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Mar 29, 2020
Belden Q1 2020 Earnings Report
Reported results for the first quarter of 2020, impacted by the unprecedented pandemic disrupting the global economy.
Key Takeaways
Belden Inc. reported a decrease in revenue to $463.5 million compared to $500.1 million in the prior-year period. EPS totaled $0.33 compared to $0.48 in the first quarter 2019. Adjusted EPS was $0.67 compared to $0.84 in the first quarter 2019.
First quarter revenues totaled $463.5 million, compared to $500.1 million in the prior-year period.
EPS totaled $0.33 compared to $0.48 in the first quarter 2019.
Adjusted EPS was $0.67 compared to $0.84 in the first quarter 2019.
Belden is increasing the SG&A cost reduction program to $60 million from $40 million.
Forward Guidance
Belden anticipates improving demand trends in the second half of the year and looks forward to providing revenue and EPS guidance again as visibility returns.
Positive Outlook
- Strong balance sheet and liquidity position will allow Belden to successfully navigate this difficult economic environment.
- Taking appropriate steps to manage expenses and protect cash flows in the near term.
- Positioning the Company for profitable growth longer term.
- Teams have identified a number of incremental savings opportunities.
- Maintaining direct labor force and capacity levels in anticipation of improving demand trends in the second half of the year.
Challenges Ahead
- This unprecedented pandemic disrupted the global economy.
- Lack of certainty as to the duration and magnitude of the impact of COVID-19 and the economic recovery from that impact
- The timing of, and the need of the parties to satisfy various closing conditions for, the Grass Valley divestment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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