Bel Fuse Q3 net sales $123.6M (-22% YoY); adj EBITDA $20.6M; Q4 guidance $117-125M

BEL FUSE INC /NJ

Net sales $123.6M vs $158.7M in Q3-23; net earnings $8.1M vs $19.4M; gross margin 36.1% up from 35.0%.
Adjusted EBITDA $20.6M (16.7% of sales) versus $29.9M (18.8% of sales) in Q3-23.
Enercon acquisition expected to close in Q4; no contribution included in guidance.
Q4 sales guidance $117-125M, gross margin 34-36%; positive bookings trend in Sept/Oct.
Fuse manufacturing consolidation in China expected to save ~$1.5M annually once completed by Q1 2025.

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