] - Cash balance was $264 million as of June 30, with expectations to generate cash flow from operations in fiscal year 2023 [33][32] Q&A Session Summary Question: Which end market is least resistant to an economic slowdown? - Management indicated that the compute and telco markets might be more sensitive to a slowdown, but high-performance computing and next-gen broadband solutions are expected to remain resilient [67] Question: How are new program wins balanced between new logos and existing customers? - Management noted a balanced approach, with incremental wins from existing blue-chip customers and organic growth from new clients, particularly in the semi-cap sector [68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to________________ Commission File Number: 1-10560 BENCHMARK ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Texas 7 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to________________ | --- | --- | |---------------------------------------------------------------------------------------------------------- ...

Benchmark Benchmark Electronics Q1-22 Earnings Results April 26, 2022 | 1 Copyright © 2022 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark. Forward-Looking 2022 Statements | 2 This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified ...