Belden Posts Record Year, Pivots to Unified Model for IT/OT Growth

ST. LOUIS, MO – February 12, 2026 – Belden Inc. (NYSE: BDC) capped a record-breaking fiscal 2025 by reporting its highest-ever annual revenue and earnings, driven by formidable strength in its industrial automation business. However, the financial triumph was paired with a landmark announcement of a fundamental strategic reorganization designed to accelerate its transformation into an integrated solutions provider and capitalize on the burgeoning convergence of Information Technology (IT) and Operational Technology (OT).

The specialty networking solutions supplier announced full-year revenues of $2.715 billion, a 10% increase over the prior year, with record adjusted earnings per share (EPS) of $7.54, up 19% year-over-year. The results underscore a period of significant market traction and operational execution for the company.

Record Performance Driven by Automation

Belden's stellar financial performance in 2025 was largely propelled by its Automation Solutions segment, which saw organic revenue climb 11% for the full year and 10% in the fourth quarter. This division, which includes industrial networking and connectivity brands like Hirschmann and Lumberg Automation, delivered nearly $1.5 billion in revenue, reflecting robust demand in industrial settings for increased connectivity and data capabilities.

"2025 was a year of clear progress and broadened market traction across the business," said Ashish Chand, President and CEO of Belden Inc., in the company's earnings release. "Record orders underpinned a milestone year, delivering record revenue of $2.7 billion... and record adjusted EPS of $7.54."

The fourth quarter continued this trend, with record revenues of $720 million, an 8% year-over-year increase, and a record adjusted EPS of $2.08. The strong performance allowed Belden to continue its capital return program, repurchasing 1.7 million shares for $195 million throughout the year, signaling confidence from management in the company's financial health and long-term value.

A Fundamental Shift to a Unified Model

Beyond the impressive numbers, Belden unveiled a fundamental shift in its operational structure that took effect on January 1, 2026. The company has transitioned from its legacy two-segment structure (Automation Solutions and Smart Infrastructure Solutions) to a unified, functional operating model. This move dissolves the internal walls between its business units to create a single, enterprise-wide organization focused on core functions.

The goal, as stated by the company, is to accelerate its 'solutions transformation' and more effectively address the complex needs of customers navigating the convergence of IT and OT. In a world where factory floors and corporate networks are increasingly intertwined, this new structure is designed to streamline the delivery of integrated solutions.

"As IT and OT networks increasingly converge, realigning our organizational structure enables us to sell and deliver converged solutions more efficiently and consistently," the company explained. This change is expected to speed up decision-making, clarify accountability, and make it simpler for Belden to package its entire product portfolio into customer-centric solutions. Reflecting this new internal reality, Belden will begin reporting its financials as a single consolidated segment in the first quarter of 2026.

Powering the IT/OT Convergence

This reorganization is Belden's strategic response to one of the most significant trends in modern industry. The IT/OT convergence market, where the data-centric world of information technology meets the physical world of industrial operations, is a rapidly expanding field projected to exceed $100 billion by 2030. Companies are racing to connect their machinery and operational systems to the cloud and enterprise networks to gain real-time insights, enable predictive maintenance, and drive data-driven efficiencies.

Belden is positioning itself as a key enabler of this transformation. Its strategy is to move beyond selling individual components like cables and switches and instead provide 'complete connection solutions' that form the essential backbone for these mission-critical networks. This is evident in the growth of its solutions business, which accounted for over 15% of total revenue in 2025, with a pipeline that grew approximately 26% year-over-year.

The company's portfolio is purpose-built for these harsh, complex environments. Its Hirschmann brand provides rugged industrial Ethernet switches, firewalls, and edge computing gateways that manage data flow and security on the factory floor. Meanwhile, its Lumberg Automation brand offers the I/O systems and connectors that physically link machines and sensors. This comprehensive offering allows Belden to provide a secure and reliable data path from the operational edge to the enterprise cloud, a critical requirement for Industrial IoT (IIoT) and smart factory initiatives.

Navigating Uncertainty with a Clear Long-Term Vision

While celebrating a banner year, Belden's leadership remains pragmatic about the near-term economic environment. The company issued first-quarter 2026 guidance with revenues projected between $675 million and $690 million and adjusted EPS between $1.65 and $1.75, reflecting what it calls "ongoing uncertainty in the market" and typical seasonal trends.

Despite this caution, the company's long-term outlook is bullish, anchored by what it sees as powerful secular tailwinds. "We are strategically positioned for the long term, with secular trends such as digitization, IT/OT convergence, physical AI and data driven efficiency supporting customer needs," stated Dr. Chand. He noted that the company's growing solutions adoption and resilient business model enable it to manage near-term variability while executing its long-term vision.

This dual focus on disciplined execution and strategic evolution is how Belden plans to navigate the complexities of the current market. By realigning its entire organization to chase the future of industrial connectivity while delivering strong results in the present, the company is building a foundation for sustained growth in an increasingly connected world.