Bel Fuse Inc Stock Price, News & Analysis

Bel Fuse has completed its previously announced acquisition of Enercon Technologies, acquiring an 80% stake for $320 million based on a $400 million enterprise value. The deal includes up to $10 million in potential earnouts for 2025-2026, with plans to acquire the remaining 20% by early 2027. The transaction was funded with $80 million cash and $240 million in credit facility borrowings.

Enercon, headquartered in Netanya, Israel, is a leading supplier of power conversion and networking solutions for military and aerospace markets, with facilities in North America and India. The company reported LTM Q3 2024 sales of $115 million with a 47% gross profit margin. This acquisition expands Bel's aerospace and defense market portfolio and manufacturing capabilities.

Bel Fuse Inc. (Nasdaq: BELFA and BELFB) has announced its November 2024 investor conference schedule. The company will participate in two major events: the Baird 2024 Global Industrial Conference in Chicago on November 12, featuring a presentation at 8:30 am CT, and the 16th Annual Southwest IDEAS Investor Conference in Dallas on November 21, with a presentation at 2:00 pm CT.

CFO Farouq Tuweiq and VP Financial Reporting & Investor Relations Lynn Hutkin will attend both conferences, conducting meetings throughout the day. Investor presentation materials will be available on Bel Fuse's website in the investor relations section.

Bel Fuse has declared its regular quarterly cash dividends for both share classes. Class A shareholders will receive $0.06 per share, while Class B shareholders will receive $0.07 per share. The dividends will be paid on January 31, 2025, to shareholders of record as of January 15, 2025. The company currently has approximately 2,115,000 Class A common shares and 10,432,000 Class B common shares outstanding, totaling 12,547,000 common shares.

Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a company specializing in electronic circuit products, has announced its schedule for releasing third quarter 2024 financial results. The preliminary results will be disclosed after the market closes on Wednesday, October 23, 2024. Following this, an earnings conference call is set for Thursday, October 24, 2024, at 8:30 a.m. ET.

Interested parties can participate in the call by dialing 877.407.0784 (or 201.689.8560 for international callers). The call will also be accessible online at https://ir.belfuse.com/events-and-presentations. A replay of the call will be available from 12:30 p.m. ET for 30 days, accessible by dialing 844.512.2921 (or 412.317.6671 for international callers) with the Conference ID: 13749258.

Bel Fuse Inc. (Nasdaq:BELFA and BELFB) has announced an agreement to acquire an 80% stake in Enercon Technologies for $320 million, with plans to purchase the remaining 20% by early 2027. The acquisition, based on a $400 million enterprise value, will significantly expand Bel's presence in the aerospace and defense markets, increasing exposure from 17.5% to 31% of total revenue. Enercon, a leading supplier of power conversion and networking solutions, reported LTM Q2 2024 sales of $111 million with a 46% gross profit margin. The deal is expected to be accretive to Bel's GAAP EPS within one year and non-GAAP EPS immediately. The transaction, subject to regulatory approvals, is anticipated to close by the end of 2024.

Bel Fuse Inc. (NASDAQ: BELFA and BELFB) has announced its regular quarterly cash dividends. The company's Board of Directors declared dividends of $0.06 per share for Class A common shares and $0.07 per share for Class B common shares. These dividends will be payable on November 1, 2024, to shareholders of record as of October 15, 2024. Bel Fuse currently has approximately 12,549,000 common shares outstanding, consisting of 2,116,000 Class A common shares and 10,433,000 Class B common shares.

Bel Fuse (Nasdaq: BELFA, BELFB) announced its Q2 2024 financial results with net sales of $133.2 million, down from $168.8 million in Q2-23. The company reported a gross profit margin of 40.1%, compared to 32.9% in Q2-23. Net earnings were $18.8 million, a decrease from $27.8 million in the same quarter last year. Adjusted EBITDA stood at $27.4 million (20.6% of sales) versus $28.6 million (17.0% of sales) in Q2-23.

Bel repurchased 126,552 shares at a cost of $7.9 million. Q3 2024 guidance expects net sales between $118-$126 million and gross margins of 34-36%. CFO Farouq Tuweiq cited trade restrictions and continued softness in networking and distribution as factors affecting future performance. The company anticipates positive momentum towards the end of 2024.

Bel Fuse announced plans to release its second-quarter 2024 financial results on July 24, 2024, after market close. The company will hold an earnings conference call on July 25, 2024, at 8:30 a.m. ET to discuss these results. The call can be accessed via phone or online, with replay options available until August 25, 2024. This announcement will provide insights into the company's financial performance and potentially influence its stock performance (Nasdaq: BELFA).

Bel Fuse announced the retirement of Dennis Ackerman, President of Bel Power Solutions and Protection, effective July 31, 2024, after 37 years of service. Steve Dawson, currently Vice President of Marketing and Business Development for the Power segment, will succeed Ackerman starting July 1, 2024. Ackerman has substantially contributed to Bel since joining in 1986, holding various leadership roles and driving acquisitions and growth. CEO Daniel Bernstein commended Ackerman's dedication and expressed confidence in Dawson's ability to lead the segment to long-term success. Dawson brings over 25 years of experience in power and circuit protection, previously working with Cooper Industries, Power-One, and ABB.