Belden Q2 Adj. Profit From Cont. Ops. Rises; Increases 2022 Guidance

(RTTNews) - Belden Inc. (BDC) reported second quarter income from continuing operations of $59 million, compared to $45 million, last year. EPS from continuing operations was $1.31, compared to $1.00. Adjusted EPS from continuing operations was $1.60, increasing 31% compared to $1.22. On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter. Analysts' estimates typically exclude special items.

Adjusted revenues were $667 million, up 16%, compared to $577 million, last year. Analysts on average had estimated $634.29 million in revenue.

For the year ending December 31, 2022, the company now expects adjusted EPS to be $5.90 - $6.10, compared to prior guidance of $5.55 - $5.85. The company now expects revenues to be $2.520 - $2.550 billion, compared to prior guidance of $2.480 - $2.530 billion. The full year revenue guidance now represents organic growth of 12% to 13%, compared to prior guidance of 7% to 9%.

The company expects third quarter adjusted EPS to be $1.50 - $1.60. The company expects third quarter revenues to be $625 - $640 million.

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