Filing Flows › Benchmark Electronics (BHE) › Q1 2025
Benchmark Electronics (BHE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Benchmark Electronics (BHE) reported revenue of $632M for the first quarter 2025 (Q1 2025), -6% from a year earlier and -4% from the quarter before. Operating margin was 1.9%, net earnings $3.6M (0.6% of revenue).
Benchmark Electronics, Q1 2025: revenue $632M (-6% year over year), operating margin 1.9%, net earnings $3.6M, operating cash flow $31.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $632M | -4% | -6% |
| Gross profit | $63.2M | -7% | -6% |
| Operating profit | $11.8M | -59% | -54% |
| Net earnings | $3.6M | -78% | -74% |
| Operating cash flow | $31.5M | -31% | -35% |
| Free cash flow | $27.3M | — | -36% |
What changed
Revenue was $631.8M in Q1 2025, down 6% year over year and down 4% from the previous quarter.
Gross margin was 10.0%, unchanged from a year earlier. Operating profit was $11.8M, a 1.9% margin (down 1.9 points year over year). Operating expenses grew 23% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+178%). Net earnings were $3.6M, down 74% year over year. The effective tax rate was 56.6%.
Operating cash flow was $31.5M (down 35% year over year), 865% of net earnings. Non-cash charges added back $11.8M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items added $11.7M. After itions to property, plant and equipment and software ($4.2M), free cash flow as the company reports it was $27.3M.
Questions
What was Benchmark Electronics' revenue in the first quarter 2025?
Benchmark Electronics (BHE) reported revenue of $632M for the first quarter 2025 (Q1 2025), -6% from a year earlier and -4% from the quarter before.
Was Benchmark Electronics profitable in the first quarter 2025?
Operating profit was $11.8M (1.9% of revenue) and net earnings $3.6M.