Benchmark Electronics Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Benchmark Electronics Inc. filed its Q1 2024 10-Q report on May 3, 2024, detailing financial performance and segment data.</b>

AI Summary

BENCHMARK ELECTRONICS INC (BHE) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Benchmark Electronics Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial statement items and segments. Key dates mentioned include May 3, 2024 (filing date) and March 31, 2024 (period end). The company's SIC code is 3672 (Printed Circuit Boards). Benchmark Electronics Inc. is incorporated in Texas.

Why It Matters

For investors and stakeholders tracking BENCHMARK ELECTRONICS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial information, crucial for assessing the company's performance and making informed investment decisions. Understanding the segment data and financial metrics within this report is essential for evaluating Benchmark Electronics' operational health and strategic direction.

Risk Assessment

Risk Level: medium — BENCHMARK ELECTRONICS INC shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance figures in the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing to analyze specific revenue, net income, and debt figures to assess Benchmark Electronics' financial health and operational performance.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 3672 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• TX — State of Incorporation (STATE OF INCORPORATION)

Key Players & Entities

• BENCHMARK ELECTRONICS INC (company) — COMPANY CONFORMED NAME
• BHE (company) — tk
• 2024-05-03T00:00:00.000Z (date) — dt
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 0000863436 (company) — CENTRAL INDEX KEY
• 3672 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• TX (location) — STATE OF INCORPORATION
• 56 SOUTH ROCKFORD DRIVE (address) — BUSINESS ADDRESS STREET 1

FAQ

Industry Context

Benchmark Electronics Inc. operates in the manufacturing sector, specifically within the Printed Circuit Boards industry (SIC 3672).

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the detailed financial statements within the full 10-Q for revenue, expenses, and profitability.
2. Examine segment reporting to understand performance across different geographical regions and industries.
3. Review any disclosed risk factors or management discussion and analysis for insights into operational challenges and strategies.

Key Dates

• 2024-05-03: 10-Q Filing — Filing date for the quarterly report ending March 31, 2024.
• 2024-03-31: End of Reporting Period — The period covered by the 10-Q filing.

Year-Over-Year Comparison

This is the first 10-Q filing provided for analysis in this session, so a comparison to a previous filing is not possible with the given data.

Key Financial Figures

• $0.10 — ch registered Common Stock, par value $0.10 per share BHE The New York Stock Ex

Filing Documents

• bhe-20240331.htm (10-Q) — 1834KB
• bhe-ex31_1.htm (EX-31.1) — 14KB
• bhe-ex31_2.htm (EX-31.2) — 14KB
• bhe-ex32_1.htm (EX-32.1) — 7KB
• bhe-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-052438.txt (&nbsp;) — 9588KB
• bhe-20240331.xsd (EX-101.SCH) — 1286KB
• bhe-20240331_htm.xml (XML) — 2051KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Shareholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to the Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 5. Other Information Item 6. Exhibits 33

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. BENCHMARK ELECTRONICS, INC. AND SUBSIDIARIES Condensed Consolida ted Balance Sheets (unaudited) March 31, December 31, (in thousands, except par value) 2024 2023 Assets Current assets: Cash and cash equivalents $ 296,055 $ 277,391 Restricted cash — 5,822 Accounts receivable, net of allowance for doubtful accounts of $ 390 and $ 470 , respectively 417,396 449,404 Contract assets 180,814 174,979 Inventories 637,675 683,801 Prepaid expenses and other current assets 46,673 44,350 Total current assets 1,578,613 1,635,747 Property, plant and equipment, net 223,992 227,698 Operating lease right-of-use assets 128,395 130,830 Goodwill 192,116 192,116 Deferred income taxes 27,873 26,943 Other long-term assets 61,821 61,421 Total assets $ 2,212,810 $ 2,274,755 Liabilities and Shareholders' Equity Current liabilities: Current installments of long-term debt $ 5,105 $ 4,283 Accounts payable 348,374 367,480 Advance payments from customers 189,153 204,883 Income taxes payable 24,400 22,225 Accrued liabilities 100,787 114,676 Total current liabilities 667,819 713,547 Long-term debt, net of current installments 310,117 326,674 Operating lease liabilities 119,958 123,385 Other long-term liabilities 29,749 32,064 Shareholders' equity: Preferred stock, $ 0.10 par value; 5,000 shares authorized, none issued — — Common stock, $ 0.10 par value; 145,000 shares authorized; issued and outstanding – 36,014 and 35,664 , respectively 3,601 3,566 Additional paid-in capital 525,596 528,842 Retained earnings 568,590 560,537 Accumulated other comprehensive loss ( 12,620 ) ( 13,860 ) Total shareholders' equity 1,085,167 1,079,085 Total liabilities and shareholders' equity $ 2,212,810 $ 2,274,755 See the accompanying notes to the unaudited condensed con

View Full Filing

View this 10-Q filing on SEC EDGAR