Filing Flows › Belden (BDC) › Q2 2026 › vs Q1 2026
Belden (BDC) Q2 2026 vs Q1 2026 (quarter over quarter)
Belden's revenue rose $53.8M (+8%) from $696M in Q1 2026 to $750M in Q2 2026. The biggest changes: Automation +$49.8M (+13%); Smart Buildings +$2.3M (+1%); Broadband +$1.8M (+1%). Gross margin 39.1% against 37.1% (+2.1 pts).
Belden, Q2 2026: revenue $750M (+12% year over year), operating margin 13.2%, net earnings $68.5M, operating cash flow $129M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 39.1% | 37.1% | +2.1 pts |
| Operating margin | 13.2% | 11.2% | +2.0 pts |
| Net margin | 9.1% | 7.3% | +1.8 pts |
| Free cash flow margin | 11.8% | -9.1% | +20.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Automation | $437M | $387M | $49.8M | +13% |
| Broadband | $157M | $155M | $1.8M | +1% |
| Smart Buildings | $156M | $154M | $2.3M | +1% |
| Revenue | $750M | $696M | $53.8M | +8% |
| Gross profit | $294M | $258M | $35.5M | +14% |
| Cost of revenue | $457M | $438M | $18.2M | +4% |
| Operating profit | $99.3M | $78.0M | $21.3M | +27% |
| Operating expenses | $194M | $180M | $14.2M | +8% |
| Pre-tax earnings | $85.2M | $62.8M | $22.4M | +36% |
| Other expense, net | $14.1M | $15.2M | −$1.1M | -7% |
| Research & development | $31.7M | $30.1M | $1.6M | +5% |
| SG&A | $148M | $139M | $9.2M | +7% |
| Other operating costs | $14.8M | $11.4M | $3.4M | +30% |
| Net earnings | $68.5M | $51.0M | $17.5M | +34% |
| Income tax | $16.7M | $11.7M | $4.9M | +42% |
| Depreciation & amortization | $36.1M | $32.5M | $3.6M | +11% |
| Share-based compensation | $9.0M | $9.2M | −$119K | -1% |
| Working capital & other | $15.6M | −$111M | $127M | — |
| Operating cash flow | $129M | −$18.7M | $148M | — |
| Free cash flow (OCF − capex) | $88.6M | −$63.1M | $152M | — |
| Capital expenditures | $40.7M | $44.4M | −$3.7M | -8% |
Questions
How much did Belden's revenue grow quarter over quarter in Q2 2026?
Belden's revenue rose $53.8M (+8%) from $696M in Q1 2026 to $750M in Q2 2026.
What drove Belden's revenue change in Q2 2026?
Automation +$49.8M (+13%); Smart Buildings +$2.3M (+1%); Broadband +$1.8M (+1%).