Jun 2026 (Q2 FY26) — Jul 30, 2026
Belden Q2 FY26 — Record Revenue and EPS Driven by Strong Orders and AI Infrastructure Wins
Read the full callBelden (BDC) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Belden earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 750 | +11.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.2 | +1.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 68.5 | +12.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
13 of 17 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EPS guidance | Not disclosed in corpus (range given during the missing Q1 FY26 call) | Mar 2026 | Adjusted EPS of $2.34 grew 24% compared to $1.89 in the prior year period, above the high end of our guidance. | Achieved |
| Adjusted EPS | $2.15 to $2.30 | Jun 2026 | Adjusted EPS is expected to be between $2.15 and $2.30 | New |
4 of BELDEN INC.'s 36 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 34 more targets are in the full ledger.
Claimed
- Achieved record revenue of $750 million, up 12% year-over-year, exceeding guidance.
- Delivered record Adjusted EPS of $2.34, up 24% year-over-year, above the high end of guidance.
- Booked record orders of $836 million, a 19% year-over-year increase, resulting in a strong 1.11x book-to-bill ratio.
- Secured a $20 million contract with a Tier-1 hyperscaler for AI data center fiber connectivity, now in production.
- Successfully closed the RUCKUS Networks acquisition, immediately accretive to revenue growth, EPS, and EBITDA, and accelerating solutions mix past 20%.
Qualified
- Net leverage is expected to increase to approximately 3.9x net debt to adjusted EBITDA by the end of Q3 FY26 following the RUCKUS acquisition.
Price
$102.83 −1.33% · −$1.39
Performance −9.8% 1Y
1Y: $114.05 on 15 Oct 2025 → $102.83. High $150.91 (12 Feb 2026), low $99.52 (20 Jul 2026).
- Previous close
- $104.22
- 52-week range
- $99.52 – $150.91
- One year
- −8.38%
Overview
- Symbol
- BDC
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 17 judged targets kept · 19 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 adjusted EPS guidance | Not disclosed in corpus (range given during the missing Q1 FY26 call) | Mar 2026 | Adjusted EPS of $2.34 grew 24% compared to $1.89 in the prior year period, above the high end of our guidance. | Achieved |
| Adjusted EPS | $2.15 to $2.30 | Jun 2026 | Adjusted EPS is expected to be between $2.15 and $2.30 | New |
Claimed
- Achieved record revenue of $750 million, up 12% year-over-year, exceeding guidance.
- Delivered record Adjusted EPS of $2.34, up 24% year-over-year, above the high end of guidance.
- Booked record orders of $836 million, a 19% year-over-year increase, resulting in a strong 1.11x book-to-bill ratio.
- Secured a $20 million contract with a Tier-1 hyperscaler for AI data center fiber connectivity, now in production.
- Successfully closed the RUCKUS Networks acquisition, immediately accretive to revenue growth, EPS, and EBITDA, and accelerating solutions mix past 20%.
Qualified
- Net leverage is expected to increase to approximately 3.9x net debt to adjusted EBITDA by the end of Q3 FY26 following the RUCKUS acquisition.
The full ledger
Open BELDEN INC.’s full ledger
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Call summaries
Every analysed call
Belden earnings calls (BDC)
Financials
What the filings say
Net profit, year on year: +12% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 655 | 666 | 625 | 672 | 698 | 720 | 696 | 750 |
| Operating profit | 75 | 69 | 73 | 79 | 76 | 88 | 78 | 99 |
| Operating margin | 11.5% | 10.4% | 11.6% | 11.8% | 10.9% | 12.2% | 11.2% | 13.2% |
| Profit before tax | 65 | 57 | 62 | 67 | 64 | 74 | 63 | 85 |
| Tax rate | 17.1% | −1.8% | 16.3% | 8.5% | 11.8% | 8.1% | 18.7% | 19.6% |
| Net profit | 54 | 58 | 52 | 61 | 57 | 68 | 51 | 69 |
| EPS ($ per share) | 1.32 | — | 1.29 | 1.54 | 1.43 | — | 1.31 | 1.76 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 922 | 518 | 451 | 506 | 752 | 986 | 1,176 | 1,406 |
| Total liabilities | 2,392 | 2,441 | 2,383 | 2,462 | 2,018 | 2,074 | 2,033 | 2,279 |
| Fixed assets | 311 | 346 | 369 | 344 | 382 | 451 | 496 | 566 |
| Total assets | 3,779 | 3,407 | 3,140 | 3,418 | 3,162 | 3,240 | 3,328 | 3,544 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 289 | 277 | 173 | 272 | 281 | 320 | 352 | 355 |
| Cash from investing | -141 | -184 | -32 | -92 | 168 | -200 | -427 | -128 |
| Cash from financing | -282 | -87 | -75 | -33 | -393 | -212 | -144 | -218 |
| Net cash flow | -140 | 5 | 76 | 142 | 44 | -91 | -227 | 20 |
| Capital expenditure | -98 | -110 | -90 | -91 | -105 | -117 | -129 | -136 |
| Free cash flow | 191 | 167 | 83 | 181 | 176 | 203 | 223 | 219 |
BDC revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Automation Solutions | — | 51% | — | — | — | — | 56% | 58% | — |
| Broadb and Solutions | — | — | — | — | — | — | 22% | 21% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- Americas 65% ↓ 2 pt
- EMEA 21%
- Asia Pacific 14% ↑ 2 pt
As BDC cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
95 filings between Nov 19, 2025 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.93M
11 sales by 5 insiders
91% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 33
- Award — granted as compensation
- 7
- Option exercise — converted options into shares
- 21
- Tax withheld — shares kept back by the company to cover tax
Also filed: 13 other filings, 7 dispositions to the issuer, 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Lieser Brian | — | $920.6K | Sep 15, 2026 |
| Zink Doug | — | $755.6K | Feb 6, 2026 |
| Tate Leah | — | $690.5K | Feb 4, 2026 |
| KLEIN JONATHAN C | — | $372.6K | Dec 11, 2025 |
| Bhadra Hiran | — | $192.0K | Dec 5, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Lieser Brian EVP - Chief Comm. Officer | Sale 10b5-1 plan | 1,900 | $217.3K |
| Aug 12, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Gift | 1,310 | $0 |
| Aug 7, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Gift | 385 | $0 |
| Aug 3, 2026 | BALK LANCE C Director | Gift | 10,000 | $0 |
| Jul 6, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Other | 213 | $21.2K |
| Jul 6, 2026 | Chand Ashish President and CEO | Other | 213 | $21.2K |
| Jul 6, 2026 | Lieser Brian EVP - Chief Comm. Officer | Other | 85 | $8.5K |
| Jul 6, 2026 | Zink Doug VP and CAO | Other | 213 | $21.2K |
| Jul 6, 2026 | Tate Leah EVP - Chief Peop/Strat Officer | Other | 213 | $21.2K |
| Jul 6, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Other | 213 | $21.2K |
| Jul 2, 2026 | Giordano Bartolomeo SVP RUCKUS & Integration Mgr | Award | 13,091 | $0 |
| May 21, 2026 | Brown Judy L Director | Award | 1,527 | $0 |
| May 21, 2026 | McCray Gregory James Director | Award | 1,527 | $0 |
| May 21, 2026 | BALK LANCE C Director | Award | 1,527 | $0 |
| May 21, 2026 | AL-SALEH ADEL Director | Award | 1,527 | $0 |
| May 21, 2026 | Calderon Nancy E. Director | Award | 1,527 | $0 |
| May 21, 2026 | ALDRICH DAVID J Director | Award | 2,123 | $0 |
| May 21, 2026 | Lee Vivie Director | Award | 1,527 | $0 |
| May 21, 2026 | Brink Diane D Director | Award | 1,527 | $0 |
| May 21, 2026 | KLEIN JONATHAN C Director | Award | 1,527 | $0 |
| Apr 14, 2026 | Lieser Brian EVP - Chief Comm. Officer | Sale 10b5-1 plan | 2,719 | $355.3K |
| Mar 11, 2026 | Parks Jeremy E EVP - CFO | Award | 3,480 | $0 |
| Mar 11, 2026 | Lieser Brian EVP - Chief Comm. Officer | Tax withheld | 1,033 | $0 |
| Mar 11, 2026 | Lieser Brian EVP - Chief Comm. Officer | Award | 2,160 | $0 |
| Mar 11, 2026 | Chand Ashish President and CEO | Tax withheld | 6,053 | $0 |
| Mar 11, 2026 | Chand Ashish President and CEO | Award | 10,898 | $0 |
| Mar 11, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Award | 2,526 | $0 |
| Mar 11, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Tax withheld | 777 | $0 |
| Mar 11, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Tax withheld | 1,207 | $0 |
| Mar 11, 2026 | Parks Jeremy E EVP - CFO | Tax withheld | 2,080 | $0 |
| Mar 11, 2026 | Tate Leah EVP - Chief Peop/Strat Officer | Tax withheld | 1,011 | $0 |
| Mar 11, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Award | 3,234 | $0 |
| Mar 11, 2026 | Zink Doug VP and CAO | Tax withheld | 120 | $0 |
| Mar 11, 2026 | Zink Doug VP and CAO | Award | 612 | $0 |
| Mar 11, 2026 | Tate Leah EVP - Chief Peop/Strat Officer | Award | 2,779 | $0 |
| Mar 2, 2026 | Zink Doug VP and CAO | Award | 778 | $0 |
| Mar 2, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Tax withheld | 415 | $0 |
| Mar 2, 2026 | Tate Leah EVP - Chief Peop/Strat Officer | Award | 2,440 | $0 |
| Mar 2, 2026 | Tate Leah EVP - Chief Peop/Strat Officer | Tax withheld | 335 | $0 |
| Mar 2, 2026 | Parks Jeremy E EVP - CFO | Award | 3,337 | $0 |
| Mar 2, 2026 | Parks Jeremy E EVP - CFO | Tax withheld | 784 | $0 |
| Mar 2, 2026 | Lieser Brian EVP - Chief Comm. Officer | Award | 2,848 | $0 |
| Mar 2, 2026 | Lieser Brian EVP - Chief Comm. Officer | Tax withheld | 449 | $0 |
| Mar 2, 2026 | Chand Ashish President and CEO | Award | 14,369 | $0 |
| Mar 2, 2026 | Chand Ashish President and CEO | Tax withheld | 3,034 | $0 |
| Mar 2, 2026 | Zink Doug VP and CAO | Tax withheld | 45 | $0 |
| Mar 2, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Award | 2,674 | $0 |
| Mar 2, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Tax withheld | 352 | $0 |
| Mar 2, 2026 | Anderson Brian Edward EVP - Chief Legal Officer | Award | 2,841 | $0 |
| Feb 25, 2026 | Bhadra Hiran EVP - Chief Innovation Officer | Award | 3,718 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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