Belden
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Belden met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share dropped to a loss.
Gross margins grew, operating margins contracted, net margins shrank.
Revenue details
Belden reported revenue of $490.4 million. The six analysts polled by S&P Capital IQ anticipated revenue of $494.7 million on the same basis. GAAP reported sales were 5.6% lower than the prior-year quarter's $519.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.77. The seven earnings estimates compiled by S&P Capital IQ anticipated $0.71 per share. GAAP EPS were -$0.87 for Q3 compared to $0.65 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 29.9%, 50 basis points better than the prior-year quarter. Operating margin was 4.0%, 570 basis points worse than the prior-year quarter. Net margin was -7.9%, 1,390 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $509.4 million. On the bottom line, the average EPS estimate is $0.75.
Next year's average estimate for revenue is $1.95 billion. The average EPS estimate is $2.97.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 166 members out of 174 rating the stock outperform, and eight members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Belden a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Belden is outperform, with an average price target of $41.20.
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