Belden Orders Cross $1 Billion as Ruckus Lifts Sales

The Tip Desk · October 31, 2026 · 2 min read

Orders reached $1,017 million and revenue hit a record $966 million, up 38% year over year, as the company closed Ruckus on July 1.

Belden Inc. (BDC), a global full-stack networking solutions company, reported record third-quarter revenue of $966 million for the period ended September 27, 2026, up 38% from a year earlier and 11% organically.

The step-up from $750 million in the second quarter, when year-over-year growth was 12% and organic growth 8%, reflected the July 1 close of Ruckus Networks and a faster organic rate. Acquisitions and divestitures contributed 24 percentage points of the 38% revenue increase, copper pass-through pricing 3 points, and foreign currency none.

Orders surpassed $1 billion for the first time at $1,017 million, up 46% year over year and 16% organically, with a book-to-bill of 1.05 times. President and CEO Ashish Chand said demand remained robust across key markets as AI and automation drove investment in networking infrastructure from the data center to the factory floor.

GAAP earnings swung to a loss of $0.29 a share from $1.74 in the second quarter. Net income was a loss of $11 million, compared with $69 million in the prior quarter. The company said GAAP results reflected $100 million of non-cash purchase-accounting charges related to Ruckus, including amortization of acquired intangible assets and an inventory fair-value step-up. Those charges were excluded from adjusted results.

Adjusted EPS was $2.26, up 15% from $1.97 a year earlier. Adjusted EBITDA was $171 million, up 44% from $119 million a year earlier, with a 17.7% margin, up 70 basis points. GAAP gross margin was 35.1%, down from 37.7% a year earlier; adjusted gross margin was 41.5%, up from 38.2%.

Belden said it reached agreement to supply $100 million of fiber solutions to a major U.S. data-center customer in 2027. With that announcement, the company said it now expects the data-center business to grow by more than 50% next year.

Chand said Ruckus integration was progressing and that the company was encouraged by a growing cross-selling funnel and conversations with customers. He said Belden is increasingly positioned as a networking partner for physical AI and automation.

For the fourth quarter of 2026, assuming continuation of current market conditions, Belden guided to revenue of $960 million to $980 million, GAAP EPS of $0.24 to $0.39, and adjusted EPS of $2.20 to $2.35. Those revenue and adjusted EPS ranges sit above the third-quarter outlook issued in July of $950 million to $970 million in revenue and adjusted EPS of $2.15 to $2.30.

Chand said the fourth-quarter outlook reflects strong underlying demand and momentum as one company with Ruckus, that orders are at record levels entering the quarter, and that the solutions pipeline continues to build. He said the company remains disciplined given the near-term macroeconomic and supply-chain environment.