Belden Q3 2023 Earnings Report
Key Takeaways
Belden Inc. reported Q3 2023 revenues of $627 million, a 7% decrease year-over-year, with an organic growth decline of 9%. GAAP EPS was $1.70, down 28% year-over-year, while adjusted EPS increased 1% to $1.78. The company executed $64 million in share repurchases during the quarter.
Revenues reached $627 million, reflecting a 7% year-over-year decrease and a 9% organic growth decline.
GAAP EPS was $1.70, a 28% decrease year-over-year, while adjusted EPS increased 1% to $1.78.
Gross margin saw outperformance due to an expanding solutions-driven mix.
The company anticipates ongoing demand headwinds and is implementing productivity measures to align with expected conditions.
Belden
Belden
Forward Guidance
The fourth quarter is expected to be marked by ongoing demand headwinds, pauses in capital spending by customers, and channel destocking pressures.
Positive Outlook
- Automation
- Smart infrastructure
- Data integration
- Increase product and solution offerings
- Expand into additional use cases and verticals
Challenges Ahead
- Ongoing demand headwinds
- Pauses in capital spending by customers
- Channel destocking pressures
- Temporary headwinds
- Significant changes to the current market environment