Belden Inc. reported strong fiscal fourth quarter 2024 results, with revenues increasing 21% year-over-year to $666 million, including robust 14% organic growth in both its Automation Solutions and Smart Infrastructure Solutions segments. Adjusted diluted EPS reached $1.92, a 32% increase from the prior year, surpassing expectations and benefiting from a lower-than-expected tax rate. Orders showed modest sequential growth and a 9% increase for the full year.
For the full year 2024, revenues decreased 2% to $2,461 million, with a 6% organic decline, while adjusted diluted EPS was $6.36, down 7% from the prior year. Despite the full-year decline, the return to organic growth in Q4 indicates improving market conditions. The company generated a strong $223 million in free cash flow for the year, providing capital for strategic acquisitions and shareholder returns.
Looking ahead to the first quarter of 2025, Belden provided guidance anticipating revenues between $605 million and $620 million, representing a 13% to 16% increase year-over-year. Adjusted EPS is projected to be in the range of $1.43 to $1.53, an increase of 15% to 23%, though this guidance includes an estimated $0.05 EPS headwind from currency exchange rates.
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