EarningsQ3 2026 Earnings Report
DE:BF2B Q3 2026 EPS Results
Actual EPS€2.74
Consensus EPS€2.44
Beat/MissBeat by +€0.30
One Year Ago EPS€1.87
DE:BF2B Q3 2026 Revenue Results
Actual Revenue€196.78M
Expected Revenue€192.53M
Beat/MissBeat by +€4.25M
YoY Revenue Growth+23.20%
Earnings Announcement Details
QuarterQ3 2026
Date10/28/2026
TimeAfter Close
Conference CallWednesday, October 28, 2026
DE:BF2B Upcoming Earnings
Bel Fuse Inc's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:BF2B Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, supported by 23.2% year-over-year revenue growth, record bookings and A&D backlog, higher adjusted EBITDA and margins, strong data solutions and AI-related demand, a favorable fourth-quarter outlook, and continued progress in operational and growth initiatives. The company continues to face material-cost inflation, foreign-exchange pressure, higher operating expenses, inventory-turn challenges, shipment timing issues in commercial aerospace, and global supply-chain uncertainty, but management described demand as robust and execution as strong.Company Guidance
Strong Third-Quarter Revenue Growth
Third-quarter sales were $220.5 million, up 23.2% year over year, with double-digit revenue growth across both segments. Growth was led by data solutions and industrials, with additional contribution from increased activity through distribution partners.
Improved Gross Margin and Adjusted EBITDA
Gross margin was 40.9%, up 120 basis points year over year, driven primarily by operating leverage from higher volumes, pricing, and stronger execution. Adjusted EBITDA increased approximately 34% to $52.5 million from $39.2 million, while adjusted EBITDA margin rose to 23.8% from 21.9%.
Strong Fourth-Quarter Outlook
The company expects fourth-quarter net sales of $220 million-$240 million and gross margin between 40%-42%. The outlook reflects continued momentum in data solutions, industrials, defense, and demand through distribution partners.
Record Bookings and Backlog Momentum
Bookings reached an all-time high and exceeded sales during the quarter. Management also reported record backlog orders in the A&D business and said strong bookings and demand are supporting momentum into the fourth quarter and beyond.
ADRS Segment Revenue Growth
ADRS revenue was $106.6 million, up $10.3 million or 10.7% compared with the third quarter of 2025. Growth was led by industrial applications, largely through the distribution channel, followed by defense.
ITDS Segment and Data Solutions Expansion
ITDS revenue was $113.9 million, up $31.2 million or 37.8% year over year. Data solutions revenue increased $27 million, or approximately 61%, compared with the third quarter of 2025.
AI-Focused Customer Growth
Revenue from AI-focused customers totaled approximately $12.4 million in the third quarter, an increase of $9.2 million from the prior-year quarter. Management said AI-related order activity is trending positively into the fourth quarter and next year, while noting that the disclosed amount is an AI revenue floor and does not include additional AI exposure within general data solutions customers.
DataMate Acquisition Contribution
The DataMate acquisition, completed in March 2026, contributed $4.9 million to data solutions revenue during the quarter.
ITDS Gross Margin Expansion
ITDS gross margin was 42.7%, up from 38% last year, an improvement of 470 basis points. The increase was primarily driven by higher volumes, improved utilization, and pricing actions.
Distribution and Global Channel Demand
The company reported strong end-customer demand through its distribution channel across both segments. Management said the positive channel momentum is visible in North America, EMEA, and APAC and does not appear to reflect double ordering or channel stuffing.
Growth Initiatives Beginning to Deliver Results
Management said initiatives involving customer intimacy, key-account and business-development efforts, the sales organization, go-to-market strategy, systems investments, and deeper engagement with tier-two customers have produced benefits during the first nine months. The company is also pushing sales closer to the segments to enable faster market reactions and greater accountability.
A&D Program Wins and European Expansion
The company reported additional A&D program wins during the third quarter, with management saying the number was roughly similar to the 12 wins discussed for the second quarter. A first win using Slovakia as a storefront for the connectivity business was also identified, and the company said its Slovakia and broader European efforts continue to bear fruit.
Defense Demand and Certification Progress
Management described strong defense demand across the U.S., Europe, and Israel, including replenishment needs, readiness requirements, and investment in emerging technologies. European factory certifications, customer audits, and regulatory approvals were described as largely or entirely behind the company, ahead of the initial schedule.
Operational Execution and Manufacturing Flexibility
Factories secured materials, increased manufacturing capacity, and strengthened resiliency despite global market variability and some lost productivity from summer vacations and holidays. The company said capacity is not currently a constraint and is using production transfers among facilities in Slovakia, India, Israel, China, and other locations to meet customer requirements.
Strong Cash Position
Cash and securities ended the quarter at $333.1 million, compared with $57.8 million at December 31. Management said the increase was largely the result of the equity raise completed during the second quarter and that the cash position supports growth, volatility management, and strategic opportunities.
Continued Investment in Working Capital, Capacity, and Efficiency
The company invested in working capital to support growth, spent $11 million on capital expenditures during the first nine months of 2026, and continued investing in efficiency initiatives, capacity requirements, manufacturing execution systems, automation, and factory flexibility.
Potentially Stronger-Than-Seasonal Near-Term Trends
Management said fourth-quarter demand and productivity are benefiting from strong bookings and a more favorable holiday calendar. It also indicated that the first quarter of 2027 may not follow the typical seasonal pattern because approximately half of the business is aerospace and defense and the data solutions business remains in a ramp environment.
Disciplined but Active M&A Strategy
The company remains interested in M&A and is pursuing multiple opportunities ranging from smaller to medium-sized assets. Management said it intends to remain disciplined while balancing the desire to pursue acquisitions with the need to avoid being overly conservative or overly aggressive.
DE:BF2B Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed