Filing Flows › Benchmark Electronics (BHE) › Q2 2025
Benchmark Electronics (BHE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Benchmark Electronics (BHE) reported revenue of $642M for the second quarter 2025 (Q2 2025), -4% from a year earlier and +2% from the quarter before. Operating margin was 3.2%, net earnings $972K (0.2% of revenue).
Benchmark Electronics, Q2 2025: revenue $642M (-4% year over year), operating margin 3.2%, net earnings $972K, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $642M | +2% | -4% |
| Gross profit | $64.8M | +3% | -5% |
| Operating profit | $20.5M | +74% | -25% |
| Net earnings | $972K | -73% | -94% |
| Operating cash flow | −$2.8M | -109% | — |
What changed
Revenue was $642.3M in Q2 2025, down 4% year over year and up 2% from the previous quarter.
Gross margin was 10.1%, down 0.1 points from a year earlier. Operating profit was $20.5M, a 3.2% margin (down 0.9 points year over year). Operating expenses grew 9% against a revenue fall of 4%. The fastest-growing cost line was Other operating costs (+39%). Net earnings were $1.0M, down 94% year over year. The effective tax rate was 94.1%.
Operating cash flow was −$2.8M. Non-cash charges added back $12.0M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items used $21.1M. Capital expenditures of $12.3M exceeded it, leaving free cash flow of −$15.1M.
Questions
What was Benchmark Electronics' revenue in the second quarter 2025?
Benchmark Electronics (BHE) reported revenue of $642M for the second quarter 2025 (Q2 2025), -4% from a year earlier and +2% from the quarter before.
Was Benchmark Electronics profitable in the second quarter 2025?
Operating profit was $20.5M (3.2% of revenue) and net earnings $972K.