Electronic component manufacturer Belden (NYSE: BDC) will be reporting earnings this Thursday before market hours. Here’s what to expect.
Belden beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $672 million, up 11.2% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ Industrial revenue estimates.
Is Belden a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Belden’s revenue to grow 3.6% year on year to $678.5 million, in line with the 4.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.92 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Belden has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.9% on average.
Looking at Belden’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vicor delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 15.7%, and Corning reported revenues up 26%, topping estimates by 3.9%. Vicor traded up 30.1% following the results.
Read our full analysis of Vicor’s results here and Corning’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 3.1% on average over the last month. Belden is down 1.8% during the same time and is heading into earnings with an average analyst price target of $142.60 (compared to the current share price of $118.39).
Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
