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Jun 30, 2024
Bel Fuse Q2 2024 Earnings Report
Reported sales above the midpoint of the expected range and continued gross margin performance.
Key Takeaways
Bel Fuse Inc. announced preliminary financial results for Q2 2024, with net sales of $133.2 million and a gross profit margin of 40.1%. The company repurchased 126,552 shares of its stock at a cost of $7.9 million.
Net sales reached $133.2 million, compared to $168.8 million in Q2-23.
Gross profit margin increased to 40.1% from 32.9% in Q2-23.
Solid results in commercial air, defense, and rail end markets partially offset lower sales to networking customers and distribution partners.
The Magnetic Solutions segment showed modest sequential recovery from Q1 2024.
Forward Guidance
Bel Fuse expects Q3-24 GAAP net sales in the range of $118 to $126 million with gross margins in the range of 34-36%.
Challenges Ahead
- Typical seasonal slowdown in Europe.
- Downward pressure on Power sales due to trade restrictions.
- Continued softness in networking and distribution until later in the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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