Bel Fuse (BELFB) to Report Q3 Earnings: What's in the Cards?
Bel Fuse BELFB is scheduled to release its third-quarter 2023 results on Oct 25.
For the quarter, Bel Fuse expects revenues between $157 million and $165 million.
The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $158 million, suggesting a decline of 11.11% from the figure reported in the year-ago quarter.
The consensus mark for third-quarter earnings has remained unchanged at $1.19 per share in the past 30 days, indicating a fall of 19.59% from the figure reported in the year-ago quarter.
Bel Fuse Inc. Price and EPS Surprise
Bel Fuse Inc. price-eps-surprise | Bel Fuse Inc. Quote
Bel Fuse’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 73.04%.
Let us see how things are shaping up for Bel Fuse prior to this announcement.
Factors at Play
Bel Fuse’s third-quarter 2023 results are expected to benefit from strength in end customer demand. It has been benefiting from the rising adoption of its solutions in certain end markets, including commercial air, military and e-mobility.
The Magnetics segment revenues are expected to have improved in the to-be-reported quarter.
The easing of component availability and normalizing lead times are expected to have reduced the overall backlog in the to-be-reported quarter. Bel Fuse’s overall backlog declined by 20% sequentially to $450 million in second-quarter 2023.
Bel Fuse’s expanding product portfolio, increasing demand and a favorable shift in product mix are expected to have bolstered its top-line growth in the third quarter of 2023.
Key Quarter Developments
During the to-be-reported quarter, Bel Fuse announced the divestiture of Stewart Czech business to PEI-Genesis as part of its broader focus strategy.
This divestment allows the Connectivity Solutions group to focus on its core product categories serving customer end markets such as commercial air, defense, industrial and networking that better align with its long-term growth objectives.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
Bel Fuse has an Earnings ESP of +0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy GDDY has an Earnings ESP of +14.09% and sports a Zacks Rank of 1, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
GoDaddy shares have returned 0.9% year to date. GDDY is set to report its third-quarter 2023 results on November 2.
Cognizant Technology Solutions CTSH has an Earnings ESP of +1.59% and a Zacks Rank #2
Cognizant Technology Solutions shares have gained 14.4% year to date. CTSH is set to report its third-quarter 2023 results on November 1.
ETSY ETSY has an Earnings ESP of +37.71% and a Zacks Rank #2.
ETSY shares have declined 45.4% year to date. ETSY is set to report its third-quarter 2023 results on November 1.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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