Belden Inc. (BDC) has announced its third-quarter earnings, which showed a decrease compared to the same period last year but surpassed analysts' expectations.
The company reported a net income of $53.69 million, equating to earnings of $1.30 per share. This is a decline from the previous year's third-quarter income of $72.35 million, or $1.70 per share. When excluding certain items, Belden Inc. posted adjusted earnings of $70.57 million, translating to $1.70 per share for the quarter.
Analysts, as surveyed by Thomson Reuters, had anticipated earnings of $1.61 per share, excluding special items.
Revenue for the quarter saw an uptick of 4.5%, reaching $654.93 million compared to $626.81 million in the previous year.
Here is a summary of Belden Inc.'s earnings (GAAP):
- Third-quarter net income: $53.69 million, down from $72.35 million last year.
- Earnings per share (EPS) for Q3: $1.30, down from last year's $1.70.
- Revenue for Q3: $654.93 million, up from $626.81 million last year.
**Outlook:**
For the upcoming quarter, Belden Inc. has provided guidance, projecting earnings per share to fall between $1.62 and $1.72, with expected revenue ranging from $645 million to $660 million.
