Belden Inc

BDC

Equity

ISIN US0774541066 / Valor 1878687

New York Stock Exchange, Inc (2024-09-17)

USD 106.29+2.85%

Belden Inc
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About company

Belden Inc. is a company that specializes in the development and provision of solutions for mission-critical network infrastructure across various industries. The firm focuses on modernizing and innovating infrastructures to ensure they are future-proof and fail-safe. Belden's product offerings include a range of network equipment such as the BEETLE Single Pair Ethernet Lite Managed Switch, the PROVIZE Suite for network management, the LEMUR Lite Managed Switch Family, and the DuetConnect™ Hybrid Cable, among others. These products are designed to support the deployment of advanced network systems that require high security, power over Ethernet (PoE) options, and the integration of data and DC power delivery. Belden operates globally, relying on a network of certified partners to ensure local expertise, product availability, and reliable installation and support throughout the lifecycle of a project. The company caters to the needs of various sectors, aiming to enhance the efficiency and reliability of their clients' operations through its engineered solutions.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Belden Inc. reported revenues of $604 million for the second quarter of 2024, which represents a 13% decrease compared to the $692 million recorded in the same period last year. This decline was primarily driven by lower market demand, with both the Industrial Automation Solutions and Enterprise Solutions segments experiencing a 13% and 14% drop, respectively.

Net Income and EPS

For Q2 2024, Belden Inc. posted a net income of $49 million, down from $69 million in the year-ago period. The net income as a percentage of revenues was 8.1%, compared to 9.9% in the previous year. The company's GAAP earnings per share (EPS) for the quarter stood at $1.19, a decrease from $1.60 in Q2 2023.

Adjusted EBITDA and EPS

Belden Inc.'s adjusted EBITDA for the second quarter of 2024 was $99 million, down 19% from $123 million in the same quarter last year. The adjusted EBITDA margin also decreased to 16.5% from 17.8%. Adjusted EPS for the quarter was $1.51, a 21% decline from the $1.91 reported in Q2 2023.

Acquisition of Precision Optical Technologies

During the second quarter of 2024, Belden Inc. completed the acquisition of Precision Optical Technologies, Inc. This strategic move is expected to enhance Belden's fiber portfolio and enable the company to deliver improved solutions to its customers, aligning with key secular trends in high data growth verticals.

Outlook for Q3 2024

Belden Inc. provided guidance for the third quarter of 2024, anticipating revenues to be in the range of $635 million to $650 million. The company expects GAAP EPS to be between $1.00 and $1.10, while adjusted EPS is projected to range from $1.55 to $1.65. The outlook reflects a modest increase in end demand and steady order patterns across markets.

Summarized from source with an LLMView Source

Key figures

9.72%1Y

83.4%3Y

98.2%5Y

Performance

44.2%1Y

37.7%3Y

45.4%5Y

Volatility