10-K · February 17, 2026
Belden describes a two-segment strategy (Smart Infrastructure Solutions and Automation Solutions) focused on fiber/copper network systems, 5G/broadband and IT/OT digitization, supplemented by targeted acquisitions…
Earnings analysis · 10-Q
BDC earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
In its Q1 2026 10-Q filing, Belden Inc. reports revenues of $696.4 million, a notable increase from $624.9 million in the prior year, with a GAAP EPS of $1.30. The company faces decreased operating cash flow and rising…
Read full summary
In its Q1 2026 10-Q filing, Belden Inc. reports revenues of $696.4 million, a notable increase from $624.9 million in the prior year, with a GAAP EPS of $1.30. The company faces decreased operating cash flow and rising capital expenditures, while adjusting its liquidity outlook due to recent acquisitions and investments.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.3
What stood out
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Strong Revenue Growth
Belden reported revenues of $696.4 million, up 11.5% compared to $624.9 million year-over-year.
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Adjusted EBITDA Improvements
Adjusted EBITDA for the quarter increased to $118.1 million, up from $104.0 million in the prior year, reflecting an adjusted EBITDA margin of 17.0%.
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Positive Segment Performance in Broadband and Automation
Revenues in Broadband grew to $155.3 million from $146.6 million, and Automation increased to $387.0 million from $350.8 million year-over-year.
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Capital Expenditures Rise
Capital expenditures totaled $44.4 million in Q1 2026, up from $32.2 million during the previous year's comparable quarter.
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Total Cash Balance Ended Strong
Cash and cash equivalents as of March 29, 2026, were $272.2 million, with $191.7 million held outside the U.S.
What to watch
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Operating Cash Flow Decline
Net cash used for operating activities was $18.7 million in Q1 2026, down from inflow of $7.4 million in the prior year.
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Increase in Days Sales Outstanding
Days sales outstanding increased from 60 days in Q1 2025 to 63 days in Q1 2026, impacting cash flow negatively.
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Heavy Debt Levels
Outstanding debt obligations reached $1.273 billion, which could impact liquidity and future financing options.
Management's outlook
Guidance for Q2 2026 is provided with a forecasted revenue between $735 million and $750 million and GAAP EPS between $1.53 and $1.63, reflecting seasonal patterns.
Earlier filings 4
10-Q · October 30, 2025
Revenue for the quarter was $698,221,000, a sequential increase of about $26 million and a year-over-year increase of roughly $43 million; the company outperformed the quarter’s revenue consensus. Gross margin of 37.7%…
10-Q · July 31, 2025
The 10-Q shows a beat on both revenue and EPS for the quarter: revenue of $671,992,000 (vs. $655,491,506 est.) and GAAP EPS of $1.89 (vs. $1.74 est.). Gross margin improved to 38.5% and operating margin was 11.8%…
10-Q · May 1, 2025
Belden's 10-Q for the quarter ended March 30, 2025 shows a slight beat to consensus with revenue of $624,861,000 (vs. $616,140,000 est.) and reported EPS of $1.60 (vs. $1.49 est.). Gross margin expanded to 39.3% while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.