7/29/2026

speaker
Piercy
Conference Operator

Hello, everyone. Thank you for joining us and welcome to the Benchmark Electronics Q2 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, please press star one again. I will now hand the conference over to Paul Mansky, Benchmark Investor Relations. Please go ahead.

speaker
Paul Mansky
Benchmark Investor Relations

Thank you, Piercy, and thanks, everyone, for joining us today for Benchmark's second quarter 2026 earnings call. With us today are David Moezidis, our president and CEO, and Bryan Schumaker, our CFO. After the market closed, we issued an earnings release pertaining to our financial performance for the second quarter of 2026, along with a presentation which we will reference on this call. Both are available under the investor relations section of our website. This call is being webcast live, a replay of which will be available approximately one hour after we conclude. The company has provided a reconciliation of our GAAP to non-GAAP measures in the earnings release, as well as in the appendix to the presentation. Please take a moment to review the forward-looking statements disclosure on slide two of the presentation. During our call, we will discuss forward-looking information. As a reminder, any of today's remarks which are not statements of historical fact are forward-looking statements, which involve risks and uncertainties as described in our press releases and SEC filings. Actual results may differ materially from these statements. Benchmark undertakes no obligation to update any forward-looking statements. For today's call, David will start with highlights from the quarter, followed by Bryan, with further detail on our results and guidance. We'll then turn the call back to David to share his perspective on sector trends and closing remarks. I'll now turn the call over to our CEO, David Moezidis, to discuss slides four and five.

speaker
David Moezidis
President and CEO

Thank you, Paul. Good afternoon, and thank you for joining us today. I'm pleased to report that our second quarter results reflect strong execution and continued broadening of demand across the markets we serve. Revenue of $756 million was up 18% compared to last year, while EPS of 75 cents grew at more than twice that rate. Both were above the high end of our guidance from last April. We saw healthy double-digit growth in four of our five sectors with A&D undergoing previously discussed program transitions. I would note that with another strong quarter of bookings in Q2, A&D led the way, which speaks to our optimism around the sector in the coming quarters. At the same time, our focus on execution allowed us to deliver operating income and EPS growth of 30% and 36%, respectively, well within our objective to grow both at 1.5 to two times the pace of revenue throughout 2026. I'll let Bryan speak to our expectations for the September quarter in a moment, but relative to the full year, I would leave you with this. Demand in the majority of our markets continues to improve. We are winning. And while there's always room for improvement, we are executing well operationally. Combined, this gives us the confidence to increase our 2026 revenue outlook to $3 billion, representing approximately 13% growth and achieving a historical high for the company. With that, I'll turn the call over to Bryan to walk through the details for the quarter.

Disclaimer

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Investor presentation