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Belden Inc (BDC-1.89%). has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The report details the company's financial performance, including total revenues of $2,460,979,000, a slight decrease from the previous year. The decrease in revenues is attributed to lower sales volume and unfavorable currency translation, partially offset by contributions from acquisitions.
Belden's operating income for the year was $266,460,000, down from $317,518,000 in 2023. The decline is primarily due to decreased gross profit and increased amortization expense.
Net income attributable to Belden common stockholders was $198,433,000, with a diluted income per share of $4.80, compared to $5.66 in the previous year.
The company reported a total of $1,130,101,000 in long-term debt, with no borrowings outstanding on its revolving credit agreement as of December 31, 2024.
Belden's Smart Infrastructure Solutions segment reported revenues of $1,143,790,000, while the Automation Solutions segment reported $1,317,189,000 in revenues.
During the year, Belden completed the acquisition of Precision Optical Technologies and Voleatech GmbH, expanding its product portfolio in fiber infrastructure and firewall products.
The company continues to focus on its strategic priorities, including revenue growth, margin improvement, and disciplined capital allocation.
Belden's board of directors increased the authorizations under its share repurchase program by $300 million, with $340 million remaining authorized for future repurchases as of year-end.
The report also discusses various risks and uncertainties facing the company, including foreign currency fluctuations, competition, and supply chain challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Belden Inc annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.