Belden Boosts FY21 Outlook; Guides Q2 Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, Belden Inc. (BDC) raised its earnings and revenue guidance for the full year 2021, based on better than expected performance in the first quarter and an improved outlook for the remainder of the year. The company also provided outlook for the second quarter.

For fiscal 2021, the company now projects earnings in a range of $1.97 to $2.27 per share and adjusted earnings in the range of $3.50 to $3.80 per share on revenues between $2.13 billion and $2.18 billion.

Previously, the company expected earnings in the range of $1.70 to $2.10 per share and adjusted earnings in the range of $2.90 to $3.30 per share on revenues between $1.99 billion and $2.05 billion.

On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $3.15 per share on revenues of $2.03 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company expects earnings in a range of $0.38 to $0.48 per share and adjusted earnings in a range of $0.88 to $0.98 per share on revenues between $535 million and $550 million.

The Street expects the company to report earnings of $0.75 per share on revenues of $502.95 million for the quarter.