Belden Inc rises to 4-year high after lifting annual forecasts

Belden

02/11/2022 15:27

** Shares of signal transmission solutions provider Belden
Inc  BDC.N  rise as much as 4.7% to over four-year high of 
$73.64 
    ** BDC lifts its full-year revenue, profit forecast   
    ** Co expects 2022 revenue to be between $2.58 bln and $2.60
bln vs previous forecast of $2.52 bln to $2.55 bln
    ** BDC sees 2022 adjusted profit to be between $6.27 and
$6.37 per share vs prior outlook of $5.90-$6.10
    ** However, co says compared to Q3, it expects Q4 2022
revenue to be lower "due to a stronger dollar and typical
seasonal patterns"
    ** BDC beat analysts' expectations on Q3 revenue and profit
    ** Stock up ~12% so far this year
 (Reporting by Granth Vanaik)
 ((Granth.Vanaik@thomsonreuters.com;))