Belden Inc. Q4 Adj. Profit Rises

(RTTNews) - Belden Inc. (BDC) reported fourth quarter adjusted EPS of $1.75, up 35% compared to $1.30 in the year-ago period. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.64, for the quarter. Analysts' estimates typically exclude special items.

Net income was $61 million, compared to $80 million in the year-ago period. EPS was $1.40, compared to $1.76.

GAAP revenues were $659 million, increasing 8%, compared to $612 million in the year-ago period. Organic year-over-year growth for the quarter was 12%. Adjusted revenues totaled $659 million, increasing 8%, compared to $611 million in the year-ago period. Analysts on average had estimated $642.96 million in revenue.

For the first quarter, the company expects: revenues between $615 million and $630 million, organic growth between 3% and 6%, and adjusted EPS between $1.50 and $1.60.

For 2023, the company expects: revenues between $2.670 billion and $2.720 billion, organic growth between 3% and 5%, and adjusted EPS between $6.60 and $7.00.

"we are confident in our ability to deliver at least $8.00 of adjusted EPS by 2025," said Roel Vestjens, President and CEO of Belden Inc.

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