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Dec 31, 2023
Belden Q4 2023 Earnings Report
Belden's Q4 2023 results were reported, with revenues and EPS exceeding expectations amidst industry-wide demand challenges.
Key Takeaways
Belden Inc. reported a decrease in revenue by 16% year-over-year to $551 million for the fourth quarter of 2023, with an organic revenue decline of 18%. Despite lower volumes, the company's profitability improved, with gross profit margins increasing. EPS totaled $0.91, while adjusted EPS was $1.46.
Revenues reached $551 million, a 16% decrease year-over-year and an 18% organic decline.
GAAP EPS was $0.91, representing a 35% decrease year-over-year.
Adjusted EPS was $1.46, a 17% decrease year-over-year.
The company executed $42 million in share repurchases during the quarter.
Forward Guidance
Belden anticipates challenges from the prior year to continue into the first quarter, including customer destocking and other temporary headwinds. End demand is expected to be stable relative to the fourth quarter, with revenue down in line with normal seasonal patterns.
Positive Outlook
- Ever-increasing need for data and automation continues.
- Long-term growth opportunities are considerable.
- Transformation towards solutions positions the portfolio well.
- Superior product portfolio.
- Capitalize on growth opportunities in all market conditions.
Challenges Ahead
- Challenges from the prior year are anticipated to continue into the first quarter.
- Customer destocking.
- Other temporary headwinds.
- Revenue down, in line with normal seasonal patterns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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