logo
Plus   Neg
Share
Email

Belden Slashes FY19 Outlook - Quick Facts

While reporting financial results for the second quarter, Belden Inc. (BDC) on Wednesday slashed its adjusted earnings guidance for the full year 2019 as it expects a more challenging demand environment in its Industrial markets in the second half. The company also initiated guidance for the third quarter.

For fiscal 2019, the company slashed adjusted earnings guidance to a range of $5.38 to $5.78 per share from the prior guidance range of $5.65 to $6.15 per share.

Revenues for the full year are also now expected between $2.485 billion and $2.535 billion, down from the prior guidance range of $2.520 billion to $2.595 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.86 per share on revenues of $2.54 billion for the year. Analysts' estimates typically exclude special items.

The company also projects third-quarter adjusted earnings in a range of $1.32 to $1.52 per share and revenues between $620 million and $645 million. Street is looking for earnings of $1.57 per share on revenues of $647.93 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
RELATED NEWS
Follow RTT