Bel Fuse-B | 10-Q: FY2025 Q3 Revenue: USD 178.98 M

Revenue: As of FY2025 Q3, the actual value is USD 178.98 M.

EPS: As of FY2025 Q3, the actual value is USD 1.77.

EBIT: As of FY2025 Q3, the actual value is USD 33.73 M.

Power Solutions and Protection

Revenue: $94.4 million for Q3 2025, up from $48.7 million in Q3 2024. $264.3 million for the nine months ended September 30, 2025, up from $167.5 million in the same period in 2024.
Gross Margin: 41.8% for Q3 2025, up from 39.4% in Q3 2024. 42.1% for the nine months ended September 30, 2025, down from 43.2% in the same period in 2024.

Connectivity Solutions

Revenue: $61.9 million for Q3 2025, up from $55.7 million in Q3 2024. $171.8 million for the nine months ended September 30, 2025, up from $167.8 million in the same period in 2024.
Gross Margin: 40.3% for Q3 2025, up from 36.6% in Q3 2024. 39.2% for the nine months ended September 30, 2025, up from 37.3% in the same period in 2024.

Magnetic Solutions

Revenue: $22.7 million for Q3 2025, up from $19.2 million in Q3 2024. $63.5 million for the nine months ended September 30, 2025, up from $49.6 million in the same period in 2024.
Gross Margin: 29.0% for Q3 2025, up from 27.3% in Q3 2024. 27.7% for the nine months ended September 30, 2025, up from 23.9% in the same period in 2024.

Operational Metrics

Net Income: $22.3 million for Q3 2025, up from $8.1 million in Q3 2024. $67.0 million for the nine months ended September 30, 2025, up from $42.8 million in the same period in 2024.
Operating Profit: $30.3 million for Q3 2025, up from $11.4 million in Q3 2024. $85.2 million for the nine months ended September 30, 2025, up from $51.9 million in the same period in 2024.
Operating Margin: 16.9% for Q3 2025, up from 9.3% in Q3 2024. 17.1% for the nine months ended September 30, 2025, up from 13.5% in the same period in 2024.
R&D Costs: $7.5 million for Q3 2025, up from $5.4 million in Q3 2024. $22.9 million for the nine months ended September 30, 2025, up from $16.7 million in the same period in 2024.
SG&A Expenses: $32.8 million for Q3 2025, up from $26.7 million in Q3 2024. $93.2 million for the nine months ended September 30, 2025, up from $75.8 million in the same period in 2024.
Interest Expense: $3.6 million for Q3 2025, up from $0.4 million in Q3 2024. $11.8 million for the nine months ended September 30, 2025, up from $1.3 million in the same period in 2024.
Interest Income: $0.2 million for Q3 2025, down from $1.5 million in Q3 2024. $0.8 million for the nine months ended September 30, 2025, down from $3.7 million in the same period in 2024.
Other Income (Expense), Net: $1.1 million for Q3 2025, compared to - $1.3 million in Q3 2024. $11.3 million for the nine months ended September 30, 2025, compared to less than $0.1 million in the same period in 2024.
Provision for Income Taxes: $5.4 million for Q3 2025, up from $3.1 million in Q3 2024. $17.8 million for the nine months ended September 30, 2025, up from $11.7 million in the same period in 2024.

Cash Flow

Operating Cash Flow: $51.0 million for the nine months ended September 30, 2025, down from $65.7 million in the same period in 2024.
Free Cash Flow: - $10.5 million for the nine months ended September 30, 2025, down from $44.9 million in the same period in 2024.

Future Outlook and Strategy

Core Business Focus: The company plans to continue leveraging its recent acquisition of Enercon to drive growth in the aerospace and defense markets. The backlog of orders increased by 9% from December 31, 2024, to September 30, 2025, indicating strong demand across all segments.
Non-Core Business: The company is exploring potential divestitures and strategic partnerships to optimize its portfolio and focus on high-growth areas.
Priority: Emphasis on managing inflationary pressures, labor costs, and foreign currency fluctuations to maintain profitability. The company is also focused on mitigating the impact of global tariffs and supply chain disruptions.