The 10-second takeaway
For the quarter ended March 31 (Q1), Belden met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share grew significantly. GAAP earnings per share dropped.
Gross margins expanded, operating margins dropped, net margins contracted.
Belden booked revenue of $507.5 million. The five analysts polled by S&P Capital IQ foresaw a top line of $509.6 million on the same basis. GAAP reported sales were 9.3% higher than the prior-year quarter's $464.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.84. The six earnings estimates compiled by S&P Capital IQ averaged $0.80 per share. Non-GAAP EPS of $0.84 for Q1 were 62% higher than the prior-year quarter's $0.52 per share. GAAP EPS of $0.49 for Q1 were 5.8% lower than the prior-year quarter's $0.52 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 33.0%, 250 basis points better than the prior-year quarter. Operating margin was 8.3%, 60 basis points worse than the prior-year quarter. Net margin was 4.4%, 80 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $541.3 million. On the bottom line, the average EPS estimate is $0.96.
Next year's average estimate for revenue is $2.11 billion. The average EPS estimate is $3.61.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 162 members out of 169 rating the stock outperform, and seven members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 52 give Belden a green thumbs-up, and one 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 $56.25.
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