Belden Turns To Profit In Q3 - Quick Facts

(RTTNews) - Belden Inc. (BDC), a supplier of specialty networking solutions, on Wednesday reported attributable net income for the third quarter of $17.00 million or $0.38 per share, compared to net loss of $297.98 million or $6.70 per share in the year-ago period.

Adjusted earnings for the quarter were $0.72 per share, compared to $1.19 per share in the prior-year quarter.

Revenues for the quarter declined to $475.8 million from $533.1 million in the prior-year period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.61 per share for the quarter on revenues of $445.78 million. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, Belden expects adjusted earnings in a range of $0.63 to $0.78 per share and revenues in a range of $460 million to $485 million. The Street expects earnings of $0.80 per share on revenues of $471.28 million.

For the full year ending December 31, 2020, the company expects adjusted earnings of $2.47 to $2.62 per share and revenues in a range of $1.824 billion to $1.849 billion. Analysts expect earnings of $2.52 per share on revenues of $1.81 billion for the year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More