Slide 1: Benchmark Electronics – Sidoti Small Cap Conference
Benchmark Benchmark Electronics Sidoti Small Cap Conference Sept 18, 2024 | 1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking 2024 Statements Non-GAAP Financial Information This document contains forward-looking statements within the meaning of Section 27A of the Management discloses certain non‐GAAP information to provide investors with additional Securities Act of 1933, as amended and Section 21E of the S
Slide 3: Global Services Locations
Global Services Locations Product Design & United States Engineering Centers Europe Electronics 1. Concord, CA Manufacturing 1. Almelo, The Netherlands 2. Fremont, CA 2. Brasov, Romania Precision Technologies 3. Santa Ana, CA Manufacturing 4. Phoenix, AZ Centers of Excellence 5. Tempe, AZ (2) 6. Mes
Slide 4: Our Evolution to Higher Value Sectors
Our Evolution to Higher Value Sectors FY12 10% 5% 27% 25% 32% Medical Semi-Cap Industrials Telco Computing FY23 20% HC/LS 23% 20% I/C 13% 12% A/D 12% N/C 21% 30% 17% 14% Medical Semi-Cap Industrials A&D Next Gen Advanced Telco Computing Excluding supply chain premium Highly complex products and dem
Slide 5: Sector Engagement
Sector Engagement Participation Select Customers Front-end Wafer Fabrication Equipment Semi-Cap Material Handling and Control Systems Fluid Management Radiological and Optical Imaging Medical Medical Robotics Connected & Diagnostic Devices Automation & Robotics Industrials Control,
Slide 6: FY25 Target Non-GAAP Income Statement
FY25 Target Non-GAAP Income Statement (1) Revenue Growth Operating Margin Earnings Growth ~10% CAGR * 5.0%* to 5.5% * Growth Rate 2X Revenue Growth Rate 5.0%- 5.5% >$3.3B >$3.50 >$3.30 $2.6B 4.0% $2.11 $2.09 FY22 FY25E FY22 FY25E FY22E FY25E Mix shift to increase higher value business FY22 FY25E Ope
Slide 7: Progress Toward 2025 Objectives as of June 2024
Progress Toward 2025 Objectives as of June 2024 1. Manage volatility while continuing to progress to our target model profitability ‒ Delivered year-on-year expansion of non-GAAP Gross and Operating Margins in each quarter since we introduced our 2025 target model in Q4 2022 2. Continue to work down
Slide 8: Appendix
Appendix Benchmark Copyright © 2024 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark.
Slide 9: Third Quarter 2024 Guidance
Third Quarter 2024 Guidance Q3 2024 Net Sales $630 - $670 million Gross Margin – non-GAAP ~10% Operating Margin – non-GAAP 4.8% – 5.0% Other Expenses, Net ~$6 million Restructuring Charges $1.0 million Amortization of Intangibles $1.2 million Stock-Based Compensation Expense $4.5 million Effective T
Slide 10: Second Quarter 2024 Revenue by Market Sector
Second Quarter 2024 Revenue by Market Sector 20% Revenue by Mix and Market Sector For the Three Months Ended 16% (Dollars in Millions) Jun 30, 2024 Mar 31, 2024 Jun 30, 2023 Q2-24 26% Sector Mix % Revenue Mix % Revenue Q/Q Mix % Revenue Y/Y Semi-Cap 26% $172 25% $166 4% 22% $164 5% 17% Complex Indus
Slide 11: Sector Outlook
Sector Outlook Q3-24 FY2024 Sector Commentary Q/Q Y/Y • Expect high single to low double-digit growth in 2024 Semi-Cap • Memory market strength expected to be joined by logic in 2025 • Grand Opening of new Penang site in September • Demand reduction coupled with inventory rebalancing weighing on gro
Slide 12: Trended Non-GAAP Results Ending June 2024
Trended Non-GAAP* Results Ending June 2024 (Dollars in Millions, except EPS) * See APPENDIX 1 for a reconciliation of GAAP to non-GAAP Financial Results | 12
Slide 13: APPENDIX 1 - Reconciliation of GAAP to Non-GAAP Financial Results
APPENDIX 1 - Reconciliation of GAAP to non-GAAP Financial Results (Dollars in Thousands, Except Per Share Data) – (UNAUDITED) Three Months Ended Six Months Ended June 30, March 31, December 31, September 30, June 30, March 31, June 30, June 30, 2024 2024 2023 2023 2023 2023 2024 2023 Income from ope