Belden Inc

Latest Results (05.04.2026):

Belden Inc. reported fiscal first quarter 2025 results (quarter ended March 30, 2025): revenues of $624.9 million, up 17% year-over-year (11% organically); GAAP diluted EPS $1.27 (+41% y/y) and adjusted EPS $1.60 (+29% y/y); adjusted EBITDA of $103.965 million. Net income was $51.9 million. The company continued share repurchases and provided guidance for Q2 2025.

Revenue and growth

Revenues of $624.9M versus $535.7M a year ago, a 17% increase; organic revenue growth was 11%. Management noted Automation Solutions organic growth of 16% and Smart Infrastructure Solutions organic growth of 6% for the quarter.

Profitability and margins

GAAP net income $51.9M and GAAP diluted EPS $1.27 (prior-year $0.90). Adjusted EBITDA was $103.965M, up 23% year-over-year, with an adjusted EBITDA margin of 16.6% (up 80 basis points). Adjusted EPS was $1.60 (prior-year $1.24).

Segment performance

Automation Solutions: revenue $350.8M, segment EBITDA $73.3M, EBITDA margin 20.9%. Smart Infrastructure Solutions: revenue $274.1M, segment EBITDA $31.1M, EBITDA margin 11.4%.

Capital allocation and buybacks

Belden repurchased 0.8 million shares for $84.5M during the quarter and 1.0 million shares for $100M year-to-date through April 30, 2025, reducing diluted share count to 40.844 million from 41.491 million a year earlier.

Cash flow and balance sheet

Net cash provided by operating activities was $7.4M; capital expenditures were $32.2M. Non-GAAP free cash flow was negative $24.7M for the quarter. Cash and cash equivalents were $259.0M at March 30, 2025 (down from $370.3M at 12/31/24); long-term debt was $1,178.6M.

Outlook (Q2 2025)

Guidance assumes current market conditions: revenues $645–660M (+7% to 9% y/y); GAAP EPS $1.25–1.35 (+5% to 13% y/y); adjusted EPS $1.67–1.77 (+11% to 17% y/y).

Non-GAAP reconciliation and notes

The company provided reconciliations for adjusted measures. Adjusted gross profit margin was 39.8% versus GAAP gross margin 39.3%. Adjusted net income attributable to Belden stockholders was $65.5M, supporting the reported adjusted EPS of $1.60.