BELFB · Bel Fuse Inc.

Bel Fuse Inc. announced strong first quarter 2026 results, with net sales rising 17.2% year-over-year to $178.5 million. This growth was attributed to broad-based momentum, favorable product mix, and disciplined execution. Gross profit margin improved to 39.0% from 38.6% in the same period last year. While GAAP net earnings attributable to Bel shareholders decreased to $11.4 million from $17.9 million, Non-GAAP net earnings increased significantly to $22.8 million from $16.8 million in the prior year. Adjusted EBITDA for the quarter was $34.5 million, or 19.3% of sales, compared to $30.9 million, or 20.3% of sales, in Q1-25.

During the quarter, the Company completed a business unit realignment intended to enhance its go-to-market strategy and expand product offerings. Management highlighted specific organic growth initiatives, including progress on new defense design contracts in Europe and a bundled agreement in the U.S. within the Aerospace Defense & Rugged Solutions business. The Industrial Technology & Data Solutions segment experienced healthy demand, particularly in datacenter connectivity and high-performance compute linked to AI-driven investment. The acquisition of dataMate in March 2026 was noted as a strategic addition to expand data solutions capabilities.

Looking forward, President and CEO Farouq Tuweiq provided guidance for the second quarter of 2026, projecting sales in the range of $195 million to $215 million and gross margin between 38% and 40%. This outlook is supported by robust bookings and anticipated higher demand from defense, commercial air, space, and data solutions customers.