Electronics Manufacturing Earnings On Jul 21: FLEX, BHE & More

We have a jam packed earnings schedule this week with results from 299 companies including 92 S&P 500 members. As of Friday, Jul 15, 2016, 36 S&P 500 members (or 10.1% of the index’s total market cap) have already reported results. Results are bleak with total earnings down 3.9% from the same period last year on 0.1% lower revenues.

Coming to the Tech sector, total earnings are expected to be down 6.2% on 2.7% higher revenues compared with the sector’s 4.5% earnings decline on 0.4% higher revenues in the last reported earnings cycle. Primarily, Apple Inc.’s (NASDAQ:AAPL) woes continue to cast a shadow on the sector’s performance. Even if we exclude Apple, the sector’s revenues are expected to be down 0.6%.The sector isn’t immune to macroeconomic growth concerns, a strengthening U.S dollar, and the “Brexit” conundrum either.

Let’s take a sneak peek into four electronics manufacturing services companies - Flextronics International Ltd (NASDAQ:FLEX) , Benchmark Electronics Inc. (NYSE:BHE) , Camtek Ltd. (NASDAQ:CAMT) and Celestica Inc (TO:CLS) that will report earnings on Jul 21, 2016.

Singapore-based Flextronics International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking, consumer electronics and computer industries.

Flextronics carries a Zacks Rank #3 (Hold) and has an Earnings ESP of +4.17%. The Zacks Consensus Estimate for the to-be-reported quarter stands at 24 cents. Last quarter, the company posted a positive earnings surprise of 4.17%. Notably, in the four preceding quarters, Flextronics has surpassed the Zacks Consensus Estimate thrice and missed it on one occasion, resulting in a positive average earnings surprise of 5.41%.

FLEXTRONIC INTL Price and EPS Surprise

Benchmark Electronics provides contract electronics manufacturing and design services to OEMs in chosen industries like medical devices, communications equipment, industrial & business computers, testing instrumentation and industrial controls.

Benchmark Electronics carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.The Zacks Consensus Estimate for the to-be-reported quarter stands at 33 cents. Last quarter, the company posted a negative earnings surprise of 23.53%. Benchmark Electronics has a four-quarter negative average earnings surprise of 0.21%.

BENCHMARK ELETR Price and EPS Surprise

Camtek is an Israel based company that designs, manufactures, and sells automatic optical inspection systems. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry.

Camtek carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.The Zacks Consensus Estimate for the to-be-reported quarter stands at 2 cents. Last quarter, the company posted a negative earnings surprise of 100.00%. However, over the four preceding quarters, Camtek has a positive average earnings surprise of 35.42%.

Toronto based Celestica is one of the largest electronics manufacturing services companies in the world, serving the computer, and communications sectors. The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading OEMs.

Celestica carries a Zacks Rank #3 (Hold) and has an Earnings ESP of 0.00%.The Zacks Consensus Estimate for the to-be-reported quarter stands at 18 cents. Last quarter, the company posted a positive earnings surprise of 42.86%. However, over the four preceding quarters, Celestica has a negative average earnings surprise of 1.27%.

CELESTICA INC Price and EPS Surprise