Belden Reports First Quarter 2024 Results and Acquisition of Precision Optical Technologies, Inc.
Belden Inc (BDC)
Last belden inc earnings: 4/29 07:30 am
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US:NYSE Investor Relations:
investor.belden.com/investor-relations/overview/default.aspx
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Source: Business Wire
ST. LOUIS--(BUSINESS WIRE)--Belden Inc. (NYSE: BDC) (the “Company”), a leading global supplier of network infrastructure and digitization solutions, today reported fiscal first quarter results for the period ended March 31, 2024.First Quarter 2024 HighlightsRevenues of $536 million, down 17% y/y and down 17% y/y organicallyGAAP EPS of $0.90, down 38% y/yAdjusted EPS of $1.24, down 26% y/yEntered into a definitive agreement to purchase Precision Optical Technologies, Inc. for $290 million in cashPurchased 0.7 million shares for $58 million during the quarter“Stability once again is the key takeaway this quarter, with our teams delivering first quarter revenues and EPS exceeding expectations,” said Ashish Chand, President and CEO of Belden Inc. “Our team executed well in a dynamic environment as customers continue to work through inventory. We remain focused on growing our solutions capabilities through organic growth and disciplined capital deployment. Therefore, I am pleased to an
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