Filing Flows › Benchmark Electronics (BHE) › Q3 2025
Benchmark Electronics (BHE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Benchmark Electronics (BHE) reported revenue of $681M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +6% from the quarter before. Operating margin was 3.5%, net earnings $14.3M (2.1% of revenue).
Benchmark Electronics, Q3 2025: revenue $681M (+4% year over year), operating margin 3.5%, net earnings $14.3M, operating cash flow $36.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $681M | +6% | +3% |
| Gross profit | $67.9M | +5% | +2% |
| Operating profit | $23.7M | +15% | -16% |
| Net earnings | $14.3M | 15× | -7% |
| Operating cash flow | $36.6M | — | -6% |
| Free cash flow | $25.1M | — | -14% |
What changed
Revenue was $680.7M in Q3 2025, up 3% year over year and up 6% from the previous quarter.
Gross margin was 10.0%, down 0.2 points from a year earlier. Operating profit was $23.7M, a 3.5% margin (down 0.8 points year over year). Operating profit fell $4.4M even though revenue rose $22.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 15% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+38%). Net earnings were $14.3M, down 7% year over year. The effective tax rate was 30.7%.
Operating cash flow was $36.6M (down 6% year over year), 257% of net earnings. Non-cash charges added back $11.8M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $5.2M. Capital expenditures of $11.5M left free cash flow of $25.1M.
Questions
What was Benchmark Electronics' revenue in the third quarter 2025?
Benchmark Electronics (BHE) reported revenue of $681M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +6% from the quarter before.
Was Benchmark Electronics profitable in the third quarter 2025?
Operating profit was $23.7M (3.5% of revenue) and net earnings $14.3M.