earnings
confidence high
sentiment negative
materiality 0.80
Belden pre-announces Q3 revenue ~$625M, below outlook of $675-690M; GAAP EPS $1.67-1.69, adjusted EPS $1.75-1.77
BELDEN INC.
2023-Q3 EPS reported
$4.74
revenue$1,960,841,000
- Preliminary Q3 revenue ~$625M vs prior outlook of $675-690M; GAAP EPS $1.67-1.69 (prior $1.40-1.50), adjusted EPS $1.75-1.77 (prior $1.75-1.85).
- Revenue miss driven by softer demand and channel destocking; management expects continued weakness into Q4.
- Adjusted EPS at low end of prior range benefited from favorable mix of higher-margin solutions and lower incentive compensation.
- GAAP EPS includes gain on sale of assets; earnings call scheduled Nov 2, 2023.