Belden sinks on lower Q3 results forecast

Belden

13/10/2023 18:52

** Global networking solutions provider Belden's shares
 BDC.N  fall 26.23% to $70.28, hitting lowest since Oct 2022
    ** Co on Thursday reduced Q3 revenue forecast to about $625
mln from prior outlook of $675 mln to $690 mln  urn:newsml:reuters.com:*:nBw26KyB9a
    ** Also lowered adj EPS forecast to between $1.75 and $1.77 
vs prior outlook of $1.75 to $1.85
    ** BDC believes softer demand will continue as it moves into
Q4, impacting both revenue and profitability - CEO Ashish Chand
    ** Shares down 1.78% YTD

 (Reporting by Vedant Vinayak Vichare in Bengaluru)
 ((vedant.vinayakvichare@thomsonreuters.com))