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Dec 31, 2022
Belden Q4 2022 Earnings Report
Belden reported record revenues and EPS for full year 2022 and strong results for fourth quarter 2022.
Key Takeaways
Belden delivered a strong quarter of continued growth with expanding margins, achieving record revenues and EPS for the full year 2022. The company's strength was broad-based, demonstrating strong secular growth trends benefiting its strategically positioned portfolio. Revenues grew 16% organically with improved profitability and expanded margins.
GAAP revenues for the quarter totaled $659 million, an increase of 8% compared to the year-ago period.
Organic year-over-year growth for the quarter was 12%, with Industrial Automation Solutions at 18% and Enterprise Solutions at 6%.
Net income was $61 million, compared to $80 million in the year-ago period.
Adjusted EPS was $1.75, increasing 35% compared to $1.30 in the year-ago period.
Belden
Belden
Forward Guidance
Belden provided guidance for the full year 2023 and the first quarter of 2023.
Positive Outlook
- Revenues between $2.670 billion and $2.720 billion for full year 2023
- Organic growth between 3% and 5% for full year 2023
- GAAP EPS between $5.73 and $6.13 for full year 2023
- Adjusted EPS between $6.60 and $7.00 for full year 2023
- Confident in ability to deliver at least $8.00 of adjusted EPS by 2025
Challenges Ahead
- Revenues between $615 million and $630 million for first quarter 2023
- Organic growth between 3% and 6% for first quarter 2023
- GAAP EPS between $1.29 and $1.39 for first quarter 2023
- Adjusted EPS between $1.50 and $1.60 for first quarter 2023
- Macro conditions remain uncertain as we enter 2023