Belden (BDC) Reports In-Line Q1 EPS, Revs Miss

Belden (NYSE: BDC) reported Q1 EPS of $0.67, in-line with the analyst estimate of $0.67. Revenue for the quarter came in at $463.5 million versus the consensus estimate of $473.6 million.

GUIDANCE

“Our strong balance sheet and liquidity position will allow us to successfully navigate this difficult economic environment. We are taking appropriate steps to manage expenses and protect cash flows in the near term, while positioning the Company for profitable growth longer term. Our teams have identified a number of incremental savings opportunities, and we are increasing the $40 million SG&A cost reduction program to $60 million. That said, we are maintaining our direct labor force and capacity levels in anticipation of improving demand trends in the second half of the year. Many of our businesses, such as Broadband & 5G and Discrete Manufacturing, will emerge stronger than ever, and we see compelling long-term growth opportunities as we continue our transformation. We look forward to providing revenue and EPS guidance again as visibility returns,” said Mr. Stroup.

For earnings history and earnings-related data on Belden (BDC) click here.

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