Bel Fuse Inc.

BELFA: 10-Q · periodic report

Bel Fuse reported Q2 2026 net sales of $210.7 million, up 25.2% from $168.3 million a year earlier, with income from operations rising about 29% to $38.4 million on defense demand and AI-driven data infrastructure growth. Net earnings attributable to Bel Fuse shareholders slipped to $25.5 million from $26.9 million as a $6.7 million non-cash redemption value adjustment on the Enercon noncontrolling interest and offering dilution outweighed operating gains, leaving Class A diluted EPS at $1.79 versus $2.03. The company completed a May 2026 follow-on offering of 1,725,000 Class B shares at $266.00 per share, raising $458.9 million gross and roughly $441.6 million net after underwriting discounts. Bel used approximately $197.5 million to retire all borrowings under its credit facility, ending the quarter debt-free with $306.1 million of cash and total assets of $1.26 billion. Backlog reached a record $594.7 million at June 30, 2026, up $155.6 million or 35.4% from year-end 2025, with the Industrial Technology & Data Solutions segment up 56.0%. Bel closed the roughly $16 million dataMate acquisition from Methode Electronics in March and states it intends to buy the remaining 20% of Enercon Technologies by early 2027, with leftover offering proceeds earmarked for that purchase and other acquisition opportunities.

SEC 10-Q•2mo ago

Bel Reports Second Quarter and First Half 2026 Results

Bel Fuse reported preliminary Q2 results with net sales rising 25.1% year-over-year to $210.7 million, driven by defense and data solutions demand. Gross margin expanded to 39.9%, while non-GAAP net earnings nearly doubled to $39.1 million despite GAAP earnings dipping slightly due to non-recurring items. The company completed a major balance sheet restructuring, raising $441.6 million in net equity proceeds and using $197.5 million to pay down all long-term debt. Operational milestones included the DataMate facility transition and defense-manufacturer qualification at the Slovakia site to support the Enercon integration. Management provided Q3 guidance for sales between $205 million and $225 million with gross margins expected in the 39% to 41% range.

•2mo ago

BELFA: 424B5 · prospectus supplement

Bel Fuse Inc. is offering 1.5 million shares of Class B common stock at $266.00 per share, raising gross proceeds of $399 million. The company granted underwriters a 30-day option to purchase up to an additional 225,000 shares, which would increase total gross proceeds to approximately $441 million. The net proceeds of approximately $383 million are intended to pay down outstanding indebtedness under the company's credit facility and fund the acquisition of the remaining 20% stake in Enercon Technologies, Ltd. Bel Fuse currently owns 80% of Enercon, and this transaction will result in full consolidation of the subsidiary. This offering represents approximately 14% dilution to existing Class B shareholders. The shares are priced at a discount to the May 12, 2026 closing price of $298.22. The offering is being conducted in compliance with FINRA Rule 5121 due to conflicts of interest with underwriters who will receive proceeds from debt repayment.

SEC 424B5•5mo ago

Bel Reports First Quarter 2026 Results

Bel Fuse reported Q1 2026 net sales of $178.5 million, up 17.2% year-over-year, driven by broad-based momentum and the recent dataMate acquisition. Gross profit margin improved to 39.0%, while adjusted EBITDA increased to $34.5 million. The company completed a business unit realignment to enhance customer intimacy and is seeing strong demand in aerospace, defense, and data infrastructure markets. CEO Farouq Tuweiq noted progress on new defense contracts and AI-driven datacenter investments. Looking ahead, Bel Fuse guided for Q2 sales between $195 million and $215 million with a gross margin of 38% to 40%, supported by robust bookings.

•5mo ago