Yahoo Finance What To Expect From Belden's (BDC) Q2 Earnings
Electronic component manufacturer Belden (NYSE:BDC) will be reporting earnings tomorrow morning. Here's what you need to know.
Belden beat analysts' revenue expectations by 4.3% last quarter, reporting revenues of $535.7 million, down 16.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts' Enterprise revenue estimates and a solid beat of analysts' earnings 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 decline 17.1% year on year to $574.2 million, a reversal from the 3.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.37 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 3.4% 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. Corning delivered year-on-year revenue growth of 3.5%, meeting analysts' expectations, and Littelfuse reported a revenue decline of 8.7%, topping estimates by 3.4%.
Read our full analysis of Corning's results here and Littelfuse's results here.
There has been positive sentiment among investors in the electronic components segment, with share prices up 9.4% on average over the last month. Belden is down 2.5% during the same time and is heading into earnings with an average analyst price target of $110.8 (compared to the current share price of $89.54).
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