Electronic component manufacturer Belden (NYSE:BDC) will be announcing earnings results tomorrow before market open. Here’s what you need to know.
Belden beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $666 million, up 20.8% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income 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 14.6% year on year to $613.7 million, a reversal from the 16.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.49 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 2.8% on average.
Looking at Belden’s peers in the electronic components segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bel Fuse delivered year-on-year revenue growth of 18.9%, beating analysts’ expectations by 1.6%, and Corning reported revenues up 16%, falling short of estimates by 0.7%. Bel Fuse traded up 3.4% following the results.
Read our full analysis of Bel Fuse’s results here and Corning’s results here.
Investors in the electronic components segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Belden is up 1.7% during the same time and is heading into earnings with an average analyst price target of $127.40 (compared to the current share price of $102.75).
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