Results
Belden Reports Record Third Quarter 2026 Results and Announces $100 Million Data Center Agreement for 2027
St. Louis, Missouri – October 29, 2026 - Belden Inc. (NYSE: BDC) (“Belden” or the “Company”), a global full-stack networking solutions company, today reported fiscal third quarter results for the period ended September 27, 2026.
Third Quarter 2026 Highlights
Record revenues of $966 million, up 38% y/y and up 11% y/y organically
8Record orders of $1,017 million, up 46% y/y and up 16% y/y organically, with a book-to-bill of 1.05x
GAAP EPS of ($0.29), including non-cash purchase accounting charges related to the Ruckus acquisition
Adjusted EPS of $2.26, up 15% y/y
1Reached agreement to supply $100 million of fiber solutions to major US data center customer in 2027
6"Belden delivered another record quarter, with revenue of $966 million, up 38% year over year and 11% organically, and Adjusted EPS of $2.26, up 15% year over year.
5We also surpassed $1 billion in quarterly orders for the first time, with orders up 46% year over year and 16% organically, and a book-to-bill of 1.05x," said Ashish Chand, President and CEO of Belden Inc. "Demand remains robust across our key markets as AI and automation drive continued investment in networking infrastructure, from the data center to the factory floor.
2Our data center business reached an important milestone, with a signed agreement to supply $100 million of fiber assemblies in 2027.
3With this announcement, we now expect our data center business to grow by more than 50% next year.
Our Ruckus integration is progressing, and we are encouraged by the growing cross-selling funnel and positive conversations we are having with customers.
Belden is increasingly positioned as a networking partner for physical AI and automation, and the momentum we are seeing gives us confidence in the opportunity ahead."
Third Quarter 2026
Revenues for the quarter increased by $268 million, or 38%, to $966 million from $698 million in the year-ago period.
4Revenues increased 11% organically from the year-ago period.
Net income was ($11) million, compared to $57 million in the year-ago period.
Net income as a percentage of revenues was (1.2)%, compared to 8.1% in the year-ago period.
7GAAP EPS totaled ($0.29) for the quarter, compared to $1.41 in the year-ago period, reflecting the addition of Ruckus and related purchase accounting estimates.
Adjusted EBITDA was $171 million, up $52 million, or 44%, compared to $119 million in the year-ago period.
Adjusted EBITDA margin was 17.7%, up 70 bps, compared to 17.0% in the year-ago period.
Adjusted EPS was $2.26, increasing 15% compared to $1.97 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.
GAAP results reflect purchase accounting for the Ruckus acquisition including non-cash charges of $100 million related to the amortization of acquired intangible assets and inventory fair value step-up.
These charges are excluded from Adjusted EPS and Adjusted EBITDA, which management uses, along with GAAP results, to evaluate the Company's operating performance.
Outlook
“Our fourth quarter outlook reflects strong underlying demand and the momentum we're building as one company with Ruckus," said Dr. Chand.
"Orders are at record levels entering the quarter, our solutions pipeline continues to build, and we're seeing growing engagement from data center and physical AI customers.
We remain disciplined given the near-term macroeconomic and supply chain environment, but the long-term fundamentals across our markets continue to strengthen.
Our focus remains on execution, integration, and capturing the opportunity in front of us."
Assuming the continuation of current market conditions, the table below provides guidance for the fourth quarter of 2026.
Fourth Quarter 2026:
Guidance
Revenues (million)$960 - $980
GAAP EPS$0.24 - $0.39
Adjusted EPS$2.20 - $2.35
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.
Organic order growth is calculated as the change in orders excluding the impacts from currency exchange rates, copper prices, acquisitions, and divestitures.
BELDEN INC.
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