Electronic component manufacturer Belden (NYSE: BDC) will be reporting earnings this Thursday before market open. Here’s what to look for.
Belden beat analysts’ revenue expectations last quarter, reporting revenues of $720.1 million, up 8.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue estimates.
Is Belden a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Belden’s revenue to grow 9.3% year on year, slowing from the 16.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Belden has a history of exceeding Wall Street’s expectations.
Looking at Belden’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Corning delivered year-on-year revenue growth of 12.6%, missing analysts’ expectations by 4.1%, and LSI reported revenues up 13.6%, topping estimates by 9%. LSI traded up 6.7% following the results.
Read our full analysis of Corning’s results here and LSI’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 14.1% on average over the last month. Belden is up 15.5% during the same time and is heading into earnings with an average analyst price target of $171.75 (compared to the current share price of $128.01).
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