Slide 1: 4th Quarter 2024 Earnings Results
4TH QUARTER 2024 EARNINGS RESULTS February 2025
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the first quarter of 2025 and beyond. Forward-looking statements include projections of sales, earnin
Slide 3: 4th Quarter & Full Year 2024 Earnings Results
4TH QUARTER & FULL YEAR 2024 EARNINGS RESULTS
Slide 4: Exceeded Expectations with a Return to Organic Growth
Exceeded Expectations with a Return to Organic Growth Q4 & FY 2024 Key Messages $1.92 (+32% YoY) Q4 2024 Q4 Revenue and EPS above the high end of the guidance range Adjusted EPS(1) • Revenue of $666M (exceeded the high end of guidance) • Adjusted EPS(1) of $1.92 (exceeded the high end of guidance) •
Slide 5: Executing Clearly Defined Strategy
Executing Clearly Defined Strategy 1 2 3 4 Growing portfolio Delivering Advancing Enhancing of best-in-class long term growth our Solutions growth with networking & in earnings and capabilities selective M&A data products FCF generation Clearly Defined Strategy
Slide 6: Key Project Wins in Power T&D Demonstrate Scalable Opportunities
Key Project Wins in Power T&D Demonstrate Scalable Opportunities Q4 2024 National Energy and Water Midwest Electric Authority Customer Cooperative Customer ~€11M Solutions Award ~$3M Solutions Award EMEA United States Upgraded Network Backbone Upgraded Network Backbone Centered around Belden switchi
Slide 7: Exceeded Expectations with a Return to Organic Growth
Exceeded Expectations with a Return to Organic Growth Q4 2024 Key Messages Orders up $2M QoQ $ Millions Q4 2024(1) Q4 2023(1) YoY and +23% YoY Revenue $666.0 $551.2 +21% Revenue +21% YoY, Gross Profit $253.7 $210.6 +20% ahead of expectations set forth in prior guidance Gross Profit % 38.1% 38.2% -10
Slide 8: Strong Order Growth during a Challenging Backdrop
Strong Order Growth during a Challenging Backdrop FY 2024 Key Messages $ Millions FY 2024(1) FY 2023(1) YoY Full Year Orders +9% YoY Revenue $2,461.0 $2,512.1 -2% Full Year Organic Gross Profit $937.4 $966.4 -3% Revenue(4) -6% YoY Gross Profit % 38.1% 38.5% -40 bps • Automation Solutions Organic Rev
Slide 9: Segments Return to Growth with Expanding Margins
Segments Return to Growth with Expanding Margins Q4 2024 Segment Results Automation Solutions Segment Smart Infrastructure Solutions Segment Orders up slightly sequentially and up 21% Orders down slightly sequentially and up 26% compared compared to the prior year period. to the prior year period. R
Slide 10: Consistent Free Cash Flow Deployed to Enhance Solutions Through Acquisitions
Consistent Free Cash Flow Deployed to Enhance Solutions Through Acquisitions YE 2024 Balance Sheet and Cash Flow Highlights Cash and Cash Equivalent Net Leverage(1) TTM Free Cash Flow(2) Capital deployed towards share Leverage reflects strong free cash flow Strong free cash flow driven by stable rep
Slide 11: Q1 2025 Guidance
Q1 2025 Guidance Guidance as of February 6, 2025 Q1 2025 Guidance Total Revenue ($million) $605 to $620 GAAP EPS $1.03 to $1.13 Adjusted EPS $1.43 to $1.53 Q1 2025 Assumptions Interest Expense Tax Rate Share Count $10.4M 18.3% 41.1M Q1 2025 guidance includes currency exchange rate headwinds of appro
Slide 12: Corporate Overview
CORPORATE OVERVIEW BELDEN INC. NYSE : BDC
Slide 13: Belden Delivers a Simpler, Smarter and Secure Digital Infrastructure
B E L D E N AT- A - G L A N C E Belden Delivers a Simpler, Smarter and Secure Digital Infrastructure NYSE: BDC 2024 Results Revenue Adj. EBITDA1 Adj. EPS1 Free Cash Flow1 Associates $2.5B $411M $6.36 $223M ~8,000 2024 Segment Results Sales By Region 21% EMEA Automation Solutions Smart Infrastructure
Slide 14: Targeting Priority Verticals for Solutions
Targeting 12 Priority Verticals for Solutions Where Data Generation and Usage are Increasing Significantly Auto CPG Material Handling Chemical Power T&D Mass Transit Data Centers Healthcare Hospitality Higher Education Semiconductor Broadband / Telco
Slide 15: Strong Secular Growth Trends Creating New Opportunities and Driving Growth
Strong Secular Growth Trends Creating New Opportunities and Driving Growth Automation Hybrid Networks Critical Infrastructure Reshoring Increasing Digitization Increasing Bandwidth Industry 4.0 Remote Monitoring Usage Labor Challenges and Management Government-Supported Growing Data
Slide 16: Belden Solutions: We Engage With Customers To Solve Complex Problems
Belden Solutions: We Engage With Customers To Solve Complex Problems How We Engage with Customers Solutions Experts Identify and During the Solutions Process Solve Key Challenges Differentiated Process and Expertise Solution Account Solution Solution Exploration Solutioning Validation Manager Consul
Slide 17: Executing Clearly Defined Strategy
Executing Clearly Defined Strategy 1 2 3 4 Growing portfolio Delivering Advancing Enhancing of best-in-class long term growth our Solutions growth with networking & in earnings and capabilities selective M&A data products FCF generation Clearly Defined Strategy
Slide 18: Clear Capital Allocation Priorities
Clear Capital Allocation Priorities 1 2 3 Organic Growth Strategic M&A Return Capital to Shareholders Drive organic growth Fill key solutions gaps Return capital to shareholders through reinvestment with our M&A through share repurchases and framework dividends All while maintaining net leverage of
Slide 19: Our Growth Algorithm Will Deliver Long Term Shareholder Value
2 0 2 8 F I N A N C I A L TA R G E T S Our Growth Algorithm Will Deliver Long Term Shareholder Value Long Term Value Creation Through the Cycle MSD(1) 25-30% ~10% ~1.5X 10-12% CAGR Organic Revenue Incremental Free Cash Net Leverage EPS Growth Growth EBITDA Margins Flow Margin(2) Adjusted results 1)
Slide 20: Appendix
APPENDIX [B Belden Belden | 20
Slide 21: Statement of Operations
Statement of Operations Unaudited Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, 2024 2023 2024 2023 (In thousands, except per share data) Revenues $ 666,042 $ 551,243 $ 2,460,979 $ 2,512,084 Cost of sales (416,226) (344,878) (1,538,757) (1,557,118) Gross
Slide 22: Operating Segment Information
Operating Segment Information Unaudited Smart Infrastructure Automation Solutions Solutions (In thousands, except percentages) For the three months ended December 31, 2024 Segment Revenues $ 319,581 $ 346,461 Segment EBITDA 42,401 71,465 Segment EBITDA margin 13.3 % 20.6 % Depreciation expense 6,954
Slide 23: Balance Sheet
Balance Sheet Unaudited December 31, 2024 December 31, 2023 (Unaudited) (In thousands) ASSETS Current assets: Cash and cash equivalents $ 370,302 $ 597,044 Receivables, net 409,711 413,806 Inventories, net 343,099 366,987 Other current assets 73,117 79,142 Total current assets 1,196,229 1,456,979 Pr
Slide 24: Cash Flow Statement
Cash Flow Statement Unaudited Twelve Months Ended December 31, 2024 December 31, 2023 (In thousands) Cash flows from operating activities: Net income $ 198,414 $ 242,556 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 115,741 99,446 Share-base
Slide 25: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Unaudited Three Months Ended Twelve Months Ended December 31, December 31, December 31, December 31, 2024 2023 2024 2023 In addition to reporting financial results in accordance with accounting principles (In thousands, except percentages and per share amounts) ge
Slide 26: Reconciliation of Non-GAAP Measures (continued)
Reconciliation of Non-GAAP Measures (continued) Unaudited In addition to reporting financial results in accordance with accounting principles Three Months Ended Twelve Months Ended generally accepted in the United States, we provide non-GAAP operating results December 31, December 31, December 31, D
Slide 27: Free Cash Flow GAAP to Non-GAAP Reconciliation
Free Cash Flow GAAP to Non-GAAP Reconciliation Unaudited Three Months Ended Twelve Months Ended We define free cash flow, which is a non-GAAP financial measure, December 31, December 31, December 31, December 31, as net cash from operating activities adjusted for capital 2024 2023 2024 2023 expendit
Slide 28: Reconciliation of Non-GAAP Measures: Guidance
Reconciliation of Non-GAAP Measures Guidance Three Months Ended Our guidance is based upon information currently available March 30, 2025 regarding events and conditions that will impact our future operating results. In particular, our results are subject to the GAAP income from continuing operation
Slide 29: Thank you
Thank you Aaron Reddington CFA Vice President Investor Relations investor.relations@belden.com