Belden Guides Q3 Revenues Above View As Q2 Results Top Estimates
(RTTNews) - While reporting financial results for the second quarter on Thursday, Belden Inc. (BDC) provided its earnings, adjusted earnings and revenue guidance for the third quarter.
For the third quarter, the company expects earnings in a range of $1.00 to $1.10 per share and adjusted earnings in a range of $1.55 to $1.65 per share on revenues between $635 million and $650 million.
On average, six analysts polled by Thomson Reuters expect the company to report earnings of $1.63 per share on revenues of $629.71 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter, the company reported net income attributable to Belden stockholders of $49.04 million or $1.19 per share, lower than $68.75 million or $1.60 per share last year. Excluding items, adjusted net income were $1.51 per share, compared to $1.91 per share in the year-ago quarter.
Revenues for the quarter declined 13 percent to $604.34 million from $692.25 million in the same quarter last year.
Analysts expected earnings of $1.37 per share on revenues of $574.32 million for the quarter.
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