Q2 2026 Bel Fuse Inc Earnings Call Transcript

Jul 30, 2026 / 12:30 PM GMT

Transcript 8-K

Key Points

Positve

Total sales increased 25% year-over-year to $210.7 million, driven by broad-based growth in defense and data solutions.
Gross margin expanded 120 basis points to 39.9%, reflecting operational leverage from higher volume and improved execution.
Adjusted EBITDA rose 39% to $48.9 million, with margin improving to 23.2% from 20.9%.
Bel Fuse Inc (BELFA) achieved a key milestone with its Slovakia facility gaining European defense manufacturer certification, leading to 8 new project wins.
The company completed an equity raise, paying off all debt and ending the quarter with $306.1 million in cash, significantly improving liquidity.

Negative

Gross margin in the ADRS segment declined slightly to 41.1% from 41.4% due to foreign exchange and material cost pressures.
Higher material costs and unfavorable foreign exchange impacts partially offset operating leverage benefits.
SG&A expenses increased by $5.4 million year-over-year due to higher compensation, benefits, and non-recurring professional fees.
Working capital increased significantly, with accounts receivable and inventories each rising by $32 million to support growth.
Inventory turns are expected to remain challenged in the near term as the company builds stock to meet growth projections.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BELFA.OQ - Bel Fuse Inc
Q2 2026 Bel Fuse Inc Earnings Call
Jul 30, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Belle second quarter 2026 earnings call at this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

If anyone should require operator assistance during the conference, please press 0 on your telephone keypad, as a reminder, this call is being recorded.

I would now like to turn the call over to Jean Marie Young with 3 part advisors.

Please go ahead.

Thank you, Dylan, and good morning everyone.

Before we begin, I'd like to remind everyone that during today's conference call, we will make statements relating to our business that will be considered forward-looking statements under federal securities

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