Belden ( (BDC) ) has released its Q3 earnings. Here is a breakdown of the information Belden presented to its investors.
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Belden Inc., a prominent global supplier of network infrastructure and digitization solutions, is recognized for its focus on enhancing connectivity across various sectors worldwide. The company is based in St. Louis, Missouri, and has a long-standing reputation in the industry.
In the third quarter of 2024, Belden reported revenues of $655 million, marking a 4% increase year-over-year, though a 2% decline organically. The company also executed a strategic share repurchase program worth $20 million this quarter, summing to $115 million year-to-date. Despite a decline in GAAP EPS by 24% year-over-year, adjusted EPS showed resilience with only a 4% decrease.
The quarter was notably driven by the acquisition of Precision Optical Technologies, which contributed significantly to revenue growth. However, net income faced a decrease, impacted by the absence of a one-time gain recorded in the previous year. The company maintained a strong financial stance, with sequential growth in order volumes and improved margins.
Looking forward, Belden remains optimistic despite economic uncertainties. The management plans to capitalize on growth opportunities and strategic acquisitions, expecting revenue growth of up to 20% in the next quarter. Their strong financial position continues to support shareholder value through share repurchases and strategic expansions.
