Belden raises FY23 EPS view to $7.15 -$7.35 from $6.95 – $7.25 , consensus $7.16

Raises FY23 revenue view to $2.7B – $2.73B, consensus $2.74B.. “The first half of 2023 was robust for Belden with the business outperforming expectations and delivering record results. With such record performance, I am happy to share that we are increasing our full-year EPS guidance,” said Dr. Chand. “We continue to benefit from long-term secular trends that have lengthy investment cycles. Investments in automation, reshoring, increased connectivity, increasing bandwidth usage, and network upgrades all bode well for Belden to produce sustainable earnings growth. We are confident in our markets and ability to execute our strategy and generate sustainable, long-term shareholder value. Belden’s business is transforming and continues to make excellent progress towards achieving our goal of at least $8.00 of Adjusted EPS by 2025.” End demand for our products and solutions remains healthy. As expected, channel partners are taking down inventory in 2023 as the supply chain continues to normalize. However, the temporary impact on orders is slightly higher than previously anticipated. Consequently, we expect a modest impact on full-year revenue and have adjusted our guidance accordingly. Due to successful execution and expanding margins across our business, we are increasing our full-year EPS guidance. Adjusted EPS guidance for 2023 now reflects year-over-year growth between 12% and 15%.