BDC

Belden Inc. BDC delivered an impressive second-quarter 2026 performance, backed by robust demand across its end markets, strengthening momentum in artificial intelligence (AI) data centers, industrial automation and improving profitability.The company reported record revenues of $750 million, up 12% year over year and 8% organically. Adjusted earnings surged 24% year over year to $2.34 per share. Adjusted EBITDA increased 28% to $146 million, while the corresponding margin expanded 250 basis points to 19.5%. Moreover, record orders of $836 million increased 19% year over year, resulting in a healthy book-to-bill ratio of 1.11.The solid order trends, growing exposure to AI infrastructure and the recently completed RUCKUS Networks acquisition pose additional tailwinds. Let us dig a little deeper into the underlying factors that might influence Belden’s growth trajectory. Belden's increasing presence in AI and hyperscale data centers is one of its most compelling growth drivers. Management noted that its data center business was up more than 40% year over year in the second quarter, making it one of the company's fastest-growing businesses.The company is also expanding its addressable opportunity beyond the traditional "gray space" of data centers — covering areas such as cooling, facility controls and power systems — into the "white space" or the data halls where computing equipment resides. This expansion should increase Belden's content opportunity per data center and strengthen relationships with hyperscale customers.As AI workloads fuel enormous requirements for high-speed, reliable connectivity, the company's fiber, networking and connectivity portfolio appears well placed to capitalize on rising infrastructure spending. Another encouraging development is growing demand across Belden's industrial markets. Organic revenues in discrete manufacturing and process manufacturing increased at double-digit rates during the second quarter, reflecting improving industrial automation spending. Orders in the Automation Solutions category increased 27% sequentially, with a book-to-bill ratio of 1.14.Belden is bullish about the emerging "physical AI" opportunity. As factories and distribution facilities deploy more robots, autonomous machines and AI-enabled systems, these devices require highly reliable, low-latency and mission-critical networks. Belden's long-standing expertise in ruggedized industrial connectivity could give it an advantage as AI investment moves from data centers into factories, warehouses and other physical environments. This represents a potentially sizable long-term growth opportunity that remains in the early stages of adoption. The acquisition of RUCKUS Networks represents another major catalyst. The deal significantly broadens Belden's capabilities by combining its existing wired and industrial networking portfolio with RUCKUS' enterprise Wi-Fi and intelligent cloud-managed networking solutions.The combined platform enables Belden to offer customers seamless connectivity, spanning passive network infrastructure, wired networking, Wi-Fi 7 and cloud-based network management. The transaction should also create meaningful cross-selling opportunities across manufacturing facilities, warehouses, healthcare establishments, hospitality properties and large venues. Management expects RUCKUS to be immediately accretive to revenues, adjusted EBITDA and earnings, while increasing the proportion of higher-value solutions in Belden's portfolio.The combination also supports Belden's longer-term transition from connectivity products supplier to integrated networking solutions provider. Greater solutions penetration could improve customer stickiness, expand wallet share and support healthier margins over time. Belden has declined 12% in the past year against the industry’s growth of 177%. It has underperformed peers like Ciena Corporation CIEN and Viavi Solutions Inc. VIAV. While VIAV has gained 238.5%, CIEN soared 318% over this period. One-Year BDC Stock Price Performance Image Source: Zacks Investment Research Belden's record second-quarter performance highlights strengthening underlying business momentum. RUCKUS significantly enhances BDC's networking portfolio and could accelerate its evolution into a higher-value, full-stack networking solutions provider. Improving order trends lend support to the inherent growth potential.Belden's strong order pipeline, expanding exposure to secular AI and automation spending and improving profitability make its growth story increasingly attractive. Investors seeking exposure to the networking infrastructure supporting AI, automation and rising data consumption may consider buying BDC stock following its solid second-quarter showing.Belden currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Belden Inc (BDC) : Free Stock Analysis Report Ciena Corporation (CIEN) : Free Stock Analysis Report Viavi Solutions Inc. (VIAV) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the electronic components industry, including Belden (NYSE:BDC) and its peers. Like many equipment and component manufacturers, electronic components companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include data centers and telecommunications, which can benefit companies whose optical and transceiver offerings fit those markets. But like the broader industrials sector, these companies are also at the whim of economic cycles. Consumer spending, for example, can greatly impact these companies’ volumes. The 8 electronic components stocks we track reported an exceptional Q2. As a group, revenues beat analysts’ consensus estimates by 3.3% while next quarter’s revenue guidance was 6.9% above. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. With its enamel-coated copper wire used in WWI for the Allied forces, Belden (NYSE:BDC) designs, manufactures, and sells electronic components to various industries. Belden reported revenues of $750.2 million, up 11.6% year on year. This print was in line with analysts’ expectations, and overall, it was an exceptional quarter for the company with an impressive beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations. Belden delivered the weakest performance against analyst estimates among its peers. Interestingly, the stock is up 23.7% since reporting and currently trades at $126.21. We think Belden is a good business, but is it a buy today? Read our full report here, it’s free. Founded in 1962, Allient (NASDAQ:ALNT) develops and manufactures precision and specialty-controlled motion components and systems. Allient reported revenues of $153.8 million, up 10.2% year on year, outperforming analysts’ expectations by 5.5%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates. The market seems happy with the results as the stock is up 6.6% since reporting. It currently trades at $99.45. Is now the time to buy Allient? Access our full analysis of the earnings results here, it’s free. Founded by a former CEO and Harvard-educated entrepreneur Scott Keeneyn, nLIGHT (NASDAQ:LASR) offers semiconductor and fiber lasers to the industrial, aerospace & defense, and medical sectors. nLIGHT reported revenues of $82.59 million, up 33.8% year on year, exceeding analysts’ expectations by 4.6%. It was a satisfactory quarter as it also posted EPS in line with analysts’ estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly. As expected, the stock is down 37% since the results and currently trades at $47.49. Read our full analysis of nLIGHT’s results here. Supplying windows for some of the United States’s earliest spacecraft, Corning (NYSE:GLW) provides glass and other electronic components for the consumer electronics, telecommunications, automotive, and healthcare industries. Corning reported revenues of $4.74 billion, up 17.1% year on year. This result topped analysts’ expectations by 2%. Zooming out, it was a satisfactory quarter as it also logged EPS guidance for next quarter topping analysts’ expectations but revenue guidance for next quarter missing analysts’ expectations. Corning had the weakest guidance update in the group. The stock is up 5.8% since reporting and currently trades at $151.66. Read our full, actionable report on Corning here, it’s free. Pioneering technologies for radio frequency power delivery, Advanced Energy (NASDAQ:AEIS) provides power supplies, thermal management systems, and measurement and control instruments for various manufacturing processes. Advanced Energy reported revenues of $574.1 million, up 30% year on year. This print surpassed analysts’ expectations by 5.6%. Overall, it was an incredible quarter as it also put up EPS guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ adjusted operating income estimates. Advanced Energy pulled off the biggest analyst estimate beat of the whole group. The stock is down 1.4% since reporting and currently trades at $292.19. Read our full, actionable report on Advanced Energy here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Belden’s share price has delivered a 150.6% return over the past five years, yet the current valuation checks describe only a mixed picture rather than a clear bargain or clear overvaluation. A 150.6% return over five years points to strong long term shareholder gains that now need to be weighed against what investors are paying for each dollar of earnings and cash flow. Valuation can be supported if Belden continues to convert revenue into cash efficiently, while any pressure on margins or higher capital needs may limit how much investors are prepared to pay for the stock. Belden scores 3 out of 6 on the broader valuation checks, which is a mixed read on pricing and suggests neither a clear discount nor a clear premium here. The issue now is whether Belden’s recent share price strength already reflects these fundamentals or if there is still valuation support at current levels. Find out why Belden's 14.5% return over the last year is lagging behind its peers. The P/E ratio is a useful way to see what investors are paying today for each dollar of Belden earnings. For Belden, the current P/E sits around 21.6x, which is well below the Electronic industry average of about 31.2x. The stock also trades below the peer group average of roughly 89.6x, so the market is valuing Belden earnings more conservatively than many competitors. A tailored fair P/E ratio for Belden is estimated at about 31.5x, which is higher than the current market multiple. That gap suggests investors are not paying as much for Belden earnings as the model indicates might be reasonable, given its profile and risks. For you as a shareholder or potential investor, this points to a valuation that is cheaper than both the sector benchmark and this fair value yardstick on an earnings basis. On the P/E multiple, Belden stock currently appears undervalued compared with both the industry and its modelled fair ratio. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives for Belden pick up where this valuation puzzle leaves off. They spell out which assumptions on Belden's future growth, margins and earnings would need to hold for the stock to be worth materially more or less than today's price. Each narrative links a fair value estimate to a clear story about Belden's possible catalysts and risks so you can see over time which version of events appears closer to what is actually happening. Share a Narrative on Belden, add your voice to the Simply Wall St community and present a clear, number driven case on the potential direction of its growth, margins and execution. You can then track how your view holds up as new results and updates emerge. Do you think there's more to the story for Belden? Head over to our Community to see what others are saying! Belden screens as undervalued on current earnings multiples, yet the broader valuation checks are only mixed. That combination suggests the simple P/E comparison is helpful but not the full story. The key question from here is whether Belden can sustain the earnings and cash conversion that would justify any future re rating, rather than the market being cautious for good reason. The crux of the debate is whether current margins and capital needs hold steady enough for investors to keep assigning even this discounted multiple to the stock. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include BDC. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Belden Inc? Here are five stocks we like better. Record Q2 performance: Revenue rose 12% year over year to $750 million, organic growth reached 8%, and adjusted EPS increased 24% to $2.34, exceeding guidance. Orders grew 19% year over year to $836 million, producing a 1.11 book-to-bill ratio. Data-center and AI momentum accelerated: Belden booked approximately $40 million in hyperscaler orders, including a roughly $20 million high-density fiber contract for an AI data center. Management also expects “physical AI” applications to reach 15% to 20% of revenue over the next several years. RUCKUS acquisition drives expansion but raises leverage: The acquisition closed July 1 and is expected to contribute immediately to revenue, EPS and EBITDA, with combined annual revenue estimated at $3.6 billion. Third-quarter revenue guidance is $950 million to $970 million, while post-acquisition leverage is expected to rise to about 3.9 times before planned debt reduction. Belden (NYSE:BDC) reported record second-quarter results as strong industrial demand, data-center activity and improving order trends lifted revenue and earnings above the company’s guidance range. Revenue rose 12% year over year to a record $750 million, including 8% organic growth, while adjusted earnings per share increased 24% to $2.34. Both figures exceeded the high end of Belden’s outlook. The company recorded $836 million in orders, up 19% from a year earlier and 23% sequentially, producing a book-to-bill ratio of 1.11. → Microsoft Just Flipped the AI Spending Narrative Overnight President and CEO Ashish Chand said the quarter was “the strongest quarter in company history,” citing double-digit organic growth in the company’s discrete manufacturing, process manufacturing and enterprise growth verticals. Adjusted gross profit increased 14% to $297 million, with a 39.6% margin. Adjusted EBITDA rose 28% to $146 million, and the adjusted EBITDA margin reached 19.5%. CFO Jeremy Parks said results included a net benefit of about $0.25 per share tied to the expected recovery of IEEPA tariffs, partly offset by new tariffs. Excluding tariff refunds and copper pass-throughs, Parks said incremental EBITDA margins exceeded 30%. → 2 Unique Space ETFs That Could Upend the Industry Belden highlighted expanding activity in data centers and AI infrastructure, which Chand characterized as one of the company’s highest-priority growth areas. The company booked about $40 million in hyperscaler orders during the second quarter, including a roughly $20 million contract with a Tier 1 hyperscaler for high-density fiber connectivity inside an AI data center’s white space, or data hall. The order is in production, with deliveries expected over multiple quarters. Chand said the win was based on Belden’s ability to deliver qualified products at scale and on schedule, rather than on price. The products include high-density MPO connectors and fiber connectivity with 144- and 288-fiber strand counts. → MarketBeat Week in Review – 07/27- 07/31 Belden’s traditional enterprise data-center business has an annual revenue run rate of about $75 million, management said. Its hyperscaler business has grown to more than a $100 million annualized business, while the combined data-center and AI infrastructure business, excluding RUCKUS Networks, has an annual revenue run rate of approximately $175 million or more. Chand said the company aims to use entry points in either the white space or gray space—such as power, cooling, controls and building systems—to develop broader data-center infrastructure opportunities spanning both areas. The company also announced a specification win with a global retailer to provide networking for autonomous docking-door systems across U.S. distribution centers. Initial orders have been received. Belden estimates the full fleet opportunity at approximately $20 million over four years across more than 4,500 autonomous installations. Chand described the opportunity as an example of “physical AI,” in which autonomous machines require ruggedized, low-latency connectivity in industrial settings. He said Belden expects physical AI to become roughly 15% to 20% of revenue over the next several years, though adoption will develop in stages across manufacturing, warehousing and process industries. Belden closed its acquisition of RUCKUS Networks on July 1, meaning the business will first be included in third-quarter results. Management said RUCKUS is immediately accretive to revenue growth, earnings per share and EBITDA. With RUCKUS, Belden now offers passive infrastructure, switching, wireless networking and cloud-management software across industrial and enterprise environments. The combined company is estimated to have annual revenue of $3.6 billion, gross margins of about 43% and adjusted EBITDA margins of 18%, based on hypothetical full-year combined results. Management stressed those figures are estimates rather than guidance. RUCKUS brings a gross margin profile above 60%, according to Chand, supported by its mix of Wi-Fi access points, enterprise switching, cloud network-management software and services. The acquisition also moves Belden’s solutions mix above 20% of revenue, reaching a target the company had set for 2028 three years ahead of schedule. Management said customer discussions since the close have centered on converged IT and operational technology networks, along with wireless and wired network integration. Chand pointed to potential applications in sports and entertainment venues, warehousing, discrete manufacturing, healthcare and hospitality. RUCKUS is positioned in high-density and high-interference environments where wireless reliability and latency are particularly important, Chand said. He described Wi-Fi 7 adoption as being in the middle stages in enterprise-oriented markets such as hospitality, healthcare and education, while industrial adoption remains at an earlier stage. Belden ended the second quarter, on a standalone basis, with $349 million of cash, net leverage of 1.7 times and trailing 12-month free cash flow of $212 million. Following the RUCKUS acquisition, the company expects net leverage to rise to about 3.9 times net debt to adjusted EBITDA at the end of the third quarter. The company expects the combined business to generate more than $500 million in free cash flow during the next 18 months, which it plans to use for debt reduction. Belden targets leverage of 3.6 times or less by the end of 2026, about 2.9 times by the end of 2027 and its long-term target of 1.5 times by the end of 2029. For the third quarter, including RUCKUS for the full period, Belden projected revenue of $950 million to $970 million. It forecast GAAP EPS of $0.69 to $0.84 and adjusted EPS of $2.15 to $2.30, representing year-over-year adjusted EPS growth of 9% to 17%. Parks said third-quarter guidance implies 6% to 8% year-over-year organic growth for Belden’s legacy business. He added that RUCKUS is expected to contribute a net $0.12 to adjusted EPS guidance after accounting for interest expense associated with acquisition financing. Management expects automation revenue growth to remain around 10% year over year in the third quarter, while Smart Buildings and Broadband are expected to contribute more to sequential growth. Parks said third-quarter EBITDA margins are expected to be about 17.6% to 17.7%, reflecting temporary RUCKUS integration costs and a sales mix shift toward Smart Buildings and Broadband, which carry lower margins than the Automation segment. Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management. Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Belden Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

ST. LOUIS, July 30, 2026--(BUSINESS WIRE)--Belden Inc. (NYSE: BDC) ("Belden" or the "Company"), a global full-stack networking solutions company, today reported fiscal second quarter results for the period ended June 28, 2026. Second Quarter 2026 Highlights Record revenues of $750 million, up 12% y/y and up 8% y/y organically GAAP EPS of $1.74, up 14% y/y Adjusted EPS of $2.34, up 24% y/y Record orders of $836 million, up 19% y/y with a book-to-bill of 1.11 Completed the previously announced acquisition of RUCKUS Networks on July 1, 2026, after the end of the second quarter "Belden delivered a record second quarter, with record revenue of $750 million, up 12% year over year, record orders of $836 million, up 19% year over year with a book-to-bill of 1.11, and adjusted EPS of $2.34, up 24% year over year," said Ashish Chand, President and CEO of Belden Inc. "Demand across our end markets is robust and broad-based, and our results reflect the strength of that environment. We have been building our presence in AI data centers for several quarters, and that investment is beginning to show up in our order book. Physical AI, the deployment of intelligent, autonomous systems across factories and distribution centers, is an emerging opportunity we are well-positioned to capture. With RUCKUS now part of Belden, we deliver every layer of the network, from passive infrastructure to Wi-Fi 7 to intelligent cloud management, from a single source. We are excited about what this platform means for our customers and our growth." Second Quarter 2026 Revenues for the quarter increased by $78 million, or 12%, to $750 million from $672 million in the year-ago period. Revenues increased 8% organically. Net income was $69 million, compared to $61 million in the year-ago period. Net income as a percentage of revenues was 9.1%, the same as the year-ago period. EPS totaled $1.74 for the quarter, compared to $1.53 in the year-ago period. During the second quarter of 2026, the Company recognized a net EPS benefit of approximately $0.25 related to the expected recovery of International Emergency Economic Powers Act ("IEEPA") tariffs, partially offset by the introduction of new tariffs. Adjusted EBITDA was $146 million, up $32 million, or 28%, compared to $114 million in the year-ago period. Adjusted EBITDA margin was 19.5%, up 250 bps, compared to 17.0% in the year-ago period. Adjusted EPS was $2.34, increasing 24% compared to $1.89 in the year-ago period. Adjusted results are non-GAAP measures, and a non-GAAP reconciliation table is provided as an appendix to this release. Outlook "Our third quarter outlook reflects a business with strong underlying demand and a meaningfully expanded portfolio following the close of RUCKUS," said Dr. Chand. "Orders entering the quarter are at record levels, our solutions pipeline continues to grow, and we are seeing increasing engagement from data center and physical AI customers. While the near-term macroeconomic environment warrants continued discipline, the long-term fundamentals driving our markets remain compelling. We are focused on execution, integration, and capturing the opportunity ahead of us." Assuming the continuation of current market conditions, the table below provides guidance for the third quarter of 2026, including the contribution from the acquisition of RUCKUS. Earnings Conference Call Management will host a conference call today at 8:30 am ET to discuss Belden's quarterly results. The listen-only audio of the conference call will be broadcast live online at https://investor.belden.com. The dial-in number for participants is 1-800-330-6710 with confirmation code 6930188. A replay of this conference call will remain accessible in the investor relations section of the Company’s website for a limited time. Earnings per Share (EPS) and Organic Growth All references to EPS within this earnings release refer to net income per diluted share. Organic growth, a non-GAAP measure, is calculated as the change in revenues excluding the impacts from currency exchange rates, copper prices, acquisitions, and divestitures. BELDEN INC.RECONCILIATION OF NON-GAAP MEASURES(Unaudited) In addition to reporting financial results in accordance with accounting principles generally accepted in the United States, we provide non-GAAP operating results adjusted for certain items, including: asset impairments; accelerated depreciation expense due to plant consolidation activities; purchase accounting effects related to acquisitions, such as the adjustment of acquired inventory to fair value, and transaction costs; severance, restructuring, and acquisition integration costs; gains (losses) recognized on the disposal of businesses and assets; amortization of intangible assets; gains (losses) on debt extinguishment; certain gains (losses) from patent settlements; discontinued operations; and other costs. We adjust for the items listed above in all periods presented, unless the impact is clearly immaterial to our financial statements. When we calculate the tax effect of the adjustments, we include all current and deferred income tax expense commensurate with the adjusted measure of pre-tax profitability. We utilize the adjusted results to review our ongoing operations without the effect of these adjustments and for comparison to budgeted operating results. We believe the adjusted results are useful to investors because they help them compare our results to previous periods and provide important insights into underlying trends in the business and how management oversees our business operations on a day-to-day basis. As an example, we adjust for acquisition-related expenses, such as amortization of intangibles and impacts of fair value adjustments because they generally are not related to the acquired business' core business performance. As an additional example, we exclude the costs of restructuring programs, which can occur from time to time for our current businesses and/or recently acquired businesses. We exclude the costs in calculating adjusted results to allow us and investors to evaluate the performance of the business based upon its expected ongoing operating structure. We believe the adjusted measures, accompanied by the disclosure of the costs of these programs, provides valuable insight. Adjusted results should be considered only in conjunction with results reported according to accounting principles generally accepted in the United States. BELDEN INC.RECONCILIATION OF NON-GAAP MEASURES(Unaudited) We define free cash flow, which is a non-GAAP financial measure, as net cash from operating activities adjusted for capital expenditures net of the proceeds from the disposal of assets. We believe free cash flow provides useful information to investors regarding our ability to generate cash from business operations that is available for acquisitions and other investments, service of debt principal, dividends and share repurchases. We use free cash flow, as defined, as one financial measure to monitor and evaluate performance and liquidity. Non-GAAP financial measures should be considered only in conjunction with financial measures reported according to accounting principles generally accepted in the United States. Our definition of free cash flow may differ from definitions used by other companies. Our guidance is based upon information currently available regarding events and conditions that will impact our future operating results. In particular, our results are subject to the factors listed under "Forward-Looking Statements" in this release. In addition, our actual results are likely to be impacted by other additional events for which information is not available, such as asset impairments, adjustments related to acquisitions and divestitures, severance, restructuring, and acquisition integration costs, gains (losses) recognized on the disposal of assets, gains (losses) on debt extinguishment, discontinued operations, and other gains (losses) related to events or conditions that are not yet known. Forward-Looking Statements This release contains, and any statements made by us concerning the subject matter of this release may contain, forward-looking statements, including anticipated benefits from the RUCKUS acquisition, expected strengthening of Belden’s product offering, future market, growth and synergy opportunities, and the level of RUCKUS expected growth and financial contributions, including adjusted earnings per share, adjusted gross margin, adjusted EBITDA and adjusted EBITDA margin, and our outlook for net leverage, the remainder of 2026 and beyond. Forward-looking statements also include any statements regarding future financial performance (including revenues, growth, expenses, earnings, margins, cash flows, dividends, capital expenditures and financial condition), plans and objectives, and related assumptions. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "forecast," "guide," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" and similar expressions. Forward-looking statements reflect management’s current beliefs and expectations and are not guarantees of future performance. Pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts, and may not reflect actual results. Actual results may differ materially from those suggested by any forward-looking statements for a number of reasons, including, without limitation: the inability to integrate and/or realize the benefits of the RUCKUS acquisition, including expected synergies; that the announcement of the acquisition could disrupt Belden’s or RUCKUS’ relationships with customers, employees or other business partners; disruptions in the Company’s information systems including due to cyber-attacks; the impact of volatility in global trade policies and tariffs; the impact of disruptions in the global supply chain, including the inability to timely obtain raw materials and components in sufficient quantities on commercially reasonable terms; foreign and domestic political, economic and other uncertainties, including changes in currency exchange rates; the impact of a challenging global economy, including the impact of inflation, or a downturn in served markets; inflation and changes in the price and availability of raw materials leading to higher input and labor costs; the competitiveness of the global markets in which we operate; the inability of the Company to develop and introduce new products; competitive responses to our products; the inability to successfully implement artificial intelligence into our product offerings and back office processes; our reliance on legacy information technology systems and the challenges associated with their maintenance and upgrade; difficulty in forecasting revenues due to the unpredictable timing of orders related to customer projects as well as the impacts of channel inventory; the inability to execute and realize the expected benefits from strategic initiatives (including revenue growth, cost control, and productivity improvement programs); the inability to achieve our strategic priorities in emerging markets; the presence of substitute products in the marketplace; the impacts of extreme weather events and other climate-related catastrophes; the possibility of future epidemics or pandemics; volatility in credit and foreign exchange markets; changes in tax laws and variability in the Company’s quarterly and annual effective tax rates; the inability to successfully complete and integrate acquisitions, in furtherance of the Company’s strategic plan, as well as the inability to accurately forecast the financial impacts of acquisitions; the inability to retain key employees; disruption of, or changes in, the Company’s key distribution channels; the presence of activists proposing certain actions by the Company; perceived or actual product failures; the impact of regulatory requirements and other legal compliance issues; inability to satisfy the increasing expectations with respect to sustainability matters; assertions that the Company violates the intellectual property of others and the ownership of intellectual property by competitors and others that prevents the use of that intellectual property by the Company; risks related to the use of open source software; the impairment of goodwill and other intangible assets and the resulting impact on financial performance; disruptions and increased costs attendant to collective bargaining groups and other labor matters; and other factors. For a more complete discussion of risk factors, please see our Annual Report on Form 10-K for the period ended December 31, 2025, filed with the SEC on February 17, 2026. Although the content of this release represents our best judgment as of the date of this report based on information currently available and reasonable assumptions, we give no assurances that the expectations will prove to be accurate. Deviations from the expectations may be material. For these reasons, Belden cautions readers to not place undue reliance on these forward-looking statements, which speak only as of the date made. Belden disclaims any duty to update any forward-looking statements as a result of new information, future developments, or otherwise, except as required by law. About Belden Belden Inc. delivers complete connection solutions that unlock untold possibilities for our customers, their customers and the world. We advance ideas and technologies that enable a safer, smarter and more prosperous future. Throughout our 120+ year history we have evolved as a company, but our purpose remains – making connections. By connecting people, information and ideas, we make it possible. We are headquartered in St. Louis and have manufacturing capabilities in North America, Europe, Asia and Africa. For more information, visit us at www.belden.com; follow us on Facebook, LinkedIn and X/Twitter. BDC-Financial View source version on businesswire.com: https://www.businesswire.com/news/home/20260730602896/en/ Contacts Belden Investor Relations Aaron Reddington, CFA (317) 219-9359 [email protected]

This article first appeared on GuruFocus. Revenue: Record revenue of $750 million, up 12% year-over-year and above the high end of guidance. Organic Revenue Growth: 8% for the quarter, with discrete, process, and enterprise growth verticals all up double-digits. Orders: Record orders of $836 million, up 19% year-over-year and up 23% sequentially. Book-to-Bill Ratio: 1.11. Adjusted Gross Profit: $297 million, up 14%, with margins of 39.6%. Adjusted EBITDA: $146 million, up 28% year-over-year, with EBITDA margins of 19.5%. Adjusted EPS: $2.34, up 24% year-over-year, above the high end of guidance. Net Tariff Benefit: Approximately $0.25 per share related to the expected recovery of IEPA tariffs. Free Cash Flow: Trailing 12-month free cash flow of $212 million. Net Leverage: 1.7 times on a stand-alone basis at the end of the second quarter. Third Quarter 2026 Revenue Guidance: Expected to be between $950 million and $970 million, including the contribution from Ruckus Networks. Third Quarter 2026 Adjusted EPS Guidance: Expected to be between $2.15 and $2.30. Warning! GuruFocus has detected 6 Warning Sign with CROX. Is BDC fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Belden Inc (NYSE:BDC) achieved record quarterly revenue of $750 million, up 12% year-over-year, and record orders of $836 million, up 19% year-over-year. The company secured a $20 million contract with a Tier 1 hyperscaler for fiber connectivity in an AI data center, expanding its presence into the 'white space'. Belden Inc (NYSE:BDC) won a significant specification deal with a leading global retailer to network autonomous elements across US distribution centers, showcasing its physical AI strategy. The acquisition of Ruckus Networks closed on July 1, 2026, which is immediately accretive to revenue, EPS, and EBITDA, and pushes the solutions mix past 20%. The company reported strong broad-based demand with double-digit organic growth in its key growth verticals of data centers and healthcare, and a book-to-bill ratio of 1.11. The second quarter results included a net tariff benefit of approximately $0.25 per share, which may not be recurring and masks underlying operational performance. Adjusted EBITDA margins are expected to be temporarily impacted in the third quarter due to integration inefficiencies from the Ruckus acquisition. Net leverage is expected to increase to approximately 3.9x following the Ruckus close, a significant jump from 1.7x at the end of the second quarter. The company faces an unfavorable mix impact sequentially as growth in the third quarter is expected to come from the lower-margin Smart Buildings and Broadband segments. The broadband segment's organic growth was flat year-over-year, and the company is dependent on a second-half recovery driven by DOCSIS upgrades and new fiber products. Here are the key highlights from the Belden Inc (NYSE:BDC) Q2 2026 earnings call, presented as Q&A summaries. Q: Can you provide more context on the $20 million hyperscaler fiber connectivity win for the AI data center white space? What drove this win, and how large could this business become?A: Ashish Chand (President & CEO): This win was for a high-density fiber connectivity bundle (144-288 fiber strand count) with a Tier 1 hyperscaler. Our differentiation came from our standardized architecture, reliable supply chain, and ability to deliver at scale under urgent timelines, not just price. This expands our presence from the "gray space" (facility controls) into the "white space" (the data hall itself). Our total data center and AI infrastructure business is now at an annual run rate of approximately $175 million, growing over 40% year-over-year. While currently in the low single-digits of total revenue, we see this becoming a double-digit percentage of our business over time. Q: What is the strategy for the AI data center market, and how do you compete against larger, more established players?A: Ashish Chand (President & CEO): Our strategy is to offer solutions that straddle both the "white space" (data hall) and "gray space" (cooling, power, security). Our point of entry can be from either side, but we aim to elevate the conversation to a combined solution. Our key differentiator is that no competitor offers a single backbone designed to efficiently and reliably address challenges across both environments. We are proving this model with large manufacturing clients and are now starting to prove it in the AI data center. Q: Can you share early customer feedback on the Ruckus acquisition and any examples of interest in combined Belden-Ruckus solutions?A: Ashish Chand (President & CEO): Customer response has been immediate and very positive. There is a strong underlying demand for IT/OT convergence, wireless/wireline convergence, and edge/cloud convergence. We are seeing the most excitement in venues (sports stadiums, large campuses), warehousing, and discrete manufacturing. For example, the customer from our physical AI win has already asked us to solve for seamlessly connecting all their AGVs and robots using Wi-Fi 7. We had to hold back our teams pre-close due to the high level of excitement, but now that the deal is closed, we expect to announce combined wins within months. Q: Where does Ruckus stand in the Wi-Fi 7 upgrade cycle, and how does the acquisition affect Belden's long-term business model?A: Ashish Chand (President & CEO): Ruckus is in the middle of the cycle for enterprise markets (hospitality, healthcare) but still in the early stages for industrial markets, which represents a major growth opportunity. Ruckus was the first to have a commercially available Wi-Fi 7 solution. The long-term business model doesn't change substantially, but we see organic growth moving from mid-single-digits towards higher single-digits. We will articulate a more complete model at a later date. Q: What are the expectations for incremental margins going forward, especially with the addition of Ruckus?A: Jeremy Parks (CFO): There is a clear opportunity for higher incremental margins because Ruckus has very high variable margins. While we are not changing our formal 25% to 30% incremental EBITDA margin guidance, it is realistic to think we could be closer to the high end of that range. When Ruckus grows organically, it is incredibly accretive for Belden. Q: What is the potential for the "Physical AI" market, and how is Belden positioned to capture it?A: Ashish Chand (President & CEO): This is a multi-year cycle, taking 2-3 years to reach an inflection point. It will start with mature sub-verticals in discrete manufacturing, warehouse automation, and process manufacturing. We are already working with customers on network designs for autonomous operations. Over the next couple of years, this could become 15-20% of our revenue base. The market for physical AI is in the multiple billions of dollars, and we are well-resourced and aligned with the customers who are ready to take the next step. Q: Can you help us understand the margin expectations for Q3, given the tariff benefits in Q2 and the addition of Ruckus?A: Jeremy Parks (CFO): Q2 EBITDA margins were 19.5%, but excluding the $0.25 tariff benefit, they were about 17.5%. Our Q3 guidance implies EBITDA margins in a similar range of 17.6%-17.7%. While Ruckus is a higher-margin business, we have temporary inefficiencies from TSAs during the integration. Also, the sequential growth in Q3 will come more from the Smart Buildings and Broadband businesses, which have slightly lower margins than our Automation business. On a year-over-year basis, incrementals including Ruckus are 35% or higher. Q: How does Ruckus fit into the competitive landscape against companies like Juniper, HP (Aruba), and Cisco?A: Ashish Chand (President & CEO): We compete with all of them, but Ruckus is engineered for high-density, high-interference environments like venues, hospitality, healthcare, and industrial settings. Our RF and antenna technology is a key differentiator in terms of performance and total cost of ownership. We are not focused on price or competing for broad enterprise campus deals. The real differentiator is the combined Belden-Ruckus offering for IT/OT networks, providing a full end-to-end solution for industrial-grade customers that no other company can match. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Teradyne TER delivered second-quarter 2026 non-GAAP earnings of $2.47 per share, up 333.3% year over year and beating the Zacks Consensus Estimate by 21.08%.Revenues surged 103.9% to $1.329 billion and topped the consensus mark by 9.37%. Results reflected record Memory revenues, supported by continued DRAM strength and a resurgence in NAND final test. The company also registered its second consecutive quarter of record revenues. Semiconductor Test generated revenues of $1.122 billion, representing 84.4% of total quarterly sales. The segment remained Teradyne’s primary growth engine as demand for advanced compute and memory testing stayed strong.Product Test contributed $107 million, or 8.1% of total revenues. Robotics generated $100 million, which accounted for the remaining 7.5%. The distribution shows that Semiconductor Test continued to dominate Teradyne’s revenue mix, although each business group participated in the year-over-year expansion. Teradyne, Inc. price-consensus-eps-surprise-chart | Teradyne, Inc. Quote Record Memory revenues were driven by continued strength in DRAM and renewed demand for NAND final-test systems. These trends supported another strong quarter for Teradyne’s semiconductor-testing portfolio.Management linked the performance to its strategy of capturing test and robotics opportunities from the wafer stage through the AI data center. The company also noted robust near-term AI-related demand across its served markets. Non-GAAP gross profit was $794.6 million, with the gross margin reaching 59.8%. This compared with $373.3 million and 57.3%, respectively, in the year-ago quarter, marking a 250-basis-point expansion.Selling and administrative expenses rose 22% year over year to $192.5 million. However, these costs represented 14.5% of revenues, down from 24.2% in the prior-year period as sales growth outpaced the increase in spending.Engineering and development expenses climbed 32% year over year to $156.3 million. As a share of revenues, the expense fell to 11.8% from 18.2%, indicating that higher development spending was absorbed by the larger revenue base.Non-GAAP income from operations increased 356.5% year over year to $448.3 million. The non-GAAP operating margin expanded to 33.7% from 15.1%, reflecting substantial operating leverage from the sharp revenue increase. As of June 28, 2026, Teradyne’s cash and cash equivalents (including marketable securities) were $354.8 million, down from $245.5 million as of March 29, 2026.Net cash provided by operating activities was $469.1 million in the second quarter. For the third quarter of 2026, Teradyne expects revenues in the range of $1.20-$1.30 billion. GAAP net income attributable to the company is projected to be in the range of $1.79-$2.09 per share.Non-GAAP earnings are expected to be between $1.85 and $2.15 per diluted share. Management said that the outlook reflects robust AI-related demand, while rising wafer fabrication equipment investment is expected to support continued growth in 2027 and beyond. Teradyne currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the broader Zacks Computer and Technology sector include Arista Networks ANET, ASE Technology ASX and Belden BDC. While ASE currently sports a Zacks Rank #1 (Strong Buy), ANET and BDC carry a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Arista Networks shares have gained 26.1% in the year-to-date period. Arista Networks is set to report second-quarter 2026 results on Aug. 4.Shares of ASE Technology have gained 41.3% in the year-to-date period. ASE Technology is set to report the second-quarter 2026 results on July 30.Shares of Belden have surged 76.3% in the year-to-date period. Belden is slated to report second-quarter 2026 results on July 30. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Teradyne, Inc. (TER) : Free Stock Analysis Report Belden Inc (BDC) : Free Stock Analysis Report ASE Technology Holding Co., Ltd. (ASX) : Free Stock Analysis Report Arista Networks, Inc. (ANET) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Amphenol APH is set to report its second-quarter 2026 results on July 29.The company expects second-quarter 2026 earnings between $1.14 per share and $1.16 per share, indicating growth between 43% and 45% year over year. The Zacks Consensus Estimate for second-quarter 2026 earnings has increased 2.6% to $1.19 per share over the past 30 days, suggesting 46.91% growth from the figure reported in the year-ago quarter.Amphenol expects second-quarter 2026 revenues between $8.1 billion and $8.2 billion, suggesting year-over-year growth in the 41-43% range. The Zacks Consensus Estimate for second-quarter revenues is pegged at $8.30 billion, indicating an increase of 46.92% from the figure reported in the year-ago quarter. Image Source: Zacks Investment Research Amphenol’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 14.08%. Amphenol Corporation price-eps-surprise | Amphenol Corporation Quote Let’s see how things have shaped up for the upcoming announcement. Amphenol’s second-quarter 2026 results are likely to have been driven by continued strength in the IT datacom business, supported by accelerating investments in AI infrastructure. The company projected a sequential increase in IT datacom sales in the low-teens percentage range as hyperscale and enterprise customers continued expanding AI data center deployments. IT datacom represented more than 40% of APH’s revenues in the first quarter of 2026, while sales jumped 99% year over year (81% organically) and 27% sequentially (16% organically).APH has noted exceptionally strong demand for its high-speed copper, power and fiber-optic interconnect solutions, while the CommScope acquisition significantly broadened its portfolio across these technologies, strengthening its competitive position in next-generation AI architectures. Record first-quarter bookings and a 1.24 book-to-bill ratio had also provided healthy demand visibility entering the second quarter.The to-be-reported quarter is also likely to have benefited from sustained momentum across Amphenol’s diversified end markets. The company expected high-single-digit sequential growth in both the industrial and defense businesses, supported by increasing defense spending, industrial automation, building connectivity and broad-based demand across geographies. Automotive revenues were projected to rise modestly sequentially as electronic content per vehicle continued increasing despite uneven vehicle production, while communications networks revenues were expected to remain stable with support from the CommScope integration. These diversified growth drivers reduce reliance on any single market and should have supported overall revenue growth.Amphenol’s disciplined operating model is likely to have remained another positive driver during the to-be-reported quarter. In the first quarter, adjusted operating margin reached 27.3%, expanding 380 basis points (bps) year over year, despite the temporary dilution from the CommScope acquisition, reflecting robust operating leverage on higher volumes. Management also expressed confidence that CommScope's performance would continue improving under Amphenol’s operating model. Healthy cash generation, strong order activity and continued integration of acquired businesses are likely to have supported margins and earnings growth in the second quarter of 2026.However, acquisition-related amortization, integration expenses and backlog adjustments are expected to have continued weighing on reported profitability. Operating margin in the first quarter of 2026 contracted 20 bps due to the dilutive impact of the CommScope acquisition. In addition, higher debt used to finance the CommScope acquisition has increased quarterly interest expense, which Amphenol expects to remain around $200 million through the remainder of 2026. This is expected to have hurt earnings in the to-be-reported quarter. Amphenol shares have appreciated 13% year to date (YTD), outperforming the Zacks Computer and Technology sector’s return of 9.7%. APH has outperformed TE Connectivity TEL and Belden BDC but lagged Corning GLW YTD. While Corning shares have returned 67.5%, TE Connectivity and Belden shares have dropped 10.8% and 11.8%, respectively, over the same time frame. Image Source: Zacks Investment Research APH stock is trading at a premium, as suggested by the Value Score of D. In terms of the forward 12-month price/earnings, APH is trading at 28.22X, higher than the broader sector’s 22.92X, TE Connectivity’s 18.76X and Belden’s 15.61X. However, Amphenol is trading below Corning’s multiple of 30.53. Image Source: Zacks Investment Research The rapid expansion of AI computing infrastructure remains Amphenol’s largest long-term growth catalyst. The company believes the AI revolution is creating a unique opportunity because next-generation AI systems require significantly greater high-speed, power and fiber interconnect content. Following the CommScope acquisition, Amphenol now offers one of the industry's broadest portfolios of high-speed copper, fiber-optic and power interconnect products, positioning it to capture increasing content across AI clusters and future computing architectures.Apart from AI, Amphenol continues to benefit from long-term structural growth across defense, aerospace, industrial automation, communications infrastructure and automotive electronics. Increasing defense modernization programs, rising electronic content in vehicles, aircraft production recovery, factory automation, electrification and building connectivity are major durable demand drivers. Amphenol’s acquisition strategy that expands the company’s technology portfolio, deepens customer relationships and creates cross-selling opportunities is a key catalyst. Amphenol appears well positioned heading into its second-quarter 2026 results, backed by strong AI-driven demand, healthy order trends and solid execution across its diversified end markets. While acquisition-related costs and higher interest expenses may continue to weigh on reported profitability in the near term, the company’s expanding AI interconnect portfolio, disciplined operating model and proven acquisition strategy provide a strong foundation for sustained growth. These factors justify the current premium valuation. APH currently sports a Zacks Rank #1 (Strong Buy) and a Growth Score of B, a favorable combination that offers a strong investment opportunity, per the Zacks Proprietary methodology. You can see the complete list of today’s Zacks #1 Rank stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amphenol Corporation (APH) : Free Stock Analysis Report Corning Incorporated (GLW) : Free Stock Analysis Report Belden Inc (BDC) : Free Stock Analysis Report TE Connectivity Ltd. (TEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research