News

Jul 23, 2023

BEL Fuse Inc Cl B Down 4.97% To $56.01 After Earnings Beat

Bel Fuse Inc Class B (BELFB) beat out earnings estimates for Q2 2023 this afternoon.BEL Fuse Inc Cl B's earnings came in at an EPS of $1.99 per share, 62.00% higher than estimates for an EPS of $1.23

Bel Fuse Inc Class B (BELFB) beat out earnings estimates for Q2 2023 this afternoon.BEL Fuse Inc Cl B's earnings came in at an EPS of $1.99 per share, 62.00% higher than estimates for an EPS of $1.23 per share. The firm's earnings are up 44% since reporting $1.38 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.Revenues were upbeat at $168.8 million. That represents a 1.05% decrease in revenues from the year-ago report and is 1.52% higher than consensus estimates set at $166.3 million. The stock is down 4.97% to $56.01 after the report.The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.Prior to the report, InvestorsObserver gave the stock an overall score of 69. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.Bel Fuse Inc designs and manufactures electronic components that protect and connect electronic circuits. Its product portfolio is divided into three categories namely, magnetic solutions, power solutions and protection, and connectivity solutions. These products are used for the computer, networking, telecommunications, transportation and defense/aerospace, automotive, medical and consumer electronics industries. Its segments consist of North America, Asia, and Europe with most of the revenues derived from North America.