Benchmark Electronics Q3 Update: Liabilities and Credit Facilities

TL;DR

BENCHMARK ELECTRONICS Q3: Debt facilities in focus, watch for credit health.

AI Summary

Benchmark Electronics Inc. reported its Q3 results for the period ending September 30, 2024. The company's financial statements indicate various liabilities and credit facilities, including a revolving credit facility and a term loan facility. A subsequent event on October 11, 2024, is also noted.

Why It Matters

This filing provides insight into Benchmark Electronics' financial health and its ability to manage its debt obligations, which can impact investor confidence and future growth prospects.

Risk Assessment

Risk Level: medium — The filing details various debt obligations and credit facilities, which inherently carry financial risk.

Key Numbers

• 364 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)
• Q3 — Quarter (Refers to the third quarter financial reporting period.)

Key Players & Entities

• BENCHMARK ELECTRONICS INC (company) — Filer
• 0000863436 (company) — Central Index Key
• 2024-09-30 (date) — Reporting Period End Date
• 2024-10-31 (date) — Filing Date
• 56 SOUTH ROCKFORD DRIVE (location) — Business Address
• TEMPE, AZ (location) — Business Address City and State
• 623-300-7000 (phone_number) — Business Phone
• 2024-10-11 (date) — Subsequent Event Date

FAQ

Key Financial Figures

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

Filing Documents

• bhe-20240930.htm (10-Q) — 2567KB
• bhe-ex10_1.htm (EX-10.1) — 8KB
• bhe-ex31_1.htm (EX-31.1) — 15KB
• bhe-ex31_2.htm (EX-31.2) — 16KB
• bhe-ex32_1.htm (EX-32.1) — 7KB
• bhe-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-119684.txt ( ) — 11960KB
• bhe-20240930.xsd (EX-101.SCH) — 1263KB
• bhe-20240930_htm.xml (XML) — 2896KB

—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 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 32

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 5. Other Information Item 6. Exhibits 34

- 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) September 30, December 31, (in thousands, except par value) 2024 2023 Assets Current assets: Cash and cash equivalents $ 324,423 $ 277,391 Restricted cash — 5,822 Accounts receivable, net of allowance for doubtful accounts of $ 241 and $ 470 , respectively 372,276 449,404 Contract assets 186,538 174,979 Inventories 581,901 683,801 Prepaid expenses and other current assets 43,569 44,350 Total current assets 1,508,707 1,635,747 Property, plant and equipment, net 224,164 227,698 Operating lease right-of-use assets 122,117 130,830 Goodwill 192,116 192,116 Deferred income taxes 33,573 26,943 Other long-term assets 68,320 61,421 Total assets $ 2,148,997 $ 2,274,755 Liabilities and Shareholders' Equity Current liabilities: Current installments of long-term debt $ 6,751 $ 4,283 Accounts payable 356,038 367,480 Advance payments from customers 145,350 204,883 Income taxes payable 23,865 22,225 Accrued liabilities 107,127 114,676 Total current liabilities 639,131 713,547 Long-term debt, net of current installments 272,000 326,674 Operating lease liabilities 114,181 123,385 Other long-term liabilities 21,009 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 – 35,969 and 35,664 , respectively 3,597 3,566 Additional paid-in capital 532,417 528,842 Retained earnings 583,737 560,537 Accumulated other comprehensive loss ( 17,075 ) ( 13,860 ) Total shareholders' equity 1,102,676 1,079,085 Total liabilities and shareholders' equity $ 2,148,997 $ 2,274,755 See the accompanying notes to the unaudited condensed

View Full Filing

View this 10-Q filing on SEC EDGAR