Bel Fuse Q1 sales $128.1M (-26% YoY); net earnings $15.9M; Q2 sales guide $125-135M

BEL FUSE INC /NJ

Net sales $128.1M vs $172.3M in Q1-23; net earnings $15.9M vs $14.6M YoY.
Gross profit margin 37.5% up from 31.1% YoY; adjusted EBITDA $24.5M (19.2% of sales).
Connectivity segment strong in commercial air/defense/space; Magnetics still destocking.
Q2-24 net sales guidance $125-135M, gross margin 34-36%.
Repurchased 109,000 shares for $6.3M in Q1.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEL FUSE INC /NJ reported the first quarter of 2024 results: revenue $128.1 million, net income $15.9 million. Guidance initiated.

Period: the first quarter of 2024
Revenue: $128.1 million
Net income: $15.9 million
Guidance: initiated
Result: preliminary results

Exact text from the filing

25, 2024 -- Bel Fuse Inc . (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the first quarter of 2024 . First Quarter 2024 Highlights • Net sales of $ 128.1 million compared to $ 172.3 million in Q1-23 • Gross profit margin of 37.5% , up from 31.1% in Q1-23 • Net earnings of $ 15.9 million versus $ 14.6 million in Q1-23 • Adjusted EBITDA of

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BEL FUSE INC /NJ filing history →

Source: SEC EDGAR

accession 0001437749-24-013252

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