Electronic component manufacturer Belden (NYSE:BDC) will be reporting results this Thursday before the bell. Here’s what investors should know.
Belden beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $624.9 million, up 16.6% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates.
Is Belden a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Belden’s revenue to grow 8.9% year on year to $658.4 million, a reversal from the 12.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.76 per share.
The majority of analysts covering the company have 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 2.7% on average.
Looking at Belden’s peers in the electronic components segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bel Fuse delivered year-on-year revenue growth of 26.3%, beating analysts’ expectations by 10.1%, and Corning reported revenues up 7.2%, in line with consensus estimates. Bel Fuse traded up 18.8% following the results.
Read our full analysis of Bel Fuse’s results here and Corning’s results here.
There has been positive sentiment among investors in the electronic components segment, with share prices up 5.5% on average over the last month. Belden is up 12.7% during the same time and is heading into earnings with an average analyst price target of $132.83 (compared to the current share price of $130.49).
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