Exhibit 99.1 Bel Fuse Inc. 300 Executive Drive Suite 300 West Orange, NJ 07052 www.belfuse.com tel 201.432.0463 Bel Reports Third Quarter 2024 Results Sales and Gross Margin Percentage Above Mid-Point of Expected Ranges Provides Q4-24 Sales and Gross Margin Guidance WEST ORANGE, NJ, Wednesday, October 23, 2024-- Bel Fuse Inc. (Nasdaq: BELFA and BELFB) today announced preliminary financial results for the third quarter of 2024. Third Quarter 2024 Highlights • Net sales of $123.6 million compared to $158.7 mi ...

WEST ORANGE, N.J., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bel Fuse Inc. (Nasdaq: BELFA and BELFB), a designer, manufacturer, and provider of products that power, protect and connect electronic circuits, today announced plans to release preliminary financial results for the third quarter after market close on Wednesday, October 23, 2024. An earnings conference call has been scheduled as follows: When: Thursday, October 24, 2024 at 8:30 a.m. ET Dial in: 877.407.0784, or international: 201.689.8560 Online: https:// ...

Bel Fuse (BELFB) shares ended the last trading session 16.5% higher at $80.93. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.9% gain over the past four weeks. Belfuse is benefiting from an expanding product portfolio, increasing end-customer demand and a favorable product mix. This maker of electronic products for circuits is expected to post quarterly earnings of $0.85 per share in its upcoming report, which r ...

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]

Financial Data and Key Metrics Changes - Sales for Q2 2024 were $133.2 million, representing a 21.1% decline compared to Q2 2023 [6][12] - Gross margin increased to 40.1% in Q2 2024, up from 32.9% in Q2 2023 [6][12] - Cash and securities at the end of the quarter were $143.8 million, an increase of $16.9 million year-to-date [13] Business Line Data and Key Metrics Changes - Power solutions and protection sales were $58.6 million, a 32.8% decline year-over-year, primarily due to lower sales in networking and consumer applications [7][8] - Connectivity solutions sales increased to $57.8 million, up 5.4% year-over-year, driven by growth in the distribution channel [9][10] - Magnetic solutions sales decreased to $16.8 million, a 37.3% decline year-over-year, aligned with expectations due to lower shipments to a large networking customer [11] Market Data and Key Metrics Changes - The backlog of orders was $304 million as of June 30, 2024 [12] - Sales into commercial air applications amounted to $15.4 million, while military applications totaled $12 million for Q2 2024 [38] Company Strategy and Development Direction - The company is focusing on AI and e-mobility as long-term growth drivers, with a new president for Power Solutions and Protection appointed to lead these initiatives [5][6] - The company is actively evaluating M&A opportunities to support growth strategies [18] Management's Comments on Operating Environment and Future Outlook - Management anticipates a slight downward shift in sales for Q3 2024, projecting sales in the range of $118 million to $126 million compared to $159 million in Q3 2023 [14] - The company is experiencing destocking in networking and distribution, which has been an ongoing factor impacting sales [14][15] - Management expressed optimism about the potential for growth in AI and rail markets, despite challenges in other segments [22][15] Other Important Information - The company has continued its $25 million stock buyback program, purchasing a total of $14.2 million worth of shares as of June 30, 2024 [6] - The class A stock was added to the Russell 2000 Index, marking a significant milestone for the company [6] Q&A Session Summary Question: Insights on emerging opportunities in AI and EV - Management sees the power segment as the biggest beneficiary of AI, with expectations for sequential growth in AI customer orders [21] Question: Update on growth-focused sales initiatives - Early signs are optimistic, with increased activity and quoting in Europe since the new sales structure was implemented [25][26] Question: Impact of trade restrictions on supplier - Management is taking a conservative approach, assuming no sales from the affected supplier in Q3 2024, with potential for upside if new suppliers are onboarded quickly [30] Question: Granularity on the power segment's performance - The power segment is expected to benefit from growth in data centers and e-mobility, focusing on niche markets rather than hyperscalers [34] Question: Pricing environment and gross margins - There has been little price pressure in the current down market, with a focus on inventory management rather than pricing [36] Question: Trends in military and commercial airspace markets - Revenue for commercial air was $15.4 million, and military was $12 million in Q2 2024 [38] Question: Recovery outlook - Management is cautious, noting that recovery timelines are often projected as six months but can vary significantly [42][44]

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 ...