Apr. 24 at 10:12 PM
$BELFA Bel Fuse reports Q1 non-GAAP EPS
$1.61 vs.
$1.70 last year
Reports Q1 revenue
$152.24M, consensus
$147.93M. "We are pleased with our Q1 quarter results, which benefitted from our increased exposure within the defense and commercial aerospace industries and strength in the emerging AI end market," said Daniel Bernstein, CEO. "These factors helped to mitigate the seasonality around Chinese New Year which has historically dictated the trend for our Q1. Looking ahead at our underlying business demand, we generally expect continued strength in the defense, space and AI end markets throughout the year, which are anticipated to mitigate lower volumes going into the rail, e-Mobility and consumer markets".
CFO Farouq Tuweiq added, "Looking to Q2, we are operating in a highly dynamic environment and there is difficulty in predicting the moving target of tariffs and assessing the corresponding impact given ongoing and potential future changes...we estimate that approximately 75% of our global sales are not currently subject to the recent U.S. tariffs that have been imposed. We estimate that ~10% of our consolidated sales relate to product that is manufactured in China and shipped into the U.S., and this is the subset of our revenue where certain customers have requested a pause on orders while the supply chain awaits additional clarity on the longer-term tariff policy with China.
GAAP net sales in Q2 2025 are projected to be
$145M-
$155M, with gross margin in the range of 37%-39%. This guidance for Q2 has been modified downward to take into account approximately
$8M-
$10M of what we believe is a reasonable allowance for potential downside impact from China-related tariffs and a lower expected volume of intraquarter turns. The team will continue to closely monitor the evolving tariff landscape and assess potential alternatives that are within our control."
