The strong Q2 beat and record backlog, combined with the RUCKUS acquisition now closed, position Belden for accelerated growth in AI data center and physical AI networking. Monitor Q3 execution and RUCKUS margin contribution for sustained upside.
Price Chart
Executive Summary
Belden reported record Q2 2026 revenue of $750M (+12% YoY) and adjusted EPS of $2.34, a 15.8% beat vs consensus of $2.02, driven by broad-based demand and early AI data center orders. The company completed its $1.85B acquisition of RUCKUS Networks on July 1 and guided Q3 2026 revenue to $950-970M and adjusted EPS to $2.15-2.30, marking a significant step-up from its standalone run rate.
Key Financial Metrics
Key Facts
- Record Q2 revenue of $750M, up 12% YoY and 8% organically
- GAAP EPS $1.74 (+14% YoY); adjusted EPS $2.34 (+24% YoY, beat consensus of $2.02 by +15.8%)
- Record orders of $836M, up 19% YoY with book-to-bill of 1.11
- RUCKUS Networks acquisition closed on July 1, 2026
- Q3 guidance includes RUCKUS: revenue $950-970M, GAAP EPS $0.69-0.84, adjusted EPS $2.15-2.30
- Free cash flow of $88.6M in Q2 vs $56.9M a year ago
Financial Impact
Q2 adjusted EPS beat consensus by $0.32 (+15.8%); Q3 revenue guidance midpoint ($960M) is 28% above Q2 standalone revenue
Risk Factors
- Integration and leverage risks from the $1.85B RUCKUS acquisition
- Macroeconomic and tariff uncertainty (IEEPA tariff recovery mentioned as a $0.25 net EPS benefit in Q2)
- Potential dilution from amortization of RUCKUS intangibles (GAAP EPS guidance $0.69-0.84 vs adjusted $2.15-2.30)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000913142-26-000031 |
| Document: bdc-20260730.htm | 0000913142-26-000031 |
| Document: 0000913142-26-000031-index-headers.html | 0000913142-26-000031 |
| Document: 0000913142-26-000031-index.html | 0000913142-26-000031 |
| Document: 0000913142-26-000031.txt | 0000913142-26-000031 |
| 8-K Data (Synthetic) | 0000913142-26-000031 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 11, 2026 10w ago | Institutional Cluster | $138.03 $128.43 | ▼ −6.96% | ▼ −6.51% | $102.99 (−25.39%) |
Jul 30, 2026 12w ago | 8-K | $117.11 $129.19 | ▲ +10.32% | ▲ +6.69% | $102.99 (−12.06%) |
Jul 1, 2026 16w ago | 8-K | $116.86 $107.41 | ▼ −8.09% | ▼ −8.35% | $102.99 (−11.87%) |
Jun 14, 2026 19w ago | Institutional Cluster | $114.77 $121.65 | ▲ +5.99% | ▲ +7.38% | $102.99 (−10.26%) |
Apr 30, 2026 25w ago | 8-K | $112.48 $114.65 | ▲ +1.93% | ▲ +0.20% | $102.99 (−8.44%) |
Apr 22, 2026 26w ago | Court Ruling | $132.22 $112.38 | ▲ +15.01% | ▲ +16.45% | $102.99 (+22.11%) |
US Market Status
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