Belden (BDC) Tops Q4 EPS by 13c, Offers Guidance, Announces CFO Transition

Belden (NYSE: BDC) reported Q4 EPS of $0.90, $0.13 better than the analyst estimate of $0.77. Revenue for the quarter came in at $498.5 million versus the consensus estimate of $483.89 million.

GUIDANCE:

Belden sees Q1 2021 EPS of $0.60-$0.70, versus the consensus of $0.61. Belden sees Q1 2021 revenue of $490-505 million, versus the consensus of $456.4 million.

Belden sees FY2021 EPS of $2.90-$3.30, versus the consensus of $3.20.

CFO Transition

The Company also announced today that its Senior Vice President, Finance, and Chief Financial Officer, Henk Derksen, will be leaving Belden in March to pursue other endeavors. Mr. Derksen has been with the Company since 2000, and during that time has helped lead the Company’s transition into the leading supplier of networking solutions that it is today. Mr. Derksen’s successor will be Jeremy Parks. Mr. Parks worked with the Company from 2008 through August 2020, most recently as the Vice President of Finance for the Company’s Industrial Solutions segment, after which he joined International Wire Group, Inc. as its Chief Financial Officer. Mr. Vestjens commented, “Henk’s contributions to our success over the last 20 years are immeasurable. He has tackled every task before him with talent and determination, and he has demonstrated flawless integrity in everything that he has done. We will miss him, and wish him well as he pursues his next challenge. We are excited to have Jeremy back in the Belden family as we embark on the next chapter in our evolution.” Mr. Derksen will continue to serve as CFO through the filing of the Company’s 2020 Form 10-K, at which time Mr. Parks will assume the role. Mr. Derksen will stay on with the Company through mid-March to aid the transition.

For earnings history and earnings-related data on Belden (BDC) click here.

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