The raised full-year outlook and record revenue across multiple segments (Semi-Cap, Industrial, AC&C all growing double-digits) suggest broad-based demand momentum. Monitor Q4 guidance execution and any further upward revisions to FY2026 outlook on the earnings call.
Price Chart
Executive Summary
Benchmark Electronics reported Q3 2026 record revenue of $811M (up 19% YoY) and non-GAAP EPS of $0.84 (up 35% YoY), both above consensus estimates of $775.5M and $0.79. The company raised its full-year 2026 revenue growth outlook to approximately 16%, up from the prior 9-10% range, and guided Q4 revenue of $815M-$855M with non-GAAP EPS of $0.85-$0.91.
Key Financial Metrics
Key Facts
- Record Q3 2026 revenue of $811M, up 19% year-over-year from $681M
- Non-GAAP diluted EPS of $0.84, up 35% year-over-year from $0.62
- GAAP diluted EPS of $0.47, up 21% year-over-year from $0.39
- Revenue beat consensus estimate of $775.5M by 4.6%
- Non-GAAP EPS of $0.84 beat consensus estimate of $0.79 by 6.3%
- Full-year 2026 revenue growth outlook raised to approximately 16% from prior 9-10%
- Q4 2026 guidance: revenue $815M-$855M, non-GAAP EPS $0.85-$0.91
- Semi-Cap segment grew to $241M (30% of revenue), up 30% YoY
- Cash conversion cycle improved to 54 days from 77 days a year ago
- Operating cash flow of $30M, free cash flow of $14M in Q3
Financial Impact
Record quarterly revenue of $811M, non-GAAP EPS of $0.84; raised full-year revenue growth outlook to ~16%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Semi-Cap | $241.0M | +30.3% |
| Industrial | $172.0M | +12.4% |
| Medical | $138.0M | +9.5% |
| AC&C | $132.0M | +50.0% |
| A&D | $128.0M | -0.8% |
Risk Factors
- GAAP operating margin declined sequentially to 3.8% from 4.0% in Q2 2026
- Inventory increased to $633.6M from $482.5M at year-end 2025, a 31% increase
- Free cash flow of $14.4M was down from $25.1M in Q3 2025 due to higher capex
- Cash and cash equivalents declined to $290.7M from $322.1M at year-end 2025
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-436278 |
| Document: bhe-20261028.htm | 0001193125-26-436278 |
| Document: 0001193125-26-436278-index-headers.html | 0001193125-26-436278 |
| Document: 0001193125-26-436278-index.html | 0001193125-26-436278 |
| Document: 0001193125-26-436278.txt | 0001193125-26-436278 |
| 8-K Data (Synthetic) | 0001193125-26-436278 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 4d ago | 8-K | $72.32 $68.37 | ▼ −5.46% | ▼ −3.69% | $68.37 (−5.46%) |
Aug 4, 2026 12w ago | Institutional Cluster | $85.41 $84.06 | ▼ −1.58% | ▼ −1.38% | $68.37 (−19.95%) |
May 15, 2026 24w ago | Insider Cluster | $84.94 $82.79 | ▼ −2.53% | ▼ −2.47% | $68.37 (−19.51%) |
May 15, 2026 24w ago | Insider Cluster | $84.94 $82.79 | ▼ −2.53% | ▼ −2.47% | $68.37 (−19.51%) |
May 6, 2026 25w ago | Insider Cluster | $86.60 $83.78 | ▼ −3.26% | ▼ −2.93% | $68.37 (−21.05%) |
Apr 29, 2026 26w ago | 8-K | $82.05 $84.50 | ▲ +2.99% | ▲ +2.77% | $68.37 (−16.67%) |
Apr 17, 2026 28w ago | DEFA14A | $65.73 $66.17 | ▲ +0.67% | ▲ +1.32% | $68.37 (+4.02%) |
Feb 24, 2026 35w ago | 8-K | $60.17 $58.99 | ▼ −1.95% | ▼ −1.41% | $68.37 (+13.63%) |
US Market Status
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