Belden Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Belden Inc. has filed its Q1 2024 10-Q report, detailing financial performance and business operations.</b>

AI Summary

BELDEN INC. (BDC) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Belden Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is Drawing and Insulating Nonferrous Wire. Belden Inc. is incorporated in Delaware. The company's headquarters are located at 1 North Brentwood Blvd, St. Louis, MO.

Why It Matters

For investors and stakeholders tracking BELDEN INC., this filing contains several important signals. This filing provides investors with the latest financial data for Belden Inc., crucial for assessing its current performance and future prospects. Understanding the details within this 10-Q is essential for stakeholders to make informed investment decisions regarding BDC.

Risk Assessment

Risk Level: medium — BELDEN INC. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate any immediate, significant positive or negative events.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand Belden Inc.'s performance drivers and any emerging trends.

Key Numbers

• 2024-03-31 — Report Date (CONFORMED PERIOD OF REPORT)
• 2024-05-02 — Filing Date (FILED AS OF DATE)
• 3357 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• BELDEN INC. (company) — COMPANY CONFORMED NAME
• DE (company) — STATE OF INCORPORATION
• ST. LOUIS (company) — CITY
• 314-854-8000 (dollar_amount) — BUSINESS PHONE
• BELDEN CDT INC. (company) — FORMER COMPANY
• CABLE DESIGN TECHNOLOGIES CORP (company) — FORMER COMPANY

FAQ

Industry Context

Belden Inc. operates within the manufacturing sector, specifically in the Drawing and Insulating Nonferrous Wire industry.

Regulatory Implications

The filing is a standard 10-Q, a quarterly report required by the SEC for publicly traded companies under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine any disclosed risk factors or management discussion and analysis.
3. Compare key metrics to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $0.01 — ange on which registered Common stock, $0.01 par value BDC New York Stock Exchange

Filing Documents

• bdc-20240331.htm (10-Q) — 950KB
• ex311q12024.htm (EX-31.1) — 10KB
• ex312q12024.htm (EX-31.2) — 10KB
• ex321q12024.htm (EX-32.1) — 4KB
• ex322q12024.htm (EX-32.2) — 4KB
• 0000913142-24-000018.txt (&nbsp;) — 5993KB
• bdc-20240331.xsd (EX-101.SCH) — 39KB
• bdc-20240331_cal.xml (EX-101.CAL) — 63KB
• bdc-20240331_def.xml (EX-101.DEF) — 147KB
• bdc-20240331_lab.xml (EX-101.LAB) — 510KB
• bdc-20240331_pre.xml (EX-101.PRE) — 356KB
• bdc-20240331_htm.xml (XML) — 927KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements BELDEN INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 (Unaudited) (In thousands) ASSETS Current assets: Cash and cash equivalents $ 506,830 $ 597,044 Receivables, net 356,401 413,806 Inventories, net 374,419 366,987 Other current assets 76,739 79,142 Total current assets 1,314,389 1,456,979 Property, plant and equipment, less accumulated depreciation 453,988 451,069 Operating lease right-of-use assets 124,690 89,686 Goodwill 901,924 907,331 Intangible assets, less accumulated amortization 256,905 269,144 Deferred income taxes 16,575 15,739 Other long-lived assets 50,842 50,243 $ 3,119,313 $ 3,240,191 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 263,627 $ 343,215 Accrued liabilities 250,903 290,289 Total current liabilities 514,530 633,504 Long-term debt 1,180,125 1,204,211 Postretirement benefits 71,839 74,573 Deferred income taxes 50,634 49,472 Long-term operating lease liabilities 108,174 74,941 Other long-term liabilities 38,125 37,188 Stockholders' equity: Common stock 503 503 Additional paid-in capital 814,704 818,663 Retained earnings 1,021,061 985,807 Accumulated other comprehensive loss ( 32,131 ) ( 41,279 ) Treasury stock ( 648,292 ) ( 597,437 ) Total Belden stockholders' equity 1,155,845 1,166,257 Noncontrolling interests 41 45 Total stockholders' equity 1,155,886 1,166,302 $ 3,119,313 $ 3,240,191 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. -1- BELDEN INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended March 31, 2024 April 2, 2023 (In thousands, except per share data) Revenues $ 535,675 $ 641,789 Cost of sales ( 334,079 ) ( 395,684 ) Gross profit 201,596 246,105 Selling, general and administrative expenses ( 110,768 ) ( 121,574 ) Research and development expenses ( 26,999 ) ( 29,384 ) Amortization

View Full Filing

View this 10-Q filing on SEC EDGAR