Electronic component manufacturer Belden (NYSE:BDC) will be reporting earnings this Thursday before the bell. Here’s what to look for.
Belden beat analysts’ revenue expectations last quarter, reporting revenues of $696.4 million, up 11.4% year on year. It was a strong quarter for the company, with a decent beat of analysts’ EBITDA estimates and revenue guidance for next quarter topping analysts’ expectations.
Is Belden a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Belden’s revenue to grow 11.2% year on year, in line with the 11.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Belden has a history of exceeding Wall Street’s expectations.
Looking at Belden’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corning delivered year-on-year revenue growth of 17.1%, beating analysts’ expectations by 2%, and Bloom Energy reported revenues up 166%, topping estimates by 27.7%.
Read our full analysis of Corning’s results here and Bloom Energy’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. Belden is down 10.5% during the same time and is heading into earnings with an average analyst price target of $153 (compared to the current share price of $106.25).
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