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Bel Fuse Inc
F:BF2A

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Bel Fuse Inc Logo
Bel Fuse Inc
F:BF2A
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Price: 206 EUR -0.96% Market Closed
Market Cap: €2.6B

Bel Fuse Inc
Investor Relations

Bel Fuse makes the small but essential parts that help electronic systems move power and signals reliably. Its products include connectors, power protection devices, magnetics, and power conversion components used inside telecom equipment, networking gear, industrial systems, aerospace and defense electronics, and some consumer devices. In plain terms, it sells the hardware that sits inside larger equipment and helps that equipment run safely and efficiently. The company sells mainly to original equipment manufacturers and distributors that build or supply those end markets. It makes money by designing, manufacturing, and selling these components, with customers paying for standard parts as well as application-specific products built to meet technical requirements. Because many of its parts are chosen early in a customer’s design process, Bel Fuse can become a long-term supplier once its components are designed into a product. What makes Bel Fuse’s business model different is that it sits in the middle of the electronics supply chain rather than selling finished devices. Its value comes from engineering know-how, product reliability, and the ability to supply parts that meet strict electrical and mechanical standards. That makes it less like a consumer brand and more like a specialized industrial supplier that supports the hidden infrastructure inside electronic equipment.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 30, 2026
AI Summary
Q1 2026

Strong quarter: Bel started fiscal 2026 with sales of $178.5 million, up 17.2% year over year, and gross margin improved to 39% despite higher material costs and FX pressure.

Guidance up: Management guided Q2 sales to $195 million to $215 million and gross margin to 38% to 40%, citing robust bookings and strength in defense, commercial aerospace, and data solutions.

Business reshaped: Bel completed a major realignment into two business units and closed the $16 million dataMate acquisition, which adds about $18 million in annual sales and is expected to be immediately accretive.

Demand mix: Aerospace, defense, space, and AI-driven data solutions were the key growth engines, while transportation, especially rail and e-mobility, remained weak.

Cost pressure: Management said input costs, wages, and unfavorable FX are pressuring margins in the near term, but pricing actions and procurement improvements should help more in the second half.

M&A active: The company said it is not pausing on acquisitions and remains actively looking for more deals, supported by cash flow and balance sheet flexibility.

Key Financials
Sales
$178.5 million
Gross margin
39%
Operating income
$23.7 million
Adjusted EBITDA
$34.5 million
ADRS sales
$99.8 million
ADRS gross margin
41.5%
ITDS sales
$78.7 million
ITDS gross margin
36.6%
R&D expense
$8.5 million
SG&A expense
$36.7 million
Cash and securities
$59.4 million
Operating cash flow
$13.8 million
Capital expenditures
$2.6 million
dataMate acquisition cost
$15.2 million
Net borrowings
$7 million
dataMate annual sales
approximately $18 million
dataMate purchase price
$16 million
Other Earnings Calls

Management

Mr. Daniel Bernstein
President, CEO & Director
No Bio Available
Mr. Farouq Tuweiq
CFO, Principal Financial Officer & Treasurer
No Bio Available
Ms. Suzanne Kozlovsky
Global Head of People
No Bio Available
Mr. Peter G. Bittner III
VP & President of Bel Connectivity Solutions
No Bio Available
Ms. Lynn Hutkin CPA
Principal Accounting Officer, Company Secretary, VP of Financial Reporting & Investor Relations
No Bio Available
Mr. Uma Pingali
Global Head of Sales & Marketing
No Bio Available
Ms. Ping Gencianeo
Global ESG Director
No Bio Available
Mr. Steve Dawson
VP & President of Bel Power Solutions & Protection
No Bio Available

Contacts

Address
NEW JERSEY
Jersey City
206 van Vorst St
Contacts
+12014320463.0
belfuse.com
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