Acquisition Details - Bel Fuse Inc. acquires an 80% stake in Enercon Technologies for $320 million in cash, with potential earnout payments of up to $10 million for 2025-2026, and plans to acquire the remaining 20% by early 2027[1] - The transaction is expected to be completed by the end of 2024, subject to customary closing conditions and regulatory approvals[2] - Bel will finance the acquisition through a combination of cash on hand and an expansion of its existing credit facility[4] Financial Impact and Margins - The acquisition expands Bel's exposure to the aerospace and defense end market from 17.5% to 31% of total revenue based on LTM Q2 2024[2] - Enercon's gross margin is 46.0% and Adjusted EBITDA margin is 32.5% for LTM Q2 2024, which is ahead of Bel's historical margin profile[2] - The transaction is expected to be accretive to Bel's GAAP EPS within one-year post-close and to Bel's non-GAAP EPS on Day 1[2] - Bel's Power segment revenue from aerospace and defense end markets will increase to 30%, and approximately 37% of consolidated Bel revenue will support these markets[3] - Enercon's LTM Q2 2024 sales are $111 million with a gross profit margin of 46%[5] - Bel expects net leverage to be under 2.0x within one quarter from close as T-bills mature[2] Operational Expansion - The acquisition will expand Bel's manufacturing footprint into India and the U.S., and add new manufacturing capabilities and engineers in Israel[2] Financial Performance (Bel Fuse Inc.) - GAAP Net sales for the trailing 12-month period ended June 30, 2024, were $559.987 million[16] - GAAP Net earnings for the trailing 12-month period ended June 30, 2024, were $66.164 million[16] - EBITDA for the trailing 12-month period ended June 30, 2024, was $96.176 million, representing 17.2% of net sales[16] - Adjusted EBITDA for the trailing 12-month period ended June 30, 2024, was $105.750 million, representing 18.9% of net sales[16] - Restructuring charges for the trailing 12-month period ended June 30, 2024, were $6.602 million[16] Financial Performance (Enercon Technologies) - Enercon's GAAP Net sales for the period ended 2024 were $110.684 million[16] - Enercon's GAAP Net earnings for the period ended 2024 were $24.587 million[16] - Enercon's EBITDA for the period ended 2024 was $35.922 million, representing 32.5% of net sales[16] - Enercon's forecasted GAAP Net sales for the full year 2024 are $120 million[16] - Enercon's forecasted EBITDA for the full year 2024 is $38.489 million, representing 32.1% of net sales[16]

Revenue Distribution - Revenue distribution for the six months ended June 30, 2024: 45% from Power Solutions and Protection, 43% from Connectivity Solutions, and 12% from Magnetic Solutions[115] Connectivity Solutions Performance - Connectivity Solutions sales increased by $3.0 million (5.4%) and $3.9 million (3.6%) during the three and six months ended June 30, 2024, respectively, compared to 2023[121] - Gross margin for Connectivity Solutions improved to 38.9% in Q2 2024 from 37.4% in Q2 2023, driven by pricing actions and operational efficiencies[120][121] Power Solutions and Protection Performance - Gross margin for Power Solutions and Protection improved to 45.7% in Q2 2024 from 35.7% in Q2 2023, driven by strategic pricing actions and favorable exchange rates[120][131] SG&A Expenses - SG&A expenses decreased to $49.1 million in the first half of 2024 from $50.4 million in the first half of 2023, primarily due to lower legal and professional fees[124] Accounts Receivable and Inventory - Accounts receivable decreased by $2.8 million in the six months ended June 30, 2024, due to lower sales volume, with DSO remaining at 55 days[127] - Inventory decreased by $8.0 million at June 30, 2024, compared to December 31, 2023, with inventory turns at 2.8 compared to 3.1[127] Credit Facility and Debt Covenants - Unused credit available under the credit facility at June 30, 2024, was $115.0 million, with compliance maintained on debt covenants[128] Foreign Exchange Impact - Foreign exchange transactional gains of $0.4 million were realized in the six months ended June 30, 2024, compared to losses of $0.5 million in the same period of 2023[134] Tax Rate Fluctuations - The company's effective tax rate fluctuates based on geographic regions, with Asia having the lowest tax rates among the U.S., Europe, and Asia[125]

Bel Fuse Inc. (NASDAQ:BELFB) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET Company Participants Jean Marie Young - MD, Three Part Advisors Daniel Bernstein - President and CEO Lynn Hutkin - VP of Financial Reporting and IR Farouq Tuweiq - CFO Conference Call Participants Bobby Brooks - Northland Capital Markets Theodore O'Neill - Litchfield Hills Research James Ricchiuti - Needham & Company Hendi Susanto - Gabelli Funds Operator Good morning and welcome to the Bel Fuse Second Quarter 2024 Earnin ...

ESS Tech, Inc.'s revenues are expected to be $3.24 million, up 14.5% from the year-ago quarter. While Bel Fuse has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have ch ...

Class A Common Stock ($0.10 par value)BELFA Nasdaq Global Select Market FORM 10-Q BEL FUSE INC. (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (201) 432-0463 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit ...

Bel Fuse Inc. (NASDAQ:BELFB) Q1 2024 Earnings Conference Call April 26, 2024 8:30 AM ET Company Participants Jean Marie Young - Managing Director, Three Part Advisors Daniel Bernstein - President and Chief Executive Officer Lynn Hutkin - Vice President of Financial Reporting and Investor Relations Farouq Tuweiq - Chief Financial Officer Conference Call Participants Theodore O'Neill - Litchfield Hills Research James Ricchiuti - Needham & Company Hendi Susanto - Gabelli Funds Robert Brooks - Northland Capital ...

Bel Fuse (BELFB) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.04 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.15%. A quarter ago, it was expected that this maker of electronic products for circuits would post earnings of $1.44 per share when it actually produced earnings of $1.37, delivering a surprise of -4.86%.Over the last ...

Bel has scheduled a conference call for 8:30 a.m. ET on Friday, April 26, 2024 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 ca ...

Item 1A. Risk Factors Our global operations and demand for our products face risks related to health epidemics such as the coronavirus. The PRC government has broad authority and discretion to regulate the economy, manufacturing, industry, and the technology sector, among other areas generally. As a result, our activities and operations in the PRC as well as those of our PRC-based suppliers are subject to extensive local government regulation. Additionally, the PRC government has implemented policies from t ...

In the latest trading session, Bel Fuse (BELFB) closed at $55.35, marking no change from the previous day. This change was narrower than the S&P 500's 1.02% loss on the day. On the other hand, the Dow registered a loss of 1.04%, and the technology-centric Nasdaq decreased by 1.65%.The the stock of maker of electronic products for circuits has fallen by 16.83% in the past month, lagging the Computer and Technology sector's gain of 3.72% and the S&P 500's gain of 3.64%.The investment community will be paying ...