Q2 2026 Belden Inc Earnings Call Transcript
Key Points
- Belden Inc (BDC) achieved record quarterly revenue of $750 million, up 12% year-over-year, and record orders of $836 million, up 19% year-over-year.
- The company secured a $20 million contract with a Tier 1 hyperscaler for fiber connectivity in an AI data center, expanding its presence into the 'white space'.
- Belden Inc (BDC) won a significant specification deal with a leading global retailer to network autonomous elements across US distribution centers, showcasing its physical AI strategy.
- The acquisition of Ruckus Networks closed on July 1, 2026, which is immediately accretive to revenue, EPS, and EBITDA, and pushes the solutions mix past 20%.
- The company reported strong broad-based demand with double-digit organic growth in its key growth verticals of data centers and healthcare, and a book-to-bill ratio of 1.11.
- The second quarter results included a net tariff benefit of approximately $0.25 per share, which may not be recurring and masks underlying operational performance.
- Adjusted EBITDA margins are expected to be temporarily impacted in the third quarter due to integration inefficiencies from the Ruckus acquisition.
- Net leverage is expected to increase to approximately 3.9x following the Ruckus close, a significant jump from 1.7x at the end of the second quarter.
- The company faces an unfavorable mix impact sequentially as growth in the third quarter is expected to come from the lower-margin Smart Buildings and Broadband segments.
- The broadband segment's organic growth was flat year-over-year, and the company is dependent on a second-half recovery driven by DOCSIS upgrades and new fiber products.
Please stand by. Your conference is about to begin.
Ladies and gentlemen, thank you for standing by. Welcome to this morning's Belden Reports second quarter 2026 results.
Just a reminder, this call is being recorded. At this time, you are in a listen-only mode.
Later, we will conduct a question-and-answer session. If you'd like to ask a question, please press star one on your touch tone phone.
If you're in the question queue and would like to withdraw your question, simply press star two.
I'd now like to turn the call over to Erin Reddington. Please go ahead, sir.
Good morning, everyone, and thank you for joining us for Belden's second quarter 2026 earnings conference call. With me today are Belden's President and CEO, Ashish Chand and Executive Vice President and CFO, Jeremy Parks.
Ashish will provide a strategic overview of the quarter, and then Jeremy will cover our financial results and third quarter outlook, followed by Q&A.
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