Belden Expands on Solutions Transformation Strategy and Provides Long-Term Financial Framework Through 2028 - Seite 2

"Execution of the Solutions transformation over the last several years, combined with the company's operating discipline, are delivering through-cycle revenue growth, margin improvement and healthy free cash flow," said Jeremy Parks, Chief Financial Officer. "We are focused on advancing our Solutions transformation, and with our robust cash flow, we will continue to be able to invest in the business while returning cash to shareholders through repurchases."

Segments Renamed

As Belden continues to advance forward with solutions focused on data infrastructure, today Belden announced a change to the names of its two reportable segments. The former Industrial Automation Solutions segment will be renamed Automation Solutions and the former Enterprise Solutions segment will be renamed Smart Infrastructure Solutions. The composition of the segments did not change as a result of these name changes.

Webcast

The Company has scheduled a webcast of the 2024 Investor Day for Thursday, September 12, 2024 at 10:00 a.m. Eastern Time. A link to the live webcast can be found on the Company’s Investor Relations website at https://investor.belden.com. A replay of the event and related presentations will remain accessible in the investor relations section of the Company’s website for a limited time.

Non-GAAP Measures

Our financial targets include non-GAAP measures such as Adjusted EPS, Adjusted EBITDA margins, free cash flow margin and net leverage. All references to Adjusted EPS within this earnings release refer to adjusted net income per diluted share attributable to Belden stockholders. We define free cash flow as net cash from operating activities adjusted for capital expenditures net of the proceeds from the disposal of assets. Free cash flow margin is calculated as free cash flow divided by revenues during the comparable period. Net leverage is calculated as (A) total debt less cash and cash equivalents divided by (B) the sum of trailing twelve months Adjusted EBITDA plus trailing twelve months stock-based compensation expense.

Our financial targets are based upon information currently available regarding events and conditions that will impact our future operating results. In particular, our results are subject to the factors listed under "Forward-Looking Statements" in this release. In addition, our actual results are likely to be impacted by other additional events for which information is not available, such as asset impairments, adjustments related to acquisitions and divestitures, severance, restructuring, and acquisition integration costs, gains (losses) recognized on the disposal of assets, gains (losses) on debt extinguishment, discontinued operations, and other gains (losses) related to events or conditions that are not yet known. Therefore we are unable to provide quantitative reconciliations of forward-looking non-GAAP financial measures, such as our financial targets, to the most directly comparable GAAP financial measures, because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations, and providing them may imply a degree of precision that would be confusing or potentially misleading.