Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Benchmark (NYSE: BHE) and its peers.

The sector could see higher demand as the prevalence of advanced electronics increases in industries such as automotive, healthcare, aerospace, and computing. The high-performance components and contract manufacturing expertise required for autonomous vehicles and cloud computing datacenters, for instance, will benefit companies in the space. However, headwinds include geopolitical risks, particularly U.S.-China trade tensions that could disrupt component sourcing and production as the Trump administration takes an increasingly antagonizing stance on foreign relations. Additionally, stringent environmental regulations on e-waste and emissions could force the industry to pivot in potentially costly ways.

The 10 electronic components & manufacturing stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 4.7% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady as they are up 2% on average since the latest earnings results.

Benchmark (NYSE: BHE)

Operating as a critical behind-the-scenes partner for complex technology products since 1979, Benchmark Electronics (NYSE: BHE) provides advanced manufacturing, engineering, and technology solutions for original equipment manufacturers across aerospace, medical, industrial, and technology sectors.

Benchmark reported revenues of $642.3 million, down 3.5% year on year. This print exceeded analysts’ expectations by 0.6%. Despite the top-line beat, it was still a mixed quarter for the company with a narrow beat of analysts’ EPS guidance for next quarter estimates but revenue guidance for next quarter slightly missing analysts’ expectations.

“Benchmark’s second quarter results continue to validate our strategy. We are the partner of choice for complex product execution, from concept through design to global delivery and support. Our second quarter progress was measured by sequential growth across most of our sectors with continued strength in A&D and solid recovery in the Industrial and Medical sectors. Even more encouraging was that we achieved a multi-year record in new bookings during the quarter,” said Jeff Benck, Benchmark’s President and CEO.

Interestingly, the stock is up 1.6% since reporting and currently trades at $39.89.

Read our full report on Benchmark here, it’s free.

Best Q2: TTM Technologies (NASDAQ: TTMI)

As one of the world's largest printed circuit board manufacturers with facilities spanning North America and Asia, TTM Technologies (NASDAQ: TTMI) manufactures printed circuit boards (PCBs) and radio frequency (RF) components for aerospace, defense, automotive, and telecommunications industries.

TTM Technologies reported revenues of $730.6 million, up 20.7% year on year, outperforming analysts’ expectations by 9%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 12.6% since reporting. It currently trades at $42.60.

Is now the time to buy TTM Technologies? Access our full analysis of the earnings results here, it’s free.

Slowest Q2: Rogers (NYSE: ROG)

With roots dating back to 1832, making it one of America's oldest continuously operating companies, Rogers (NYSE: ROG) designs and manufactures specialized engineered materials and components used in electric vehicles, telecommunications, renewable energy, and other high-performance applications.

Rogers reported revenues of $202.8 million, down 5.3% year on year, exceeding analysts’ expectations by 2%. Still, it was a slower quarter as it posted a significant miss of analysts’ EPS guidance for next quarter estimates and a significant miss of analysts’ EPS estimates.

Interestingly, the stock is up 16.7% since the results and currently trades at $76.52.

Read our full analysis of Rogers’s results here.

CTS (NYSE: CTS)

With roots dating back to 1896 and a global manufacturing footprint, CTS (NYSE: CTS) designs and manufactures sensors, connectivity components, and actuators for aerospace, defense, industrial, medical, and transportation markets.

CTS reported revenues of $135.3 million, up 4% year on year. This result surpassed analysts’ expectations by 2%. It was a strong quarter as it also put up an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.

CTS had the weakest full-year guidance update among its peers. The stock is up 2.8% since reporting and currently trades at $41.55.

Read our full, actionable report on CTS here, it’s free.

Amphenol (NYSE: APH)

With over 90 years of connecting the world's technologies, Amphenol (NYSE: APH) designs and manufactures connectors, cables, sensors, and interconnect systems that enable electrical and electronic connections across virtually every industry.

Amphenol reported revenues of $5.65 billion, up 56.5% year on year. This print beat analysts’ expectations by 11.9%. Overall, it was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and a solid beat of analysts’ EPS guidance for next quarter estimates.

Amphenol delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 9.2% since reporting and currently trades at $111.15.

Read our full, actionable report on Amphenol here, it’s free.

Market Update

As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.

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