TEMPE, AZ – Benchmark Electronics reported first quarter revenue of $632 million, a 6.5% year-over-year decline, missing expectations by $8.24 million. Despite the drop, the company delivered operating income of $29 million and generated over $27 million in free cash flow.

President and CEO Jeff Benck said the company continued to perform well against long-term goals, noting this marked the sixth consecutive quarter with gross margins above 10%. He cited ongoing tariff-related uncertainty.

Segment results showed Semi-Cap revenue increased to $195 million, making up 32% of total revenue.

For the upcoming quarter, Benchmark forecast revenue between $615 million and $665 million, down from the $676 million reported a year earlier.