Electronics manufacturing services provider Benchmark (NYSE: BHE) will be reporting results this Wednesday after market close. Here’s what to look for.
Benchmark met analysts’ revenue expectations last quarter, reporting revenues of $677.3 million, up 7.2% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Benchmark a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Benchmark’s revenue to grow 12.1% year on year, a reversal from the 3.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Benchmark has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Benchmark’s peers in the tech hardware & electronics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Knowles delivered year-on-year revenue growth of 14.3%, beating analysts’ expectations by 6.3%, and Jabil reported revenues up 11.8%, topping estimates by 2.3%. Knowles traded down 3.6% following the results while Jabil’s stock price was unchanged.
Read our full analysis of Knowles’s results here and Jabil’s results here.
There has been positive sentiment among investors in the tech hardware & electronics segment, with share prices up 3.2% on average over the last month. Benchmark is down 14.8% during the same time and is heading into earnings with an average analyst price target of $78 (compared to the current share price of $81.03).
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