Technology
BENCHMARK REPORTS THIRD QUARTER 2024 RESULTS
Published
2 years agoon
By
TEMPE, Ariz., Oct. 30, 2024 /PRNewswire/ — Benchmark Electronics, Inc. (NYSE: BHE) today announced financial results for the third quarter ended September 30, 2024.
Third quarter 2024 results(1):
Revenue of $658 millionGenerated net cash provided by operations of $39 million and positive free cash flow of $29 millionGAAP and non-GAAP gross margin of 10.1% and 10.2%, respectivelyGAAP and non-GAAP operating margin of 4.3% and 5.3%, respectivelyGAAP and non-GAAP earnings per share of $0.42 and $0.57, respectively
Three Months Ended
September 30,
June 30,
September 30,
(Amounts in millions, except per share data)
2024
2024
2023
Sales
$
658
$
666
$
720
Net income
$
15
$
16
$
20
Income from operations
$
28
$
27
$
30
Net income – non-GAAP(1)
$
21
$
21
$
23
Income from operations – non-GAAP(1)
$
35
$
34
$
37
Diluted earnings per share
$
0.42
$
0.43
$
0.57
Diluted earnings per share – non-GAAP(1)
$
0.57
$
0.57
$
0.65
Operating margin
4.3
%
4.1
%
4.2
%
Operating margin – non-GAAP(1)
5.3
%
5.1
%
5.2
%
(1) A reconciliation of non-GAAP results to the most directly comparable GAAP measures and a discussion of why management believes these non-GAAP results are useful are included below.
“Our third quarter results represent the 16th consecutive quarter of non-GAAP operating margin expansion on a year-over-year basis. These results coupled with our focused working capital initiatives, has enabled us to deliver $245 million of positive free cash flow over the last 12 months,” said Jeff Benck, Benchmark’s President and CEO.
Benck continued “I would again like to welcome our new CFO, Bryan Schumaker, to the company. I am confident with his background and experience he will play a key role in helping drive continued operational excellence as we embark on our next phase of growth.”
Cash Conversion Cycle
September 30,
June 30,
September 30,
2024
2024
2023
Accounts receivable days
51
51
60
Contract asset days
26
25
24
Inventory days
89
90
100
Accounts payable days
(54)
(52)
(53)
Advance payments from customers days
(22)
(24)
(26)
Cash conversion cycle days
90
90
105
Third Quarter 2024 Industry Sector Update
Revenue and percentage of sales by industry sector were as follows.
September 30,
June 30,
September 30,
(In millions)
2024
2024
2023
Semi-Cap
$
188
28
%
$
172
26
%
$
165
23
%
Complex Industrials
151
23
142
21
154
21
Medical
107
16
111
17
149
21
A&D
102
16
109
16
100
14
AC&C
110
17
132
20
152
21
Total
$
658
100
%
$
666
100
%
$
720
100
%
Revenue decreased quarter over quarter primarily due to decreases in Advanced Computing and Communications (AC&C) sales, which were partially offset by an increase in Semi-Cap sales. Revenue decreased year-over-year primarily due to decreases in Medical and AC&C sales, which were partially offset by increases in Semi-Cap and A&D sales.
Fourth Quarter 2024 Guidance
Revenue between $640 million – $680 millionDiluted GAAP earnings per share between $0.40 – $0.46Diluted non-GAAP earnings per share between $0.53 – $0.59Non-GAAP earnings per share guidance excludes stock-based compensation expense, amortization of intangible assets and restructuring charges and other costs.
In the fourth quarter of 2024, stock-based compensation expense is expected to be $3.5 million, amortization of intangible assets is expected to be $1.2 million and restructuring and other charges are expected to be approximately $1.0 million.
Third Quarter 2024 Earnings Conference Call
The Company will host a conference call to discuss the results today at 5:00 p.m. Eastern Time. The live webcast of the call and accompanying reference materials will be accessible by logging on to the Company’s website at www.bench.com. A replay of the broadcast will also be available on the Company’s website.
About Benchmark Electronics, Inc.
Benchmark provides comprehensive solutions across the entire product life cycle by leading through its innovative technology and engineering design services, leveraging its optimized global supply chain and delivering world-class manufacturing services in the following industries: semiconductor capital equipment, complex industrials, medical, commercial aerospace, defense, and advanced computing and communications. Benchmark’s global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts and may include words such as “anticipate,” “believe,” “intend,” “plan,” “project,” “forecast,” “strategy,” “position,” “continue,” “estimate,” “expect,” “may,” “will,” “could,” “predict,” and similar expressions of the negative or other variations thereof. In particular, statements, express or implied, concerning the Company’s outlook and guidance for fourth quarter and fiscal year 2024 results, future operating results or margins, the ability to generate sales and income or cash flow, expected revenue mix, the Company’s business strategy and strategic initiatives, the Company’s repurchases of shares of its common stock, the Company’s expectations regarding restructuring charges, stock-based compensation expense, amortization of intangibles, award of any tax incentives and capital expenditures, and the Company’s intentions concerning the payment of dividends, among others, are forward-looking statements. Although the Company believes these statements are based on and derived from reasonable assumptions, they involve risks, uncertainties and assumptions that are beyond the Company’s ability to control or predict, relating to operations, markets and the business environment generally, including those discussed under Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and in any of the Company’s subsequent reports filed with the Securities and Exchange Commission. Events relating to the possibility of customer demand fluctuations, supply chain constraints, continuing inflationary pressures, the effects of foreign currency fluctuations and high interest rates, geopolitical uncertainties including continuing hostilities and tensions, trade restrictions and sanctions, or the ability to utilize the Company’s manufacturing facilities at sufficient levels to cover its fixed operating costs, may have resulting impacts on the Company’s business, financial condition, results of operations, and the Company’s ability (or inability) to execute on its plans. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes, including the future results of the Company’s operations, may vary materially from those indicated. Undue reliance should not be placed on any forward-looking statements. Forward-looking statements are not guarantees of performance. All forward-looking statements included in this document are based upon information available to the Company as of the date of this document, and the Company assumes no obligation to update.
Non-GAAP Financial Measures
Management discloses certain non‐GAAP information to provide investors with additional information to analyze the Company’s performance and underlying trends. These non-GAAP financial measures exclude restructuring charges, stock-based compensation expense, amortization of intangible assets acquired in business combinations, certain legal and other settlement losses (gains), customer insolvency losses (recoveries), asset impairments, other significant non-recurring costs and the related tax impacts of all of the above. A detailed reconciliation between GAAP results and results excluding certain items (“non-GAAP”) is included in the following tables attached to this document. In situations where a non-GAAP reconciliation has not been provided, the Company was unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. Management uses non‐GAAP measures that exclude certain items in order to better assess operating performance and help investors compare results with our previous guidance. This document also references “free cash flow”, a non-GAAP measure, which the Company defines as cash flow from operations less additions to property, plant and equipment and purchased software. The Company’s non‐GAAP information is not necessarily comparable to the non‐GAAP information used by other companies. Non‐GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as a measure of the Company’s profitability or liquidity. Readers should consider the types of events and transactions for which adjustments have been made.
Benchmark Electronics, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(Amounts in Thousands, Except Per Share Data)
(UNAUDITED)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2024
2023
2024
2023
Sales
$
657,747
$
719,695
$
1,999,218
$
2,147,622
Cost of sales
591,006
650,618
1,797,119
1,947,556
Gross profit
66,741
69,077
202,099
200,066
Selling, general and administrative expenses
36,636
35,509
111,990
111,379
Amortization of intangible assets
1,205
1,592
3,613
4,775
Restructuring charges and other costs
795
1,635
5,609
6,348
Income from operations
28,105
30,341
80,887
77,564
Interest expense
(6,569)
(8,475)
(20,747)
(23,183)
Interest income
2,811
1,343
7,329
4,223
Other (expense) income, net
(3,952)
2,384
(7,452)
280
Income before income taxes
20,395
25,593
60,017
58,884
Income tax expense
5,021
5,181
15,113
12,121
Net income
$
15,374
$
20,412
$
44,904
$
46,763
Earnings per share:
Basic
$
0.43
$
0.57
$
1.25
$
1.32
Diluted
$
0.42
$
0.57
$
1.23
$
1.30
Weighted-average number of shares used in
calculating earnings per share:
Basic
36,051
35,647
35,970
35,535
Diluted
36,629
35,876
36,469
35,879
Benchmark Electronics, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In Thousands)
(UNAUDITED)
September 30,
December 31,
2024
2023
Assets
Current assets:
Cash and cash equivalents
$
324,423
$
277,391
Restricted cash
—
5,822
Accounts receivable, net
372,276
449,404
Contract assets
186,538
174,979
Inventories
581,901
683,801
Prepaid expenses and other current assets
43,569
44,350
Total current assets
1,508,707
1,635,747
Property, plant and equipment, net
224,164
227,698
Operating lease right-of-use assets
122,117
130,830
Goodwill and other long-term assets
294,009
280,480
Total assets
$
2,148,997
$
2,274,755
Liabilities and Shareholders’ Equity
Current liabilities:
Current installments of long-term debt
$
6,751
$
4,283
Accounts payable
356,038
367,480
Advance payments from customers
145,350
204,883
Accrued liabilities
130,992
136,901
Total current liabilities
639,131
713,547
Long-term debt, net of current installments
272,000
326,674
Operating lease liabilities
114,181
123,385
Other long-term liabilities
21,009
32,064
Total liabilities
1,046,321
1,195,670
Shareholders’ equity
1,102,676
1,079,085
Total liabilities and shareholders’ equity
$
2,148,997
$
2,274,755
Benchmark Electronics, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In Thousands)
(UNAUDITED)
Nine Months Ended
September 30,
2024
2023
Cash flows from operating activities:
Net income
$
44,904
$
46,763
Depreciation and amortization
34,578
34,103
Stock-based compensation expense
10,740
12,331
Accounts receivable
76,479
12,937
Contract assets
(11,559)
(6,472)
Inventories
102,540
1,789
Accounts payable
(16,107)
(24,420)
Advance payments from customers
(59,533)
(8,879)
Other changes in working capital and other, net
(38,733)
(30,938)
Net cash provided by operating activities
143,309
37,214
Cash flows from investing activities:
Additions to property, plant and equipment and software
(24,221)
(66,713)
Other investing activities, net
483
588
Net cash used in investing activities
(23,738)
(66,125)
Cash flows from financing activities:
Share repurchases
(5,101)
—
Net debt activity
(52,596)
107,194
Other financing activities, net
(23,507)
(23,306)
Net cash (used in) provided by financing activities
(81,204)
83,888
Effect of exchange rate changes
2,843
(1,647)
Net increase in cash and cash equivalents and restricted cash
41,210
53,330
Cash and cash equivalents and restricted cash at beginning of year
283,213
207,430
Cash and cash equivalents and restricted cash at end of period
$
324,423
$
260,760
Benchmark Electronics, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Financial Results
(Amounts in Thousands, Except Per Share Data)
(UNAUDITED)
Three Months Ended
Nine Months Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
Sept 30,
2024
2024
2024
2023
2023
2024
2023
Income from operations (GAAP)
$
28,105
$
27,253
$
25,529
$
32,100
$
30,341
$
80,887
$
77,564
Restructuring charges and other costs
795
1,471
3,343
2,054
1,437
5,609
5,227
Stock-based compensation expense
4,379
4,185
2,176
2,955
3,674
10,740
12,331
Amortization of intangible assets
1,205
1,204
1,204
1,204
1,592
3,613
4,775
Asset impairment
—
—
—
—
198
—
1,121
Legal and other settlement loss (gain)
367
317
855
—
—
1,539
—
Customer insolvency (recovery)
—
(316)
—
—
—
(316)
—
Non-GAAP income from operations
$
34,851
$
34,114
$
33,107
$
38,313
$
37,242
$
102,072
$
101,018
GAAP operating margin
4.3
%
4.1
%
3.8
%
4.6
%
4.2
%
4.0
%
3.6
%
Non-GAAP operating margin
5.3
%
5.1
%
4.9
%
5.5
%
5.2
%
5.1
%
4.7
%
Gross profit (GAAP)
$
66,741
$
67,950
$
67,408
$
71,004
$
69,077
$
202,099
$
200,066
Stock-based compensation expense
413
326
426
416
420
1,165
1,239
Customer insolvency (recovery)
—
(316)
—
—
—
(316)
—
Non-GAAP gross profit
$
67,154
$
67,960
$
67,834
$
71,420
$
69,497
$
202,948
$
201,305
GAAP gross margin
10.1
%
10.2
%
10.0
%
10.3
%
9.6
%
10.1
%
9.3
%
Non-GAAP gross margin
10.2
%
10.2
%
10.0
%
10.3
%
9.7
%
10.2
%
9.4
%
Selling, general and administrative expenses
$
36,636
$
38,022
$
37,332
$
35,646
$
35,509
$
111,990
$
111,379
Stock-based compensation expense
(3,966)
(3,859)
(1,750)
(2,539)
(3,254)
(9,575)
(11,092)
Legal and other settlement (loss) gain
(367)
(317)
(855)
—
—
(1,539)
—
Non-GAAP selling, general and administrative expenses
$
32,303
$
33,847
$
34,727
$
33,107
$
32,255
$
100,876
$
100,287
Net income (GAAP)
$
15,374
$
15,528
$
14,002
$
17,552
$
20,412
$
44,904
$
46,763
Restructuring charges and other costs
795
1,471
3,343
2,899
1,437
5,609
5,227
Stock-based compensation expense
4,379
4,185
2,176
2,955
3,674
10,740
12,331
Amortization of intangible assets
1,205
1,204
1,204
1,204
1,592
3,613
4,775
Asset impairment
—
—
—
—
198
—
1,121
Legal and other settlement loss (gain)
367
317
855
(37)
(3,375)
1,539
(4,530)
Customer insolvency (recovery)
—
(316)
—
—
—
(316)
—
Income tax adjustments(1)
(1,406)
(1,437)
(1,393)
(1,280)
(529)
(4,236)
(3,536)
Non-GAAP net income
$
20,714
$
20,952
$
20,187
$
23,293
$
23,409
$
61,853
$
62,151
Diluted earnings per share:
Diluted (GAAP)
$
0.42
$
0.43
$
0.38
$
0.49
$
0.57
$
1.23
$
1.30
Diluted (Non-GAAP)
$
0.57
$
0.57
$
0.55
$
0.65
$
0.65
$
1.70
$
1.73
Weighted-average number of shares used in calculating diluted earnings per share:
Diluted (GAAP)
36,629
36,497
36,401
35,956
35,876
36,469
35,879
Diluted (Non-GAAP)
36,629
36,497
36,401
35,956
35,876
36,469
35,879
Net cash provided by operations
$
39,036
$
55,816
$
48,457
$
137,079
$
37,583
$
143,309
$
37,214
Additions to property, plant and
equipment and software
(9,814)
(8,504)
(5,903)
(11,026)
(19,664)
(24,221)
(66,713)
Free cash flow (used)
$
29,222
$
47,312
$
42,554
$
126,053
$
17,919
$
119,088
$
(29,499)
(1) This amount represents the tax impact of the non-GAAP adjustments using the applicable effective tax rates.
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SOURCE BENCHMARK ELECTRONICS
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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future
Published
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July 18, 2026By
Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda
BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.
Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.
Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.
VOICES FROM THE SUMMIT
“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei
“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand
“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA
“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF
“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)
“We fixed it before you feel it! AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS
“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia
“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia
“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom
“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei
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— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU
“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)
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— Joey Deng, Secretary-General of NIDA
“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
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“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA
“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International
“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT
“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART
“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei
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Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.
WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.
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SOURCE HUAWEI
Technology
Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer
Published
4 hours agoon
July 18, 2026By
Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.
NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.
The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.
Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”
Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.
The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.
The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.
For more information on Laifen, please visit LaifenTech.com.
About Laifen:
Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.
Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.
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SOURCE Laifen
NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.
For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html.
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SOURCE Pillsbury Winthrop Shaw Pittman LLP
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