Bel Fuse Inc. announced preliminary financial results for the first quarter of 2025 on April 24, 2025, reporting net sales of $152.2 million, an 18.9% increase compared to Q1 2024. Net earnings attributable to Bel Fuse shareholders were $17.9 million, or $1.43 per Class B share.
The results benefited from increased exposure in the defense and commercial aerospace industries and strength in the emerging AI end market, which helped mitigate Chinese New Year seasonality. The Power Solutions and Protection segment saw revenue surge by 37.9% to $83.1 million, with Enercon contributing $32.4 million from A&D applications.
For the second quarter of 2025, Bel projects GAAP net sales in the range of $145 million to $155 million, with gross margin between 37% and 39%. This guidance was adjusted downward by $8-10 million to account for potential downside from China-related tariffs, as approximately 10% of consolidated sales relate to products manufactured in China and shipped to the U.S.
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