Belden Boosts FY22 Outlook As Q3 Results Top Estimates

(RTTNews) - While reporting financial results for the third quarter on Wednesday, Belden Inc. (BDC) provided its earnings, adjusted earnings and revenue guidance for the fourth quarter and raised its outlook for the full year 2022.

For the fourth quarter, the company expects earnings in a range of $1.27 to $1.37 per share and adjusted earnings in a range of $1.60 to $1.70 per share on revenues between $635 million and $650 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.57 per share on revenues of $631.71 million $6.03 per share on revenues of $2.54 billion for the quarter.. Analysts' estimates typically exclude special items.

For fiscal 2022, the company now projects earnings in a range of $5.89 to $5.99 per share and adjusted earnings in a range of $6.27 to $6.37 per share on revenues between $2.583 billion and $2.598 billion, with organic revenue growth of 15 to 16 percent.

Previously, the company expected earnings in the range of $4.67 to $4.87 per share and adjusted earnings in the range of $5.90 to $6.10 per share on revenues between $2.52 billion and $2.55 billion, with organic revenue growth of 12 to 13 percent.

The Street expects the company to report earnings of $6.03 per share on revenues of $2.54 billion for the year.

Looking further ahead, the company said, "We remain confident in our ability to support our customers, create value for our shareholders, and deliver at least $8.00 of adjusted EPS by 2025."

For the third quarter, the company reported net income from continuing operations was $2.35 per share, sharply higher than $0.97 per share last year. Excluding items, adjusted net income from continuing operations were $1.77 per share, compared to $1.33 per share in the year-ago quarter.

Revenues for the quarter grew 11 percent to $670.49 million from $604.76 million in the same quarter last year.

Analysts expected earnings of $1.56 per share on revenues of $634.87 million for the quarter.

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