Belden Inc

Latest Results (21.11.2025):

Belden Inc.'s fiscal third quarter 2025 results show record revenues and adjusted earnings: for Q3 2025 Belden reported $698.2 million of revenue (up 7% y/y, +4% organically) and record adjusted EPS of $1.97 (up 16% y/y); GAAP diluted EPS was $1.41 (up 8% y/y) with net income of $56.7 million.

Revenue and growth

Q3 2025 revenues were $698.2M (+$43M, +7% year-over-year). Organic revenue growth was 4%. By segment, Automation Solutions grew ~10% to $381.3M while Smart Infrastructure Solutions declined ~1% to $316.9M.

Earnings and margins

GAAP diluted EPS was $1.41 (vs. $1.30 a year ago) and net income was $56.7M. Adjusted EPS (non-GAAP) was a record $1.97 (up 16% y/y). Adjusted EBITDA was $119M (+5% y/y) with an adjusted EBITDA margin of 17.0%, down 20 basis points vs. prior-year quarter. Net income margin was 8.1% (vs. 8.2% a year ago).

Segments performance

Automation Solutions delivered the stronger performance: higher revenue and a segment EBITDA of $79.3M (20.8% margin). Smart Infrastructure Solutions revenue slipped and produced segment EBITDA of $39.8M (12.6% margin).

Capital allocation

Belden repurchased 0.4M shares for $50M in Q3 and has repurchased 1.4M shares for $150M year-to-date. The company also declared quarterly dividends of $0.05 per share.

Balance sheet and working capital

At September 28, 2025, cash and equivalents were $314.3M (down from $370.3M at year-end), receivables rose to $461.3M and inventories to $393.9M. Long-term debt increased to $1.284B from $1.130B at December 31, 2024.

Outlook (Q4 2025)

Assuming current market conditions, guidance for Q4 2025: revenues $690–$700M; GAAP EPS $1.40–$1.50; Adjusted EPS $1.90–$2.00.