Slide 1: Benchmark Electronics First Quarter Fiscal Year 2026 Results
Benchmark Electronics First Quarter Fiscal Year 2026 Results April 29, 2026
Slide 2: Forward-Looking Statements Non-GAAP Financial Information
Forward-Looking 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 Securi
Slide 3: Today's Speakers
Today’s Speakers David Moezidis Bryan Schumaker President & Chief EVP and Executive Officer Chief Financial Officer
Slide 4: First Quarter Results and Outlook
First Quarter Results and Outlook $677M 10.3% 4.8% $0.58 GAAP AND NON- NON-GAAP GROSS NON-GAAP OPERATING NON-GAAP EPS GAAP REVENUE MARGIN MARGIN • Revenue and non-GAAP EPS achieved higher end of the guidance range • Performance led by strength in Medical, AC&C and Semi-Cap • Increasing 2026 revenue
Slide 5: Business Highlights
Business Highlights Well-Positioned Portfolio Continued Financial Discipline • Momentum across multiple markets • Operating Income and earnings expected to grow faster than revenue • High complexity delivering attractive gross margin • Working capital management driving Free Cash Flow generation • S
Slide 6: Financial Results (Non-GAAP)
Financial Results (Non-GAAP) THREE MONTHS THREE MONTHS THREE MONTHS ENDED ENDED ENDED March 31 December 31 March 31 2025 2025 2026 ($ MILLIONS) Revenue $632 $704 $677 Gross Margin 10.1% 10.6% 10.3% Operating Margin 4.6% 5.5% 4.8% Effective Tax Rate 25.0% 25.4% 27.4% EPS $0.52 $0.71 $0.58 * See APPEN
Slide 7: First Quarter 2026 Sector Performance
First Quarter 2026 Sector Performance Sales ($MM) YoY Sector Mix Semi-Cap $191 (2%) 18% 28% Industrial $133 (3%) $677 15% Aerospace & Defense $120 (2%) MILLION 19% Medical $128 24% 20% AC&C $105 41% | 7
Slide 8: Trended Non-GAAP Results
Trended Non-GAAP Results (Dollars in Millions, except EPS) * See APPENDIX 1 for a reconciliation of GAAP to non-GAAP Financial Results | 8
Slide 9: Balance Sheet and Cash Flow Update
Balance Sheet and Cash Flow Update (In Millions) Q1-25 Q4-25 Q1-26 Cash Flows from Operations $32 $59 $47 • Generated $29 million in Free Cash Flow while supporting investment in growth Free Cash Flow (1) $27 $48 $29 • Balance sheet remains strong, with net Share Repurchases $8 $1 $6 cash at $120 mi
Slide 10: Working Capital Trends
Working Capital Trends Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Accounts Receivable Days 53 52 50 50 50 Contract Asset Days 25 25 26 23 25 Inventory Days 89 83 75 69 75 Accounts Payable Days (61) (55) (56) (58) (67) Advance Payments from Customers Days (20) (20) (18) (17) (16) Cash Conversion Cycle Days 86 85
Slide 11: Q2 2026 Guidance
Q2 2026 Guidance Q2-26E Net Sales $700M to $740M Gross Margin – non-GAAP 10.4% to 10.6% Operating Margin – non-GAAP 5.1% to 5.3% Interest and Other Expenses ~$3.5M Non-operating Expenses $0.8M to $1.2M Stock-Based Compensation ~$6.1M Effective Tax Rate 26% to 27% Diluted EPS – GAAP $0.51 to $0.57 Di
Slide 12: Sector Outlook
Sector Outlook Semi-Cap Industrial Aerospace & Defense • Cyclical improvement expected to continue • In line with steady performance for the year • Commercial air remains stable • Penang 4 ramping operations to support • Transportation, construction and agriculture • Defense moderating after two yea
Slide 13: Summary
Summary 1. Ahead of Initial Growth Expectations • Semi-Cap cycle is proving out and AI-related opportunities in AC&C are scaling • Medical strength continues, while Industrial and A&D are tracking as expected • Increasing 2026 growth outlook from mid-single digits to 9-10% 2. Positioned to Deliver O
Slide 14: Appendix
Appendix > Benchmark | 14 Copyright © 2026 by original author Benchmark Electronics, Inc. Not to be reproduced, distributed, or used in any means without written permission by Benchmark.
Slide 15: APPENDIX 1 – Reconciliation of GAAP to Non-GAAP
APPENDIX 1 – Reconciliation of GAAP to Non-GAAP (Dollars in thousands, except per share data – Unaudited) Three Months Ended Mar 31, June 30, Sep 30, Dec 31, Mar 31, 2025 2025 2025 2025 2026 Income from operations (GAAP) $ 11,759 $ 20,486 $ 23,661 $ 20,143 $ 21,874 Restructuring charges and other co