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Jun 30, 2023
Bel Fuse Q2 2023 Earnings Report
Bel Fuse Inc. reported solid results driven by continued execution in Q2 2023.
Key Takeaways
Bel Fuse Inc. reported net sales of $168.8 million for Q2 2023, compared to $170.6 million in Q2 2022. Gross profit margin increased to 32.9% from 26.6% in Q2 2022. The Power group achieved record sales this quarter of $87.1 million.
Net sales were $168.8 million, compared to $170.6 million in Q2 2022.
Non-GAAP adjusted net sales were $163.1 million, up from $161.4 million in Q2 2022.
Gross profit margin increased to 32.9% from 26.6% in Q2 2022.
Commercial aerospace sales grew by 102% over Q2-22 to $15.9 million.
Revenue by Segment
Forward Guidance
For the third quarter of 2023, Bel Fuse estimates GAAP net sales in the range of $157-$165 million and anticipates gross profit margins to largely hold at second quarter 2023 levels.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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