Belden Slashes FY19 Outlook - Quick Facts

(RTTNews) - 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.