Filing Flows › BEL Fuse (BELFA) › Q1 2025
BEL Fuse (BELFA) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
BEL Fuse (BELFA) reported revenue of $152M for the first quarter 2025 (Q1 2025), +19% from a year earlier and +2% from the quarter before. Operating margin was 16.4%, net earnings $17.9M (11.7% of revenue).
BEL Fuse, Q1 2025: revenue $152M (+19% year over year), operating margin 16.4%, net earnings $17.9M, operating cash flow $8.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $152M | +2% | +19% |
| Gross profit | $58.8M | +5% | +22% |
| Operating profit | $25.0M | +102% | +40% |
| Net earnings | $17.9M | — | +13% |
| Operating cash flow | $8.1M | -2% | +32% |
| Free cash flow | $5.4M | +150% | +66% |
What changed
Revenue was $152.2M in Q1 2025, up 19% year over year and up 2% from the previous quarter. Power Solutions and Protection was the largest line at 55% of revenue. Power Solutions and Protection added $22.8M year over year (up 38%), 94% of the total change. Connectivity Solutions declined 7%.
Gross margin was 38.6%, up 1.1 points from a year earlier. Operating profit was $25.0M, a 16.4% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 14% margin then. Operating expenses grew 12% against revenue growth of 19%. Net earnings were $17.9M, up 13% year over year. The effective tax rate was 23.0%.
Operating cash flow was $8.1M (up 32% year over year), 44% of net income including minority interests. Non-cash charges added back $6.7M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $18.0M. Capital expenditures of $2.8M left free cash flow of $5.4M.
Questions
What was BEL Fuse's revenue in the first quarter 2025?
BEL Fuse (BELFA) reported revenue of $152M for the first quarter 2025 (Q1 2025), +19% from a year earlier and +2% from the quarter before.
Was BEL Fuse profitable in the first quarter 2025?
Operating profit was $25.0M (16.4% of revenue) and net earnings $17.9M.
Source: BEL Fuse 10-Q on SEC EDGAR.