Belden Posts Q2 Results Beat

Belden Inc, a provider of signal transmission solutions, reported Wednesday Q2 adjusted net profit of $1.29 per share, down from $1.54 per share in the prior-year period. The result beat the $1.24 per share Street estimate provided by Capital IQ. Revenues were $610.6 million, up from $601.6 million reported for the same period last year and higher than the $608.2 million Street estimate.

For Q3, the company expects adjusted profit to range from $1.35 to $1.45 per share on revenues of $615 million to $635 million. The Street consensus calls for earnings of $1.44 per share on revenues of $623.5 million. For 2017, the company now expects adjusted earnings to range from $5.35 to $5.55 per share on revenues of $2.42 billion to $2.45 billion, as compared to prior outlook of $4.95 to $5.20 EPS on revenues of $2.36 billion to $2.41 billion. The Street consensus calls for earnings of $5.27 per share on revenues of $2.42 billion.

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