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Mar 31, 2024
Bel Fuse Q1 2024 Earnings Report
Bel Fuse reported first quarter 2024 results, with sustained gross margin performance and sales within the expected range.
Key Takeaways
Bel Fuse Inc. reported a decrease in net sales to $128.1 million compared to $172.3 million in Q1 2023, but achieved a higher gross profit margin of 37.5% compared to 31.1% in the same period last year. The company also repurchased 109,000 shares of Bel stock at an aggregate cost of $6.3 million.
Net sales reached $128.1 million, a decrease from $172.3 million in Q1 2023.
Gross profit margin increased to 37.5%, up from 31.1% in Q1 2023.
Connectivity segment showed strength with sales in commercial air, defense, and space end markets.
Company repurchased 109,000 shares of its stock for $6.3 million.
Revenue by Segment
Forward Guidance
Bel Fuse anticipates second quarter GAAP net sales to be in the range of $125 to $135 million with gross margins in the range of 34-36%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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