Benchmark Electronics reports Q4 adjusted EPS 58c, consensus 56c

Reports Q4 revenue $691M, consensus $707.5M. “Benchmark delivered another solid year of performance in 2023 as we continued to execute to our strategic plan. I’m particularly pleased with our free cash flow performance which was aided by inventory reductions. At the same time, our operational discipline allowed us to expand both gross and operating margin despite the dynamic environment,” said Jeff Benck, Benchmark’s President and CEO. Benck continued, “Looking forward, we expect the current demand softness across several of our end-markets will likely persist through the first half of 2024, driven by customers closely managing inventories. However, as demonstrated by our performance this past year, I am confident in our ability to deliver further margin expansion and positive free cash flow in 2024.”