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Jul 04, 2021
Belden Q2 2021 Earnings Report
Reported strong results driven by increased demand and strategic execution.
Key Takeaways
Belden Inc. reported a significant increase in revenue and net income for the second quarter of 2021. Revenues increased by 41.7% compared to the year-ago period, and net income rose substantially. The company is increasing its full year 2021 guidance.
Total revenues increased by 42% overall and 28% on an organic basis.
Adjusted EBITDA margin was 15.5%, compared to 11.6% in the year-ago period.
Demand continued to strengthen across end markets.
Global teams are successfully navigating the inflationary environment, resulting in meaningful earnings growth.
Belden
Belden
Forward Guidance
Belden is increasing its full year 2021 guidance to reflect better than expected performance in the second quarter and an improved outlook for the remainder of the year.
Positive Outlook
- Third quarter 2021 revenues are expected to be $589 - $604 million.
- Third quarter 2021 adjusted revenues are expected to be $590 - $605 million.
- Third quarter 2021 EPS is expected to be $0.56 - $0.66.
- Third quarter 2021 adjusted EPS is expected to be $1.11 - $1.21.
- Full year 2021 revenues are now expected to be $2.318 - $2.348 billion, compared to prior guidance of $2.130 - $2.180 billion.
Challenges Ahead
- Our results are subject to the factors listed under "Forward-Looking Statements" in this release.
- Our actual results are likely to be impacted by other additional events for which information is not available, such as asset impairments.
- Our actual results are likely to be impacted by purchase accounting effects related to acquisitions.
- Our actual results are likely to be impacted by severance, restructuring, and acquisition integration costs.
- Our actual results are likely to be impacted by gains (losses) recognized on the disposal of tangible assets.