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Oct 02, 2022
Belden Q3 2022 Earnings Report
Reported strong results and record EPS.
Key Takeaways
Belden Inc. reported a revenue increase of 11% to $670 million compared to the year-ago period. Net income was $104 million, and EPS reached a quarterly record of $2.35. The company is increasing its full-year 2022 guidance, expecting organic revenue growth of 15% to 16%.
Revenues increased organically by 15% in the third quarter.
Each of Belden's businesses grew organically, demonstrating the strength and strategic positioning of the portfolio.
The company delivered strong profitability, with expanded margins and 33% Adjusted EPS growth.
Belden continued to return capital to shareholders, while ending the quarter with net leverage of 1.1x.
Forward Guidance
Belden is increasing its full-year 2022 guidance. The Company expects fourth quarter 2022 revenues to be $635 - $650 million and GAAP EPS to be $1.27 - $1.37. For the year ending December 31, 2022, the Company now expects revenues to be $2.583 - $2.598 billion and GAAP EPS to be $5.89 - $5.99.
Positive Outlook
- Full-year revenue guidance now reflects expected organic revenue growth of 15% to 16%, up from 12% to 13% in prior guidance.
- Significant levels of customer backlog.
- Gaining momentum with our strategic growth initiatives.
- Confident in ability to support customers.
- Deliver at least $8.00 of adjusted EPS by 2025.
Challenges Ahead
- Macroeconomic environment remains very dynamic with considerable uncertainties.
- Volatile foreign exchange rates.
- Volatile commodity prices.
- Fourth quarter 2022 revenues expected to be lower compared to third quarter 2022 revenues due to a stronger U.S. dollar.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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