Bel Reports Second Quarter and First Half 2026 Results
Rhea-AI Summary
Bel Fuse (Nasdaq: BELFA, BELFB) reported preliminary Q2 2026 net sales of $210.7 million, up 25.1% from Q2 2025, with gross margin rising to 39.9% from 38.7%. GAAP net earnings attributable to Bel shareholders were $25.5 million, slightly below $26.9 million a year ago, while non-GAAP net earnings increased to $39.1 million. Adjusted EBITDA reached $48.9 million (23.2% of sales) versus $35.2 million (20.9%).
For the first half of 2026, net sales were $389.2 million (up 21.4%), with a 39.5% gross margin. Bel raised $441.6 million in net equity offering proceeds and repaid $197.5 million of debt, leaving no long-term debt and cash of $306.1 million. Bel guided Q3 2026 sales to $205–$225 million and gross margin to 39–41%, assuming current market conditions continue. All 2026 figures are preliminary.
Positive
- Q2 2026 net sales up 25.1% YoY to $210.7 million
- Q2 2026 gross margin improved to 39.9% from 38.7%
- Non-GAAP net earnings rose to $39.1 million from $21.0 million
- Adjusted EBITDA increased to $48.9 million (23.2% margin) from $35.2 million (20.9%)
- Equity offering net proceeds of $441.6 million, with $197.5 million debt repaid
- Long-term debt reduced to $0 from $197.5 million, cash up to $306.1 million
Negative
- GAAP net earnings attributable to shareholders fell to $25.5 million from $26.9 million in Q2 2025
- First-half 2026 GAAP net earnings attributable to shareholders declined to $36.9 million from $44.7 million
- YTD 2026 operating margin decreased to 16.0% from 17.1% a year earlier
- Class B basic shares outstanding increased to 11,483 from 10,551, implying dilution for existing holders
News Explained
The additional disclosure is that Bel Fuse says its
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 16 | Earnings call scheduling | Neutral | -2.2% | Scheduled release of preliminary second-quarter results and an earnings conference call |
| May 21 | Quarterly dividend | Positive | +6.9% | Declared regular cash dividends for Class A and Class B shareholders |
| May 13 | Public offering pricing | Negative | +0.9% | Priced an upsized Class B share offering to fund debt repayment and strategic purposes |
| May 12 | Public offering launch | Negative | -10.9% | Launched a Class B share offering using an automatic Form S-3 shelf registration |
| May 01 | Investor conference schedule | Neutral | +5.2% | Announced executive participation in three May investor conferences |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent Bel Fuse news reactions were mixed, with both positive and negative announcements followed by divergent price responses.
Key Terms
gaap financial
non-gaap financial
adjusted ebitda financial
erp conversion technical
redeemable noncontrolling interest financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Provides Q3-26 Sales and Gross Margin Guidance
WEST ORANGE, N.J., July 29, 2026 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the second quarter and first half of 2026.
Second Quarter 2026 Highlights
- Net sales of
$210.7 million compared to$168.3 million in Q2-25. Up25.1% from Q2-25 - Gross profit margin of
39.9% , up from38.7% in Q2-25 - GAAP net earnings attributable to Bel shareholders of
$25.5 million in Q2-26, compared to net earnings of$26.9 million in Q2-25. Non-GAAP net earnings attributable to Bel shareholders of$39.1 million in Q2-26, versus$21.0 million in Q2-25 - Adjusted EBITDA of
$48.9 million (23.2% of sales), compared to$35.2 million (20.9% of sales) in Q2-25 - Raised
$441.6 million in net proceeds from equity offering; paid down$197.5 million of debt
Farouq Tuweiq, President and CEO of Bel, said, “We delivered a very strong second quarter, with sales and gross margin toward the high end of our estimated ranges, driven by defense and data solutions demand and continued distribution recovery. The quarter also included several operational milestones: DataMate completed its facility transition and ERP conversion, and our Slovakia site achieved defense-manufacturer qualification to support the Enercon integration and European expansion. In addition, the team completed an equity offering, raising net proceeds of
“Bookings remained healthy, and assuming the continuation of current market conditions, we expect third-quarter 2026 sales of
Conference Call
Bel has scheduled a conference call for 8:30 a.m. ET on Thursday, July 30, 2026 to discuss these results. To participate in the conference call, investors should dial 877-407-0784, or 201-689-8560 if dialing internationally. The presentation will additionally be broadcast live over the Internet and will be available at https://ir.belfuse.com/events-and-presentations. The webcast will be available via replay for a period of at least 30 days at this same Internet address. For those unable to access the live call, a telephone replay will be available at 844-512-2921, or 412-317-6671 if dialing internationally, using access code 13761209 after 12:30 pm ET, also for 30 days.
About Bel
Bel (www.belfuse.com) designs, manufactures, and markets critical electronic components, systems and solutions for customers in aerospace, defense, industrial, and data-driven markets. Understanding that our customers face increasingly complex technical challenges, Bel delivers a comprehensive portfolio of solutions including power systems, high-reliability connectors and cable assemblies, circuit protection, and networking products that enable Original Equipment Manufacturers (OEMs) to bring their innovations to market. Bel partners closely with customers to deliver both customized and standard solutions tailored to their specific applications and performance requirements. With manufacturing facilities and technical support teams worldwide, Bel serves as a strategic partner to customers who require proven reliability in demanding end markets.
Company Contact:
Lynn Hutkin
Chief Financial Officer
ir@belf.com
Investor Contact:
Three Part Advisors
Jean Marie Young, Managing Director or Steven Hooser, Partner
631-418-4339
jyoung@threepa.com; shooser@threepa.com
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date of this release and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “forecast,” “outlook,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Bel’s control. Bel’s actual results could differ materially from those stated or implied in our forward-looking statements (including without limitation any of Bel’s projections) due to a number of factors, including but not limited to, the following: risks related to the protection of our intellectual property rights; difficulties associated with integrating previously acquired companies, including any unanticipated difficulties, or unexpected or higher than anticipated expenditures; the possibility that the Bel’s intended acquisition of the remaining
Non-GAAP Financial Measures
The Non-GAAP financial measures identified in this press release as well as in the supplementary information to this press release (Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA) are not measures of performance under accounting principles generally accepted in the United States of America ("GAAP"). These measures should not be considered a substitute for, and the reader should also consider, income from operations, net earnings, earnings per share and other measures of performance as defined by GAAP as indicators of our performance or profitability. Our non-GAAP measures may not be comparable to other similarly-titled captions of other companies due to differences in the method of calculation. We present results adjusted to exclude the effects of certain unusual or special items and their related tax impact that would otherwise be included under U.S. GAAP, to aid in comparisons with other periods. We believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. We use these non-GAAP measures to compare the Company’s performance to that of prior periods for trend analysis and for budgeting and planning purposes. We also believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similarly situated companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures, such as Non-GAAP net earnings attributable to Bel shareholders, Non-GAAP EPS, Non-GAAP Operating Income and Adjusted EBITDA, adjust corresponding GAAP measures for provision for income taxes, other income/expense, net, interest income/expense, and depreciation and amortization, and also exclude, where applicable for the covered period presented in the financial statements, certain unusual or special items identified by management such as stock-based compensation, amortization of intangibles (which primarily related to the amortization of finite-lived customer relationships and technology associated with the company's historical acquisitions), unrealized foreign currency exchange (gains) losses, restructuring charges (credits), gains/losses on sales of businesses and properties, acquisition related costs (for proposed or completed transactions), earnout liability adjustments, impairment charges, noncontrolling interest ("NCI") adjustments from fair value to redemption value, write-off of deferred financing costs, and certain litigation costs. Please refer to the financial information included with this press release for reconciliations of GAAP financial measures to Non-GAAP financial measures and our explanation of why we present Non-GAAP financial measures.
Website Information
We routinely post important information for investors on our website, www.belfuse.com, in the "Investor Relations" section. We may use our website as a means of disclosing material, otherwise non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
[Financial tables follow]
| Bel Fuse Inc. Supplementary Information(1) Condensed Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net sales | $ | 210,685 | $ | 168,299 | $ | 389,176 | $ | 320,537 | ||||||||
| Cost of sales | 126,718 | 103,216 | 235,611 | 196,635 | ||||||||||||
| Gross profit | 83,967 | 65,083 | 153,565 | 123,902 | ||||||||||||
| As a % of net sales | 39.9 | % | 38.7 | % | 39.5 | % | 38.7 | % | ||||||||
| Research and development costs | 9,006 | 8,104 | 17,513 | 15,326 | ||||||||||||
| Selling, general and administrative expenses | 36,285 | 30,914 | 73,015 | 60,421 | ||||||||||||
| As a % of net sales | 17.2 | % | 18.4 | % | 18.8 | % | 18.8 | % | ||||||||
| Restructuring charges (credits) | 24 | 280 | 100 | (2,653 | ) | |||||||||||
| Gain on sale of properties | - | (4,075 | ) | - | (4,075 | ) | ||||||||||
| Earnout liability adjustments | 233 | - | 852 | - | ||||||||||||
| Income from operations | 38,419 | 29,860 | 62,085 | 54,883 | ||||||||||||
| As a % of net sales | 18.2 | % | 17.7 | % | 16.0 | % | 17.1 | % | ||||||||
| Interest expense | (1,802 | ) | (3,993 | ) | (4,332 | ) | (8,145 | ) | ||||||||
| Interest income | 1,280 | 264 | 1,430 | 539 | ||||||||||||
| Other (expense) income, net | (137 | ) | 7,568 | (3,631 | ) | 10,207 | ||||||||||
| Earnings before income taxes | 37,760 | 33,699 | 55,552 | 57,484 | ||||||||||||
| Provision for income taxes | 3,785 | 6,906 | 6,593 | 12,369 | ||||||||||||
| Effective tax rate | 10.0 | % | 20.5 | % | 11.9 | % | 21.5 | % | ||||||||
| Net earnings | 33,975 | 26,793 | 48,959 | 45,115 | ||||||||||||
| As a % of net sales | 16.1 | % | 15.9 | % | 12.6 | % | 14.1 | % | ||||||||
| Less: Net earnings attributable to noncontrolling interest | 1,757 | 822 | 2,729 | 1,660 | ||||||||||||
| Redemption value adjustment attributable to noncontrolling interest | 6,738 | (890 | ) | 9,371 | (1,280 | ) | ||||||||||
| Net earnings attributable to Bel Fuse shareholders | $ | 25,480 | $ | 26,861 | $ | 36,859 | $ | 44,735 | ||||||||
| Weighted average number of shares outstanding: | ||||||||||||||||
| Class A common shares - basic | 2,115 | 2,115 | 2,115 | 2,115 | ||||||||||||
| Class A common shares - diluted | 2,115 | 2,115 | 2,115 | 2,115 | ||||||||||||
| Class B common shares - basic | 11,483 | 10,551 | 11,020 | 10,504 | ||||||||||||
| Class B common shares - diluted | 11,497 | 10,551 | 11,028 | 10,504 | ||||||||||||
| Net earnings per common share: | ||||||||||||||||
| Class A common shares - basic | $ | 1.80 | $ | 2.03 | $ | 2.69 | $ | 3.39 | ||||||||
| Class A common shares - diluted | $ | 1.79 | $ | 2.03 | $ | 2.68 | $ | 3.39 | ||||||||
| Class B common shares - basic | $ | 1.89 | $ | 2.14 | $ | 2.83 | $ | 3.58 | ||||||||
| Class B common shares - diluted | $ | 1.89 | $ | 2.14 | $ | 2.83 | $ | 3.58 | ||||||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
| Bel Fuse Inc. Supplementary Information(1) Condensed Consolidated Balance Sheets (in thousands, unaudited) | ||||||||
| June 30, 2026 | December 31, 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 306,106 | $ | 57,800 | ||||
| Accounts receivable, net | 155,884 | 121,490 | ||||||
| Inventories | 200,226 | 167,270 | ||||||
| Other current assets | 36,514 | 38,201 | ||||||
| Total current assets | 698,730 | 384,761 | ||||||
| Property, plant and equipment, net | 47,051 | 48,428 | ||||||
| Right-of-use assets | 33,354 | 22,868 | ||||||
| Goodwill and other intangible assets, net | 435,799 | 432,787 | ||||||
| Other assets | 49,248 | 46,356 | ||||||
| Total assets | $ | 1,264,182 | $ | 935,200 | ||||
| Liabilities, redeemable noncontrolling interest and shareholders' equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 87,612 | $ | 52,990 | ||||
| Operating lease liabilities, current | 8,748 | 8,029 | ||||||
| Other current liabilities | 59,561 | 66,426 | ||||||
| Total current liabilities | 155,921 | 127,445 | ||||||
| Long-term debt | - | 197,500 | ||||||
| Operating lease liabilities long-term | 25,514 | 15,867 | ||||||
| Other liabilities | 70,775 | 75,714 | ||||||
| Total liabilities | 252,210 | 416,526 | ||||||
| Redeemable noncontrolling interest | 102,601 | 93,161 | ||||||
| Shareholders' equity | 909,371 | 425,513 | ||||||
| Total liabilities, redeemable noncontrolling interest and shareholders' equity | $ | 1,264,182 | $ | 935,200 | ||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
| Bel Fuse Inc. Supplementary Information(1) Condensed Consolidated Statements of Cash Flows (in thousands, unaudited) | ||||||||
| Six Months Ended | ||||||||
| June 30, | ||||||||
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net earnings | $ | 48,959 | $ | 45,115 | ||||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 13,535 | 13,284 | ||||||
| Stock-based compensation | 5,111 | 2,900 | ||||||
| Amortization of deferred financing costs | 1,090 | 692 | ||||||
| Deferred income taxes | (4,557 | ) | (861 | ) | ||||
| Unrealized losses (gains) on foreign currency revaluation | 3,786 | (12,913 | ) | |||||
| Gain on sale/disposal of property | - | (4,075 | ) | |||||
| Inventory impairment | 1,186 | - | ||||||
| Changes in fair value of contingent consideration liabilities | 852 | - | ||||||
| Other, net | (622 | ) | 1,595 | |||||
| Changes in operating assets and liabilities: | ||||||||
| Increase in accounts receivable | (32,095 | ) | (8,203 | ) | ||||
| Decrease (increase) in unbilled receivables | 67 | (1,400 | ) | |||||
| Increase in inventories | (32,166 | ) | (122 | ) | ||||
| Increase in other current assets | (563 | ) | (4,994 | ) | ||||
| (Increase) decrease in other assets | (2,006 | ) | 2,443 | |||||
| Increase in accounts payable | 33,072 | 3,511 | ||||||
| Decrease in accrued expenses | (4,310 | ) | (8,641 | ) | ||||
| Decrease in accrued restructuring costs | (479 | ) | (5,075 | ) | ||||
| Increase in income taxes payable | 1,745 | 2,143 | ||||||
| (Decrease) increase in other liabilities | (843 | ) | 3,465 | |||||
| Net cash provided by operating activities | 31,762 | 28,864 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchases of property, plant and equipment | (4,890 | ) | (6,718 | ) | ||||
| Proceeds from held to maturity securities | - | 950 | ||||||
| Investment in related party notes receivable | - | (778 | ) | |||||
| Proceeds from disposal/sale of property, plant and equipment | 3 | 4,867 | ||||||
| Acquisition of business, net of cash acquired | (15,224 | ) | - | |||||
| Net cash used in investing activities | (20,111 | ) | (1,679 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Dividends paid to common shareholders | (1,684 | ) | (1,660 | ) | ||||
| Dividends paid to noncontrolling interest | (2,661 | ) | - | |||||
| Payment for contingent consideration | (3,531 | ) | - | |||||
| Deferred financing costs | - | (681 | ) | |||||
| Repayments under revolving line of credit | (217,500 | ) | (42,500 | ) | ||||
| Borrowings under revolving line of credit | 20,000 | 5,000 | ||||||
| Proceeds from issuance of common stock, net | 441,643 | - | ||||||
| Net cash provided by (used in) financing activities | 236,267 | (39,841 | ) | |||||
| Effect of exchange rate changes on cash | 388 | 3,687 | ||||||
| Net increase (decrease) in cash and cash equivalents | 248,306 | (8,969 | ) | |||||
| Cash and cash equivalents - beginning of year | 57,800 | 68,253 | ||||||
| Cash and cash equivalents - end of year | $ | 306,106 | $ | 59,284 | ||||
| Supplementary information: | ||||||||
| Cash paid during the period for: | ||||||||
| Income taxes, net of refunds received | $ | 10,429 | $ | 11,422 | ||||
| Interest payments | $ | 3,816 | $ | 8,188 | ||||
| ROU assets obtained in exchange for lease obligations | $ | 14,771 | $ | 1,502 | ||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
| Bel Fuse Inc. Supplementary Information(1) Segment Highlights (dollars in thousands, unaudited) | ||||||||||||||||||||||||
| Sales | Gross Margin | |||||||||||||||||||||||
| Q2-26 | Q2-25 | % Change | Q2-26 | Q2-25 | Basis Point Change | |||||||||||||||||||
| Aerospace, Defense & Rugged Solutions | $ | 110,457 | $ | 91,832 | 20.3 | % | 41.1 | % | 41.4 | % | (30 | ) | ||||||||||||
| Industrial Technology & Data Solutions | 100,228 | 76,467 | 31.1 | % | 38.8 | % | 36.6 | % | 220 | |||||||||||||||
| Total | $ | 210,685 | $ | 168,299 | 25.2 | % | 39.9 | % | 38.7 | % | 120 | |||||||||||||
| Sales | Gross Margin | |||||||||||||||||||||||
| YTD June 2026 | YTD June 2025 | % Change | YTD June 2026 | YTD June 2025 | Basis Point Change | |||||||||||||||||||
| Aerospace, Defense & Rugged Solutions | $ | 210,278 | 174,954 | 20.2 | % | 41.3 | % | 40.8 | % | 50 | ||||||||||||||
| Industrial Technology & Data Solutions | 178,898 | 145,583 | 22.9 | % | 37.8 | % | 36.9 | % | 90 | |||||||||||||||
| Total | $ | 389,176 | $ | 320,537 | 21.4 | % | 39.5 | % | 38.7 | % | 80 | |||||||||||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
| Bel Fuse Inc. Supplementary Information(1) Reconciliation of GAAP Net Earnings to Non-GAAP Operating Income and Adjusted EBITDA (in thousands, unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| GAAP Net earnings | $ | 33,975 | $ | 26,793 | $ | 48,959 | $ | 45,115 | ||||||||
| Provision for income taxes | 3,785 | 6,906 | 6,593 | 12,369 | ||||||||||||
| Other expense/income, net | 137 | (7,568 | ) | 3,631 | (10,207 | ) | ||||||||||
| Interest income | (1,280 | ) | (264 | ) | (1,430 | ) | (539 | ) | ||||||||
| Interest expense | 1,802 | 3,993 | 4,332 | 8,145 | ||||||||||||
| GAAP Operating Income | 38,419 | 29,860 | 62,085 | 54,883 | ||||||||||||
| Restructuring charges (credits) | 24 | 280 | 100 | (2,653 | ) | |||||||||||
| Earnout liability adjustments | 233 | - | 852 | - | ||||||||||||
| Stock-based compensation | 3,034 | 1,721 | 5,111 | 2,900 | ||||||||||||
| Acquisition related costs | 249 | - | 1,663 | - | ||||||||||||
| Amortization of inventory step-up | - | 799 | - | 1,757 | ||||||||||||
| Gain on sale of properties | - | (4,075 | ) | - | (4,075 | ) | ||||||||||
| Non-GAAP Operating Income | 41,959 | 28,585 | 69,811 | 52,812 | ||||||||||||
| Depreciation and amortization | 6,911 | 6,600 | 13,535 | 13,284 | ||||||||||||
| Adjusted EBITDA | $ | 48,870 | $ | 35,185 | $ | 83,346 | $ | 66,096 | ||||||||
| % of net sales | 23.2 | % | 20.9 | % | 21.4 | % | 20.6 | % | ||||||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
| Bel Fuse Inc. Supplementary Information(1) Reconciliation of GAAP Measures to Non-GAAP Measures (in thousands, except per share data) (unaudited) |
The following tables detail the impact that certain unusual or special items had on the Company's net earnings per common Class A and Class B basic shares ("EPS") and the line items in which these items were included on the consolidated statements of operations.
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||||||||||||||||||||||||||||||||||||||
| Reconciling Items | Earnings before taxes | Provision for income taxes | Net Earnings Attributable to Bel Fuse Shareholders | Basic Class A EPS(3) | Basic Class B EPS(3) | Earnings before taxes | Provision for income taxes | Net Earnings Attributable to Bel Fuse Shareholders | Basic Class A EPS(3) | Basic Class B EPS(3) | ||||||||||||||||||||||||||||||
| GAAP measures | $ | 37,760 | $ | 3,785 | $ | 25,480 | $ | 1.80 | $ | 1.89 | $ | 33,699 | $ | 6,906 | $ | 26,861 | $ | 2.03 | $ | 2.14 | ||||||||||||||||||||
| Restructuring charges | 24 | 4 | 20 | 0.00 | 0.00 | 280 | 48 | 232 | 0.02 | 0.02 | ||||||||||||||||||||||||||||||
| Earnout liability adjustments | 233 | 37 | 196 | 0.01 | 0.01 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Stock-based compensation | 3,034 | 677 | 2,357 | 0.17 | 0.17 | 1,721 | 354 | 1,367 | 0.10 | 0.11 | ||||||||||||||||||||||||||||||
| Acquisition related costs | 249 | 57 | 192 | 0.01 | 0.01 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Redemption value adjustment on redeemable NCI | - | - | 6,738 | 0.48 | 0.50 | - | - | (890 | ) | (0.07 | ) | (0.07 | ) | |||||||||||||||||||||||||||
| Amortization of intangibles | 3,941 | 710 | 3,231 | 0.23 | 0.24 | 3,697 | 647 | 3,050 | 0.23 | 0.24 | ||||||||||||||||||||||||||||||
| Unrealized foreign currency exchange losses/(gains) | 641 | 208 | 433 | 0.03 | 0.03 | (9,250 | ) | (2,127 | ) | (7,123 | ) | (0.54 | ) | (0.57 | ) | |||||||||||||||||||||||||
| Deferred financing cost write-off | 640 | 147 | 493 | 0.03 | 0.04 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Amortization of inventory step-up | - | - | - | - | - | 799 | 184 | 615 | 0.05 | 0.05 | ||||||||||||||||||||||||||||||
| Gain on sale of property | - | - | - | - | - | (4,075 | ) | (937 | ) | (3,138 | ) | (0.24 | ) | (0.25 | ) | |||||||||||||||||||||||||
| Non-GAAP measures | $ | 46,522 | $ | 5,625 | $ | 39,140 | $ | 2.76 | $ | 2.90 | $ | 26,871 | $ | 5,075 | $ | 20,974 | $ | 1.58 | $ | 1.67 | ||||||||||||||||||||
| Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 | |||||||||||||||||||||||||||||||||||||||
| Reconciling Items | Earnings before taxes | Provision for income taxes | Net Earnings Attributable to Bel Fuse Shareholders | Basic Class A EPS(3) | Basic Class B EPS(3) | Earnings before taxes | Provision for income taxes | Net Earnings Attributable to Bel Fuse Shareholders | Basic Class A EPS(3) | Basic Class B EPS(3) | ||||||||||||||||||||||||||||||
| GAAP measures | $ | 55,552 | $ | 6,593 | $ | 36,859 | $ | 2.69 | $ | 2.83 | $ | 57,484 | $ | 12,369 | $ | 44,735 | $ | 3.39 | $ | 3.58 | ||||||||||||||||||||
| Restructuring charges/(credits) | 100 | 15 | 85 | 0.01 | 0.01 | (2,653 | ) | (323 | ) | (2,330 | ) | (0.18 | ) | (0.19 | ) | |||||||||||||||||||||||||
| Earnout liability adjustments | 852 | 136 | 716 | 0.05 | 0.05 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Stock-based compensation | 5,111 | 1,140 | 3,971 | 0.29 | 0.30 | 2,900 | 597 | 2,303 | 0.18 | 0.18 | ||||||||||||||||||||||||||||||
| Acquisition related costs | 1,663 | 382 | 1,281 | 0.09 | 0.10 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Redemption value adjustment on redeemable NCI | - | - | 9,371 | 0.68 | 0.72 | - | - | (1,280 | ) | (0.10 | ) | (0.10 | ) | |||||||||||||||||||||||||||
| Amortization of intangibles | 7,641 | 1,357 | 6,284 | 0.46 | 0.48 | 7,383 | 1,295 | 6,088 | 0.46 | 0.49 | ||||||||||||||||||||||||||||||
| Unrealized foreign currency exchange losses/(gains) | 3,786 | 938 | 2,848 | 0.21 | 0.22 | (12,913 | ) | (2,995 | ) | (9,918 | ) | (0.75 | ) | (0.79 | ) | |||||||||||||||||||||||||
| Deferred financing cost write-off | 640 | 147 | 493 | 0.04 | 0.04 | - | - | - | - | - | ||||||||||||||||||||||||||||||
| Amortization of inventory step-up | - | - | - | - | - | 1,757 | 404 | 1,353 | 0.10 | 0.11 | ||||||||||||||||||||||||||||||
| Gain on sale of properties | - | - | - | - | - | (4,075 | ) | (937 | ) | (3,138 | ) | (0.24 | ) | (0.25 | ) | |||||||||||||||||||||||||
| Non-GAAP measures | $ | 75,345 | $ | 10,708 | $ | 61,908 | $ | 4.52 | $ | 4.75 | $ | 49,883 | $ | 10,410 | $ | 37,813 | $ | 2.86 | $ | 3.02 | ||||||||||||||||||||
(1) The supplementary information included in this press release for 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the SEC.
(2) Individual amounts of earnings per share may not agree to the total due to rounding.
