What factors drove the changes in Belden's revenue and profit?

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What is the revenue and EPS growth rate for Belden year over year?

What is the market's earnings forecast for Belden next quarter?

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What is Belden's latest dividend and current dividend yield?

What were the key takeaways from Belden’s earnings call?

- **Record Q2 Performance**: $750M revenue (+12% YoY), $836M orders (+19% YoY), and $2.34 EPS (+24% YoY) highlight strong execution across industrial automation and data centers.
- **RUCKUS Synergy**: Immediate accretion of $0.12 EPS and 20% solutions mix, with cross-selling opportunities driving high single-digit growth in Wi-Fi 7 and physical AI.
- **Strategic Wins**: $20M hyperscale contract and $20M autonomous systems win demonstrate Belden's leadership in AI-driven networking and data center infrastructure.
- **Financial Strength**: 19.5% EBITDA margin, $212M free cash flow, and a clear path to 1.5x leverage by 2029 underpin long-term growth.

**【CEO Summary Section】**
- **Record Revenue and Growth**: Q2 2026 revenue reached $750 million, up 12% YoY, with adjusted EPS of $2.34, up 24% YoY. Orders hit $836 million, a 19% YoY increase, driven by strong demand in industrial automation and data centers.
- **RUCKUS Acquisition Integration**: RUCKUS Networks joined Belden on July 1, 2026, immediately contributing to revenue growth and solutions mix. The combined company now offers a full-stack networking solution, with RUCKUS' Wi-Fi 7 platform enhancing Belden's industrial connectivity portfolio.
- **Data Center and AI Wins**: Secured a $20 million hyperscale data center contract for high-density fiber connectivity and a $20 million specification win with a global retailer for AI-driven autonomous systems. These wins highlight Belden's ability to deliver end-to-end solutions for physical AI and hyperscale infrastructure.
- **Solutions Mix Expansion**: Solutions mix reached 20% of revenue, exceeding the 2028 target three years ahead of schedule, driven by cross-selling opportunities with RUCKUS.

**【CFO Financial Commentary】**
- **Financial Performance**: Adjusted gross profit was $297 million (39.6% margin), up 14% YoY. Adjusted EBITDA was $146 million (19.5% margin), up 28% YoY. The company recognized a $0.25 per share tariff benefit, partially offset by new tariffs.
- **Third Quarter Guidance**: Revenue expected between $950 million and $970 million, with adjusted EPS of $2.15-$2.30. RUCKUS is expected to contribute $0.12 to EPS, net of integration costs.
- **Leverage and Cash Flow**: Post-RUCKUS, net leverage is 3.9x, with a clear path to 1.5x by 2029 through $500 million+ free cash flow generation. RUCKUS' capital-light model accelerates de-leveraging.

**【Q&A Highlights】**
- **Hyperscale Win Details**: The $20 million hyperscale contract reflects Belden's operational reliability and standardized product architecture. This win opens opportunities for white and gray space solutions with the same hyperscaler.
- **RUCKUS Integration Progress**: Cross-selling efforts are underway, with early customer engagement in venues, warehouses, and discrete manufacturing. RUCKUS' Wi-Fi 7 platform is being integrated into Belden's AI-driven network management software.
- **Market Positioning**: Belden is uniquely positioned to serve the convergence of IT/OT networks, with no direct competitors offering a full-stack solution from passive infrastructure to AI-driven cloud software.
- **Tariff Impact**: The $0.25 per share tariff benefit is one-time, with ongoing copper passthroughs and incremental margins above 30% supporting long-term profitability.

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Belden (BDC) Financials Overview

BDC Q2 2026 Earnings

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