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Belden (BDC) investor relations material
Belden Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Record Q3 revenue was $965.954M, up 38.3% YoY and 11% organically; record orders reached $1,017M, up 46% YoY and 16% organically, with 1.05x book-to-bill.
Adjusted diluted EPS was $2.26, up 15% YoY; GAAP diluted EPS was a loss of $0.29, reflecting Ruckus-related purchase-accounting charges.
A $100M agreement for 2027 fiber assemblies supports expected data-center business growth to $275M, from a previously cited $175M run rate.
Financial highlights
Revenue was $965.954M versus $698.221M YoY; adjusted gross profit was $401.2M versus $266.6M.
Adjusted gross margin was 41.5%, up 330 bps; adjusted EBITDA was $171.137M, up 44%, with a 17.7% margin, up 70 bps.
Adjusted net income was $89.330M versus $79.214M; GAAP net loss was $11.351M versus net income of $56.690M YoY.
Q3 free cash flow was $81.932M versus $65.378M; trailing 12-month free cash flow was $229M.
Nine-month revenue increased 20.9% to $2.412B; adjusted EPS was $6.37 versus $5.46, while GAAP net income was $108.212M versus $169.633M.
Outlook and guidance
Q4 revenue guidance is $960M–$980M, GAAP EPS $0.24–$0.39 and adjusted EPS $2.20–$2.35.
FY adjusted EPS growth is implied at 14%–16%; long-term goals include mid-single-digit annual revenue growth, 10%–12% EPS growth and ~10% free-cash-flow margin.
Data-center business is expected to grow more than 50% in 2027 to $275M, supported by the fiber-assemblies agreement.
Record orders, a growing solutions pipeline and increased data-center and physical-AI engagement support the outlook; execution remains subject to macro and supply-chain conditions.
- Record FY adjusted EPS and margin expansion offset lower revenue and continued destocking.BDC
Q4 2023 - Record revenue, strong EPS growth, and $1.9B RUCKUS acquisition drive robust outlook.BDC
Q2 2026 - RUCKUS acquisition accelerates solutions growth and margin expansion, supporting rapid deleveraging.BDC
Investor presentation - All proposals and director elections passed by majority vote at the virtual meeting.BDC
AGM 2026 - Q1 2026 revenue up 11%, EBITDA margin 17.0%, and $1.85B RUCKUS acquisition announced.BDC
Q1 2026 - Solution sales and digital platforms drive growth, with robust pipeline and positive financial outlook.BDC
Goldman Sachs Industrials and Materials Conference - Q2 revenue and EPS beat guidance, with strong cash flow and broadband expansion via acquisition.BDC
Q2 2024 - Q3 revenue up 4–4.5% with strong orders; Q4 guidance projects double-digit growth.BDC
Q3 2024 - Q1 2025 revenue up 17% with strong margins and growth across both segments.BDC
Q1 2025
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