Benchmark Electronics (NYSE: BHE) reported Q1 EPS of $0.22, $0.02 better than the analyst estimate of $0.20. Revenue for the quarter came in at $505.72 million versus the consensus estimate of $502.33 million.

"We delivered another solid quarter of revenue, earnings, and cash generation in line with our expectations," said Jeff Benck, Benchmark's President and CEO. "We are particularly pleased with continued strength in the Semi-Cap market where revenues were up 37% year-over-year in the first quarter and are now forecasted to be up greater than 20% for the full year 2021."

Benck continued, "Overall demand across many of our market sectors is strengthening and we expect this to continue through the year. In the near-term, we are proactively working with our customers and suppliers to manage supply chain constraints. We remain focused on our strategic objectives which gives us confidence that we will grow revenue, margins, and earnings in 2021."

GUIDANCE:

Benchmark Electronics sees Q2 2021 EPS of $0.23-$0.29, versus the consensus of $0.24. Benchmark Electronics sees Q2 2021 revenue of $515-555 million, versus the consensus of $515.67 million.

• Revenue between $515 - $555 million
• Diluted GAAP earnings per share between $0.18 - $0.24
• Diluted non-GAAP earnings per share between $0.23 - $0.29 (excluding restructuring charges and other costs and amortization of intangibles)
• This guidance takes into consideration all known constraints for the quarter and assumes no further significant interruptions to our supply base, operations or customers. Guidance also assumes no material changes to end market conditions due to COVID-19.

Restructuring charges are expected to range between $0.8 million and $1.2 million in the second quarter and the amortization of intangibles is expected to be $1.7 million in the second quarter.

For earnings history and earnings-related data on Benchmark Electronics (BHE) click here.