Belden Posts Record $966 Million Revenue and More Than $1 Billion in Orders in Third Quarter
Key Facts
Belden reported record revenue of $966 million in the fiscal third quarter ended September 27, 2026, up 38% year over year and 11% organically, according to the company’s results statement. Orders reached a record $1.017 billion, up 46% year over year and 16% organically, while the book-to-ship ratio was 1.05 times. The figures showed activity broadening during the quarter, with orders growing faster than revenue. The company said demand remained strong in its key markets, noting that artificial intelligence and automation are driving continued investment in network infrastructure. The announcement followed revenue of $750 million in the second quarter, up 12% year over year and 8% organically.
On profitability, Belden posted an accounting loss of $0.29 per diluted share, while adjusted earnings per share were $2.26, up 15% from the year-earlier period. The company said its GAAP result included $100 million in non-cash costs related to the Ruckus acquisition, including amortization of acquired intangible assets and the fair-value step-up of inventory. The acquisition of Ruckus Networks was completed on July 1, 2026, after the end of the second quarter. Adjusted EBITDA was $171 million, an increase of $52 million, or 44%, year over year. Its margin also rose to 17.7% from 17.0% a year earlier, an increase of 70 basis points, highlighting the difference between adjusted profitability and the reported accounting result.
Revenue increased by $268 million from the same quarter a year earlier, rising to $966 million from $698 million, according to company data for the two periods. Revenue in the second quarter of 2026 was $750 million, making the third-quarter figure higher than the prior quarter’s result as well. In comparison with market expectations, adjusted earnings per share of $2.26 matched analysts’ estimate, while revenue of $966 million exceeded the average forecast of $961.91 million, according to a Reuters report published via Investing.com. Available daily closing data show the stock at $106.66 on October 28, compared with $107.48 on October 27. These prices do not establish a decline in the October 29 session, contrary to the previous draft.
In its data center business, Belden said it signed an agreement to supply $100 million worth of fiber-optic assemblies to a large U.S. customer during 2027, without naming the customer. It added that the agreement marks an important milestone for the data center business and that it expects the business to grow by more than 50% next year. The company linked broader demand for networking solutions to investment in artificial intelligence and automation, and said demand was strong across its key markets. Management expects to enter the fourth quarter with orders at record levels, as its project pipeline continues to build and engagement with data center and physical AI customers increases. It said: "Orders are at record levels entering the quarter, our solutions pipeline continues to expand, and we are seeing increased engagement from data center and physical AI customers."
For the fourth quarter of 2026, Belden set a revenue range of $960 million to $980 million and adjusted earnings per share of $2.20 to $2.35. It also forecast GAAP earnings per share of $0.24 to $0.39. The guidance puts the next quarter’s revenue range close to the third-quarter record, while both the high and low ends of the adjusted earnings forecast are below the third-quarter result of $2.26, although the range includes it. The guidance relates to performance in the final quarter of the year, after the company recorded growth in revenue and orders in the quarter ended in September. In the cited guidance, the company gave no outlook beyond its expectation that the data center business will grow by more than 50% during 2027.