BEL FUSE INC /NJ (BELFA) Company Report

Bel Fuse Inc. anticipates recording a pre-tax impairment charge of up to approximately $14 million in the fourth quarter of 2025 due to the potential full loss of its investment in Innolectric AG and related notes receivable.
This charge follows the initiation of insolvency proceedings by Innolectric AG, a Germany-based e-Mobility technology company, on November 26, 2025.
Bel acquired a noncontrolling one-third minority stake in Innolectric in February 2023 but decided against further investment due to persistent weakness in the global electric vehicle sector and continued operating losses for Innolectric.
Bel had previously recorded losses of $0.4 million from its Innolectric interest for the nine months ended September 30, 2025, and $0.6 million for the year ended December 31, 2024.

Dec 3, 2025, 6:43 PM

8-K

Bel Fuse Inc. Reports Strong Third Quarter 2025 Results and Provides Q4 Guidance

BELFA

Earnings

Guidance Update

Revenue Acceleration/Inflection

Bel Fuse Inc. reported net sales of $179.0 million for the third quarter of 2025, marking a 44.8% increase from $123.6 million in Q3 2024.
The company's gross profit margin improved to 39.7% in Q3 2025, up from 36.1% in Q3 2024.
GAAP net earnings attributable to Bel shareholders rose significantly to $22.3 million in Q3 2025, compared to $8.1 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $39.2 million (21.9% of sales), an increase from $21.5 million (17.4% of sales) in Q3 2024.
For Q4 2025, Bel Fuse Inc. estimates net sales between $165 million and $180 million and expects gross margin to be in the 37% to 39% range.

Oct 29, 2025, 8:24 PM

8-K

Bel reports strong Q3 2025 results and provides Q4 guidance

BELFA

Earnings

Guidance Update

Revenue Acceleration/Inflection

Bel Fuse Inc. announced preliminary net sales of $179.0 million for the third quarter of 2025, marking a 44.8% increase from Q3 2024.
The company achieved a gross profit margin of 39.7% and GAAP net earnings attributable to Bel shareholders of $22.3 million in Q3 2025.
Adjusted EBITDA for Q3 2025 was $39.2 million, which is 21.9% of sales.
For the fourth quarter of 2025, Bel estimates net sales to be between $165 to $180 million and expects the gross margin to be in the 37 to 39 percent range.

Oct 29, 2025, 8:15 PM

Press Release

BEL FUSE Inc. Announces Key Management and Board Changes

BELFA

CEO Change

CFO Change

Board Change

Management transitions effective May 27, 2025: Farouq Tuweiq is promoted from CFO to President and CEO, Daniel Bernstein becomes non-executive Chairman, and Lynn Hutkin is named CFO and Principal Accounting Officer.
The 2025 Annual Meeting also resulted in an expanded Board to ten directors with Mr. Tuweiq joining the Board and Executive Committee.
Shareholders approved key proposals including director elections, auditor ratification, and executive compensation, with detailed vote outcomes recorded.

May 28, 2025, 12:00 AM

8-K

Bel Fuse Announces Leadership and Board Changes

BELFA

CEO Change

CFO Change

Board Change

Bel Fuse announced significant leadership changes, with CFO Farouq Tuweiq elevated to President and CEO effective after the 2025 Annual Meeting, and Ms. Hutkin appointed as the new CFO, including details of her employment agreement and compensation package.
The board approved an expansion to ten directors and enhanced the Executive Committee by adding Mr. Tuweiq, reflecting a broader governance update.
Detailed executive compensation provisions were disclosed, covering base salary, variable pay, long-term performance awards, and severance benefits under the new employment agreements.

May 21, 2025, 12:00 AM

8-K

Bel Fuse Inc Q1 2025 Earnings Results

BELFA

Earnings

M&A

Revenue Acceleration/Inflection

Total revenue reached $152.2 million, reflecting an 18.9% increase year-over-year with the A&D segment contributing 38% of global sales.
The Magnetics and Connectivity Solutions segments delivered strong double-digit growth, while AI and Space showed robust performance ($4.6M and $2.3M respectively), offsetting declines in consumer, e-mobility, and rail markets.
Gross margins improved to 38.6% in Q1 2025 from 37.5% in Q1 2024, driven by favorable product mix and cost efficiency initiatives despite challenges from tariffs.
The recent acquisition of Enercon is performing well, further diversifying the business and generating optimism for future revenue synergies in defense and beyond.

Apr 25, 2025, 12:31 PM

Transcript

Bel Fuse Reports Q1 2025 Results and Announces CEO Transition

BELFA

Earnings

CEO Change

Guidance Update

Q1 2025 Highlights: Reported net sales of $152.2 million, GAAP net earnings of $17.9 million, and an improved gross margin of 38.6% with Adjusted EBITDA of $30.9 million.
Q2 Guidance: Projected net sales are estimated between $145–$155 million with gross margins expected between 37–39%, factoring in potential impacts from China-related tariffs.
Management Update: Farouq Tuweiq has been appointed as the new President and CEO, effective following the Annual Meeting in May 2025.