Belden Q2 2024 Earnings Report
Key Takeaways
Belden Inc. reported Q2 2024 revenues of $604 million, a 13% year-over-year decrease, with a GAAP EPS of $1.19 and adjusted EPS of $1.51. The company closed the acquisition of Precision Optical Technologies, Inc. and is focusing on enabling solutions across segments aligned with key secular trends.
Revenues reached $604 million, reflecting a 13% year-over-year decrease, both reported and organic.
GAAP EPS was reported at $1.19, a 26% decrease year-over-year.
Adjusted EPS stood at $1.51, showing a 21% decrease year-over-year.
The acquisition of Precision Optical Technologies, Inc. was successfully completed.
Belden
Belden
Forward Guidance
Belden anticipates modest sequential revenue growth in the third quarter of 2024, with revenues expected to be between $635 million and $650 million. GAAP EPS is projected to be $1.00 - $1.10 and Adjusted EPS to be $1.55 - $1.65.
Positive Outlook
- End demand is expected to increase modestly.
- Revenues are anticipated to increase sequentially.
- GAAP EPS is projected to be $1.00 - $1.10.
- Adjusted EPS is expected to be $1.55 - $1.65.
- Order patterns remain steady across markets.
Challenges Ahead
- Guidance assumes no significant changes to the current market environment.
- Results are subject to factors listed under "Forward-Looking Statements".
- Actual results are likely to be impacted by additional events for which information is not available.
- Global economy challenges.
- Volatility in credit and foreign exchange markets.