Bel Fuse Inc. announced preliminary financial results for the first quarter of 2025, with net sales increasing to $152.2 million from $128.1 million in Q1-24. Gross profit margin improved to 38.6% from 37.5%, and GAAP net earnings attributable to Bel shareholders were $17.9 million.
Net sales increased to $152.2 million in Q1-25, up from $128.1 million in Q1-24, with Enercon contributing $32.4 million.
Gross profit margin improved to 38.6% in Q1-25, compared to 37.5% in Q1-24.
GAAP net earnings attributable to Bel shareholders were $17.9 million in Q1-25, up from $15.9 million in Q1-24.
Adjusted EBITDA was $30.9 million (20.3% of sales) in Q1-25, an increase from $22.4 million (17.5% of sales) in Q1-24.
Bel Fuse projects second quarter 2025 GAAP net sales to be in the range of $145 million to $155 million, with gross margin between 37% and 39%. This guidance accounts for potential downside impact from China-related tariffs and lower intraquarter turns.
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