Belden Q1 rev down 17% to $536M; acquires Precision Optical for $290M cash

BELDEN INC.

GAAP EPS $0.90 (down 38% YoY); adjusted EPS $1.24 (down 26% YoY).
Revenue $536M, down 17%; Enterprise -18%, Industrial Automation -17%.
Acquired Precision Optical Technologies for $290M cash; close expected Q2 2024.
Q2 guidance: rev $565-580M, GAAP EPS $1.00-1.10, adjusted EPS $1.30-1.40.
Repurchased 0.7M shares for $58M in Q1; dividend unchanged at $0.05/share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BELDEN INC. updated its second quarter of 2024 guidance (reaffirmed).

Period: second quarter of 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Assuming no significant changes to the current market environment, the table below provides guidance for the second quarter of 2024.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BELDEN INC. reported first quarter ended March 31, 2024 results: revenue $536 million, EPS $0.90.

Period: first quarter ended March 31, 2024
Revenue: $536 million
EPS: $0.90
Result: reported results

Exact text from the filing

network infrastructure and digitization solutions, today reported fiscal first quarter results for the period ended March 31, 2024. First Quarter 2024 Highlights • Revenues of $536 million, down 17% y/y and down 17% y/y organically • GAAP EPS of $0.90, down 38% y/y • Adjusted EPS of $1.24, down 26% y/y • Entered into a definitive agreement to purchase Precision

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Source: SEC EDGAR

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