Bel Fuse posts record quarterly sales of $220.5 million, up 23.2%
Key Facts
Bel Fuse reported preliminary third-quarter 2026 results on October 28, with sales of $220.5 million, up 23.2% from $179.0 million in the year-earlier period. The figures showed revenue growth and improved margins and earnings, while the company said data solutions, the industrial market and distribution partners drove performance. Gross margin was 40.9%, compared with 39.7% a year earlier. Net income attributable to the company’s shareholders under GAAP rose to $26.3 million from $22.3 million. Chief Executive Farooq Tufail said performance was "driven by the data solutions segment, the industrial market, and through our distribution partners."
Industrial technology and data solutions stood out as the faster-growing of the company’s two segments, with sales rising 37.8% to $113.914 million in the third quarter. By comparison, sales in the aerospace and defense and rugged solutions segment increased 10.7% to $106.596 million. The figures reflect growth across both businesses, with a clear lead for the technology and data-related segment. Tufail had pointed to momentum in key markets and the company’s focus on enterprise-level execution. In the second quarter, sales were $210.7 million, up 25.1% year over year, while gross margin reached 39.9%.
Profitability metrics improved alongside sales growth. GAAP net income was about $26.3 million, while Non-GAAP net income reached $44.0 million, compared with $26.3 million a year earlier. Non-GAAP diluted earnings per share were $2.92 for Class A and $3.07 for Class B, while GAAP diluted earnings per share were $1.74 for Class A and $1.83 for Class B. Adjusted EBITDA rose to $52.5 million, or 23.8% of sales, from $39.2 million and 21.9% of sales in the third quarter of 2025. These measures present two different accounting views of the results, so the company distinguishes between adjusted figures and those reported under GAAP.
In July, the company had set a third-quarter sales range of $205 million to $225 million and a gross margin range of 39% to 41%. Reported sales of $220.5 million fell within the previous guidance, as did gross margin of 40.9%. In the second quarter, gross margin was 39.9%, marking a quarter-on-quarter improvement in the metric. An earlier preview of the results said investors were watching the company’s ability to sustain growth as demand increased for AI connectors and data centers. Tufail linked the quarter’s results to momentum in key markets, alongside contributions from data solutions, industrial activity and distribution partners.
Bel Fuse issued a fourth-quarter sales range of $220 million to $240 million, with an expected gross margin of 40.0% to 42.0%. The low end of the sales range is above the low end of the third-quarter guidance issued in July, while the margin forecast includes a level close to the third-quarter result. The company scheduled a call to discuss the results for October 29, 2026, at 8:30 a.m. U.S. Eastern time. BELFA shares closed at $176.02 on October 27, after closing at $166.51 on October 26, $160.80 on October 23, $161.69 on October 22 and $176.83 on October 21. The company said its 2026 figures in the announcement are preliminary and subject to change before it files its quarterly Form 10-Q with the U.S. Securities and Exchange Commission.