$240.710
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Noticias de BELFB
Eventos de BELFB
Bel Reports Q2 Revenue of $210.69M, Beating Consensus
Reports Q2 revenue $210.69M, consensus $206.64M. Farouq Tuweiq, President and CEO of Bel, said, "We delivered a very strong second quarter, with sales and gross margin toward the high end of our estimated ranges, driven by defense and data solutions demand and continued distribution recovery. The quarter also included several operational milestones: DataMate completed its facility transition and ERP conversion, and our Slovakia site achieved defense-manufacturer qualification to support the Enercon integration and European expansion. In addition, the team completed an equity offering, raising net proceeds of $441.6 million to pay down debt and support the remaining 20% of Enercon in early 2027, as well as future M&A and growth initiatives."
Deal Size Increased to 1.5M Shares, Priced Below $266.92
The deal size was increased to 1.5M shares from 1.3M and priced below last closing price of $266.92. Citi, BofA and Wells Fargo are acting as joint book running managers for the offering.
Bel Fuse Files Automatic Mixed Securities Shelf
Bel Fuse files automatic mixed securities shelf
Bel Fuse Commences Offering of 1.3M Shares of Class B Common Stock
Bel Fuse announced the commencement of an underwritten offering of 1.3M shares of its Class B common stock. Citigroup, BofA Securities, and Wells Fargo Securities are acting as joint book-running managers for the proposed offering.
Bel Fuse Acquires dataMate from Methode Electronics for $16M
Bel Fuse (BELFA) announced the acquisition of dataMate from Methode Electronics (MEI). Bel acquired dataMate for $16M, including $1M of deferred consideration. With annual sales of approximately $18M and operating margins in line with Bel's corporate averages, the dataMate acquisition is expected to be immediately accretive to Bel's financials. The initial consideration of $15M was funded with a combination of cash on hand and borrowings from the company's existing revolving credit facility.
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