Electronics manufacturing services provider Benchmark (NYSE: BHE) will be reporting earnings this Tuesday after market hours. Here’s what to expect.
Benchmark beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $680.7 million, up 3.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Benchmark a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Benchmark’s revenue to grow 6.1% year on year to $696.7 million, a reversal from the 5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Benchmark has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Benchmark’s peers in the tech hardware & electronics segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 49.1%, beating analysts’ expectations by 3.3%, and Plexus reported revenues up 9.6%, in line with consensus estimates. Amphenol traded down 10% following the results while Plexus was up 9.3%.
Read our full analysis of Amphenol’s results here and Plexus’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices flat over the last month. Benchmark is up 17.8% during the same time and is heading into earnings with an average analyst price target of $52 (compared to the current share price of $52.16).
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