Core Insights - Littelfuse reported revenue of $554.31 million for the quarter ended March 2025, reflecting a 3.5% increase year-over-year and a surprise of +2.71% over the Zacks Consensus Estimate of $539.67 million [1] - The company's EPS for the quarter was $2.19, up from $1.76 in the same quarter last year, resulting in an EPS surprise of +20.33% compared to the consensus estimate of $1.82 [1] Financial Performance - Net Sales in the Industrial segment reached $85.20 million, exceeding the average estimate of $79.05 million, with a year-over-year change of +15.3% [4] - Net Sales in the Electronics segment were $307.25 million, surpassing the average estimate of $296.51 million, representing a year-over-year increase of +5.6% [4] - Net Sales in the Transportation segment totaled $161.86 million, falling short of the average estimate of $166.98 million, indicating a year-over-year decline of -5% [4] Operating Income - Operating income for the Electronics segment was reported at $46.77 million, exceeding the average estimate of $35.35 million [4] - Operating income for the Industrial segment was $13.07 million, slightly above the average estimate of $12.43 million [4] - Operating income for the Transportation segment was $18.92 million, compared to the average estimate of $17.27 million [4] Stock Performance - Littelfuse shares have returned -9% over the past month, while the Zacks S&P 500 composite has changed by -0.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Company Performance - Littelfuse reported quarterly earnings of $2.19 per share, exceeding the Zacks Consensus Estimate of $1.82 per share, and up from $1.76 per share a year ago, representing an earnings surprise of 20.33% [1] - The company posted revenues of $554.31 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.71%, compared to year-ago revenues of $535.39 million [2] - Over the last four quarters, Littelfuse has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Outlook - Littelfuse shares have declined approximately 24% since the beginning of the year, while the S&P 500 has decreased by 6% [3] - The current consensus EPS estimate for the upcoming quarter is $2.38 on revenues of $580 million, and for the current fiscal year, it is $9.49 on revenues of $2.29 billion [7] - The estimate revisions trend for Littelfuse is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Electronics - Miscellaneous Components industry, to which Littelfuse belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

[Q1 2025 Earnings Release](index=1&type=section&id=LITTELFUSE%20REPORTS%20FIRST%20QUARTER%20RESULTS%20FOR%202025) [First Quarter 2025 Performance Highlights](index=1&type=section&id=First%20Quarter%202025%20Highlights) Littelfuse exceeded Q1 2025 expectations with **$554 million** net sales (+3.5% YoY) and **$2.19** adjusted diluted EPS (+24%), driven by strong segment recovery and operational execution Q1 2025 Key Financial Metrics (YoY) | Metric | Q1 2025 Value | YoY Change | | :--- | :--- | :--- | | Net Sales | $554 million | +3.5% | | Organic Growth | N/A | +2.9% | | GAAP Diluted EPS | $1.75 | -9.3% | | Adjusted Diluted EPS | $2.19 | +24% | | Free Cash Flow | $43 million | +3% | - Management highlighted that results exceeded expectations, driven by a solid demand recovery in the Electronics Segment and robust growth in the Industrial Segment, with improved bookings and strong operational performance reflected in an expanded operating margin[2](index=2&type=chunk) - The company returned **$45 million** to shareholders during the quarter through a combination of dividends and share repurchases[3](index=3&type=chunk) [Second Quarter 2025 Outlook](index=2&type=section&id=Second%20Quarter%20of%202025) For Q2 2025, Littelfuse forecasts net sales between **$565 million** and **$595 million**, with adjusted diluted EPS projected from **$2.10** to **$2.40**, and an adjusted effective tax rate of **23%** to **25%** Q2 2025 Guidance | Metric | Guidance Range | | :--- | :--- | | Net Sales | $565 - $595 million | | Adjusted Diluted EPS | $2.10 – $2.40 | | Adjusted Effective Tax Rate | 23% - 25% | [Dividend Announcement](index=2&type=section&id=Dividend) Littelfuse declared a cash dividend of **$0.70** per share, payable on June 5, 2025, to shareholders of record as of May 22, 2025 - A cash dividend of **$0.70** per share will be paid on June 5, 2025[5](index=5&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Condensed Consolidated Balance Sheets](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 29, 2025, total assets were **$3.888 billion**, cash and equivalents decreased to **$618.7 million**, and total equity increased to **$2.457 billion** Balance Sheet Highlights (in thousands) | Account | March 29, 2025 | December 28, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $618,687 | $724,924 | | Total current assets | $1,433,084 | $1,552,009 | | Total assets | $3,888,235 | $3,891,779 | | Total current liabilities | $369,567 | $433,905 | | Total liabilities | $1,431,480 | $1,478,167 | | Total equity | $2,456,755 | $2,413,612 | [Condensed Consolidated Statements of Net Income](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20NET%20INCOME) Q1 2025 net sales rose **3.5%** to **$554.3 million**, operating income surged **27.7%** to **$70.2 million**, but GAAP net income decreased **10.1%** to **$43.6 million** due to foreign exchange loss and higher taxes Q1 Income Statement Summary (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $554,307 | $535,385 | +3.5% | | Gross profit | $207,256 | $187,808 | +10.4% | | Operating income | $70,150 | $54,952 | +27.7% | | Net income | $43,571 | $48,452 | -10.1% | | Diluted EPS | $1.75 | $1.93 | -9.3% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) In Q1 2025, net cash provided by operating activities increased to **$65.8 million** from **$57.2 million** in Q1 2024, while investing activities used **$80.5 million** (due to acquisition) and financing activities used **$97.0 million**, resulting in a **$106.2 million** cash decrease Q1 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $65,758 | $57,150 | | Net cash used in investing activities | ($80,508) | ($8,483) | | Net cash used in financing activities | ($97,034) | ($33,520) | | (Decrease) increase in cash | ($106,181) | $6,597 | [Segment Performance](index=8&type=section&id=NET%20SALES%20AND%20OPERATING%20INCOME%20BY%20SEGMENT) [Net Sales and Operating Income by Segment](index=8&type=section&id=Net%20sales%20and%20Operating%20income%20by%20segment) In Q1 2025, Industrial segment sales grew **15.3%** with operating income up **172.6%**, Electronics sales rose **5.5%** with operating income up **23.7%**, while Transportation sales declined **5.0%** but operating income increased **16.7%**, with all segments showing improved margins Q1 2025 Net Sales by Segment (YoY) | Segment | Q1 2025 Net Sales (in thousands) | YoY Growth | | :--- | :--- | :--- | | Electronics | $307,249 | 5.5% | | Transportation | $161,862 | (5.0)% | | Industrial | $85,196 | 15.3% | | **Total** | **$554,307** | **3.5%** | Q1 2025 Operating Income & Margin by Segment (YoY) | Segment | Q1 2025 Operating Income (in thousands) | YoY Growth | Q1 2025 Operating Margin | Q1 2024 Operating Margin | | :--- | :--- | :--- | :--- | :--- | | Electronics | $46,766 | 23.7% | 15.2% | 13.0% | | Transportation | $18,917 | 16.7% | 11.7% | 9.5% | | Industrial | $13,074 | 172.6% | 15.3% | 6.5% | [Non-GAAP Financial Measures & Reconciliations](index=9&type=section&id=SUPPLEMENTAL%20FINANCIAL%20INFORMATION) [Reconciliation of GAAP to Non-GAAP EPS](index=9&type=section&id=Non-GAAP%20EPS%20reconciliation) Q1 2025 adjusted diluted EPS increased to **$2.19** from **$1.76** in Q1 2024, primarily due to adjustments for restructuring charges and non-operating foreign exchange loss Non-GAAP EPS Reconciliation | Description | Q1-25 | Q1-24 | | :--- | :--- | :--- | | GAAP diluted EPS | $1.75 | $1.93 | | EPS impact of Non-GAAP adjustments | $0.44 | ($0.17) | | **Adjusted diluted EPS** | **$2.19** | **$1.76** | [Reconciliation of Adjusted Operating Margin & Adjusted EBITDA](index=9&type=section&id=Adjusted%20operating%20margin%20%2F%20Adjusted%20EBITDA%20reconciliation) Q1 2025 adjusted operating income reached **$78.8 million** (14.2% margin) and adjusted EBITDA rose to **$111.5 million** (20.1% margin), with Electronics as the largest EBITDA contributor Adjusted EBITDA Reconciliation (in millions) | Metric | Q1-25 | Q1-24 | | :--- | :--- | :--- | | GAAP operating income | $70.2 | $55.0 | | Non-GAAP adjustments | $8.6 | $3.8 | | **Adjusted operating income** | **$78.8** | **$58.8** | | Amortization & Depreciation | $32.7 | $32.5 | | **Adjusted EBITDA** | **$111.5** | **$91.3** | | **Adjusted operating margin** | **14.2%** | **11.0%** | | **Adjusted EBITDA margin** | **20.1%** | **17.1%** | Adjusted EBITDA by Segment (in millions) | Segment | Q1-25 | Q1-24 | | :--- | :--- | :--- | | Electronics | $68.0 | $57.6 | | Transportation | $27.7 | $24.9 | | Industrial | $15.8 | $8.8 | [Reconciliation of Net Sales and Organic Growth](index=10&type=section&id=Net%20sales%20reconciliation) Total net sales grew **3.5%** in Q1 2025, driven by **2.9%** organic growth and **1.5%** from acquisitions, offset by a **0.9%** negative foreign exchange impact, with Industrial leading organic growth Q1 2025 vs Q1 2024 Net Sales Growth Reconciliation | Component | Electronics | Transportation | Industrial | Total | | :--- | :--- | :--- | :--- | :--- | | Net sales growth | 6% | (5)% | 15% | 4% | | Less: Acquisitions | 4% | —% | —% | 2% | | Less: FX impact | (1)% | (1)% | (1)% | (1)% | | **Organic net sales growth** | **3%** | **(4)%** | **16%** | **3%** | [Reconciliation of Income Tax](index=10&type=section&id=Income%20tax%20reconciliation) The Q1 2025 GAAP effective tax rate was **27.3%**, with the adjusted effective tax rate at **25.5%**, higher than the **19.3%** adjusted rate in Q1 2024 Income Tax Reconciliation | Metric | Q1-25 | Q1-24 | | :--- | :--- | :--- | | GAAP Effective Rate | 27.3% | 13.0% | | Adjusted Effective Rate | 25.5% | 19.3% | [Reconciliation of Free Cash Flow](index=10&type=section&id=Free%20cash%20flow%20reconciliation) Q1 2025 free cash flow slightly increased to **$42.7 million**, derived from **$65.8 million** in operating cash flow less **$23.1 million** in capital expenditures Free Cash Flow Reconciliation (in millions) | Description | Q1-25 | Q1-24 | | :--- | :--- | :--- | | Net cash provided by operating activities | $65.8 | $57.1 | | Less: Purchases of property, plant and equipment | ($23.1) | ($15.5) | | **Free cash flow** | **$42.7** | **$41.6** | [Debt and Leverage](index=11&type=section&id=Consolidated%20Total%20Debt) As of March 29, 2025, Littelfuse's net debt was **$634.4 million**, with a Consolidated Net Leverage Ratio of **1.3x**, well below the **3.50x** covenant limit - Consolidated Total Debt was **$805.7 million**, with Net Debt calculated at **$634.4 million** as of March 29, 2025[28](index=28&type=chunk) - The Consolidated Net Leverage Ratio was **1.3x**, which is well within the **3.50:1.00** covenant limit required by its credit agreements[29](index=29&type=chunk)

Core Insights - The article expresses a beneficial long position in LFUS shares, indicating a positive outlook on the company's stock performance [1] Group 1 - The information provided is intended for informational purposes only and does not constitute a solicitation to buy or sell securities [2] - Past performance of investments is not indicative of future results, emphasizing the need for individual research before making investment decisions [3]

Littelfuse (LFUS) shares ended the last trading session 4.9% higher at $160.04. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 30.6% loss over the past four weeks.Littelfuse is benefiting from strong design wins and growth in key sectors like data centers, industrial safety, and HVAC.This circuit protection manufacturer is expected to post quarterly earnings of $1.82 per share in its upcoming report, which represe ...

Financial Performance - The Company reported total net sales of $2,190.8 million for fiscal year 2024, a decrease of 7.3% from $2,362.7 million in 2023 and a decrease of 13.0% from $2,513.9 million in 2022[24]. - The Electronics segment generated net sales of $1,186.8 million in 2024, down from $1,350.4 million in 2023, reflecting a decline of 12.1%[24]. - The Transportation segment's net sales were $672.4 million in 2024, slightly down from $678.3 million in 2023, a decrease of 0.9%[24]. - The Industrial segment reported net sales of $331.6 million in 2024, a slight decrease from $334.0 million in 2023, down by 0.7%[24]. - The backlog of unfilled orders as of December 28, 2024, was approximately $664.9 million, down from $1,046.9 million at December 30, 2023, primarily due to a reduction in the semiconductor business[57]. - The Company recorded non-cash impairment charges of $36.1 million and $8.6 million for goodwill impairment in the Industrial controls and sensors and Automotive sensors reporting units, respectively[121]. - During Q4 2024, the Company recognized non-cash impairment charges of $47.8 million for intangible assets, primarily related to acquired customer relationships and developed technology[122]. - The Company’s stock price fluctuated between $222.9 and $275.6 from December 30, 2023, to December 28, 2024, indicating significant volatility[131]. Strategic Acquisitions - The Company completed the acquisition of Dortmund Fab for approximately €94 million (about $40.5 million down payment) to enhance power semiconductor capacity[21]. - The acquisition of Western Automation for approximately $162 million is expected to strengthen the Company's position in high-growth markets like electric vehicle charging infrastructure[21]. - The Company engages in strategic acquisitions to expand and diversify its operations, but may face challenges in realizing anticipated benefits and integrating these businesses[87]. International Sales and Market Presence - Approximately 63% of the Company's net sales in 2024 were to customers outside the U.S., with 23% specifically to China[26]. - Sales to customers outside the U.S. accounted for approximately 63%, 65%, and 64% of total net sales in fiscal years 2024, 2023, and 2022, respectively[53]. - The Company directly sells to over 4,000 customers and distributors worldwide, with sales to Arrow Electronics, Inc. representing 9.4%, 11.2%, and 11.5% of consolidated net sales in 2024, 2023, and 2022, respectively[52]. Research and Development - The Company invested $107.8 million, $102.4 million, and $95.6 million in R&D during fiscal years 2024, 2023, and 2022, respectively, indicating a continuous effort to enhance product development[41]. - The Company is focused on expanding its product portfolio through both organic and inorganic investments in high-growth, niche applications[32][39]. Workforce and Leadership Development - The Company employs approximately 16,000 full-time, part-time, and temporary employees, with 47% in the Americas, 40% in Asia-Pacific, and 13% in Europe[59]. - The Company’s leadership development programs include a mix of internal and external training to enhance leadership capabilities across all levels[67]. Sustainability and Compliance - The Company’s sustainability efforts are guided by a Chief Legal Officer and are reported annually, with the 2023 Sustainability Report prepared in alignment with GRI Standards and SASB[78]. - The Company believes it is currently in compliance with all material environmental laws and regulations[81]. - Compliance with environmental regulations has not significantly changed the Company's competitive position or earnings in the past and is not expected to do so in the foreseeable future[84]. - The Company may face increased costs and operational challenges due to climate change regulations and legislative developments[99]. Risks and Challenges - The Company is exposed to risks from operating a multinational business, including political and economic uncertainties in various countries[102]. - The Company may incur significant costs due to defects in its products, including warranty claims and product recalls, which could adversely affect financial results[97]. - Disruptions in the Company's manufacturing, supply, or distribution chain could adversely impact its ability to meet customer demand and result in lost sales[90]. - The Company may face significant liabilities related to environmental contamination and compliance with future environmental laws and regulations[106]. - The Company is exposed to significant fluctuations in foreign currency exchange rates, particularly with net long exposure to the euro and net short exposures to the Chinese renminbi, Mexican peso, and Philippine peso[117][118]. - The Company has experienced cyber-attacks and security breaches, which could disrupt operations and impact financial performance[133]. - The Company has identified material weaknesses in its internal control over financial reporting, which could impact the accuracy and timeliness of financial results[123]. - The Company incurred additional costs and risks due to identified material weaknesses in internal controls, which may impact the accuracy and timely reporting of financial results[127]. - The Company may face challenges in obtaining "conflict-free" metals due to limited suppliers, potentially leading to increased expenses[134]. Financial Position and Taxation - The Company is subject to a minimum tax of 15% on a country-by-country basis as part of OECD-led proposals, which could significantly affect its future effective tax rate and cash flows[111]. - The tax holiday for one subsidiary in China was extended for an additional three years, while another subsidiary's tax holiday will expire at the end of 2025[113]. - The Company's effective tax rate may be adversely affected by changes in the mix of its earnings by jurisdiction, particularly with varying tax rates across different regions[114]. - The Company’s ability to access capital markets is crucial for investments and refinancing, and any inability to do so could materially affect its financial position[129].

Q4 2024 EARNINGS RELEASE JANUARY 28, 2025 1 DISCLAIMERS Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided herein. Littelfuse strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at investor.littelfuse.com. This website also ...

For the quarter ended December 2024, Littelfuse (LFUS) reported revenue of $529.51 million, down 0.8% over the same period last year. EPS came in at $2.04, compared to $2.02 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $524.33 million, representing a surprise of +0.99%. The company has not delivered EPS surprise, with the consensus EPS estimate being $2.04.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Group 1: Earnings Performance - Littelfuse reported quarterly earnings of $2.04 per share, matching the Zacks Consensus Estimate, and showing an increase from $2.02 per share a year ago [1] - The company had revenues of $529.51 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.99%, but down from $533.81 million year-over-year [2] - Over the last four quarters, Littelfuse has exceeded consensus EPS estimates three times and topped consensus revenue estimates four times [2][3] Group 2: Stock Performance and Outlook - Littelfuse shares have declined approximately 2.7% since the beginning of the year, while the S&P 500 has gained 2.2% [3] - The company's current consensus EPS estimate for the upcoming quarter is $2.05 on revenues of $545 million, and for the current fiscal year, it is $10.19 on $2.3 billion in revenues [7] - The estimate revisions trend for Littelfuse is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Group 3: Industry Context - The Electronics - Miscellaneous Components industry, to which Littelfuse belongs, is currently ranked in the bottom 45% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Littelfuse's stock performance [5]

Financial Performance - Fourth quarter 2024 net sales were $529.5 million, down 1% year-over-year, while full year net sales totaled $2.19 billion, a decrease of 7% compared to the previous year[4]. - The company reported a net loss of $39 million for the fourth quarter, compared to a net income of $42.9 million in the same period last year[17]. - Net income for the year ended December 28, 2024, was $113,003, a decrease of 56.4% compared to $259,485 in 2023[19]. - Total net sales for the fourth quarter of 2024 were $529,505, down 0.8% from $533,807 in the same quarter of 2023, with year-to-date sales declining 7.3% to $2,190,768 from $2,362,657[20]. - The operating loss for the fourth quarter of 2024 was $36,686, a significant decline of 156.9% compared to an operating income of $64,523 in Q4 2023[20]. - The adjusted diluted EPS for the year-to-date 2024 was $8.48, down 27.5% from $11.74 in 2023[24]. Cash Flow and Assets - Cash flow from operations for the full year was $368 million, with free cash flow amounting to $292 million[4]. - Cash provided by operating activities for the year ended December 28, 2024, was $367,621, a decrease of 19.6% from $457,387 in 2023[19]. - The company reported a net cash used in investing activities of $65,782 for the year ended December 28, 2024, compared to $284,317 in 2023[19]. - The company had cash, cash equivalents, and restricted cash of $726,437 at the end of the period, an increase from $557,123 at the beginning[19]. - Free cash flow for Q4-24 was $134.8 million, compared to $121.2 million in Q4-23, while YTD free cash flow was $291.7 million, down from $371.2 million in YTD 2023[27]. Dividends and Future Expectations - The company declared a cash dividend of $0.70 per share, payable on March 6, 2025[6]. - The company expects first quarter 2025 net sales to be in the range of $520 - $550 million and adjusted diluted EPS between $1.70 - $1.90[4]. - Littelfuse's operational improvements and design win momentum are expected to drive solid earnings expansion in 2025[3]. Expenses and Impairments - Research and development expenses for the full year were $107.8 million, reflecting a focus on innovation and product development[17]. - The company recorded $92.6 million in non-cash impairment charges in Q4-24, primarily related to intangible assets and goodwill in the Industrial and Transportation segments[32]. Debt and Liabilities - Total current assets increased to $1.57 billion in 2024 from $1.41 billion in 2023, primarily driven by cash and cash equivalents rising to $724.9 million[15]. - Total liabilities decreased to $1.48 billion in 2024 from $1.52 billion in 2023, with long-term debt less current portion at $788.5 million[15]. - Consolidated total debt as of December 28, 2024, was $856.1 million, with net debt at $557.0 million[28]. - The Consolidated Net Leverage Ratio was reported at 1.2x, with a covenant threshold of 3.50:1.00 triggering an Event of Default if exceeded[29]. Segment Performance - The operating margin for the Electronics segment in Q4 2024 was 12.3%, down from 18.0% in Q4 2023, indicating a decline of 5.7%[22]. - The Transportation segment saw an operating margin increase to 9.0% in Q4 2024 from 4.7% in Q4 2023, reflecting a growth of 4.3%[22]. - Adjusted EBITDA for Q4-24 was $55.3 million for Electronics, $23.4 million for Transportation, and $17.0 million for Industrial, with margins of 19.3%, 14.5%, and 20.8% respectively[26]. - Year-to-date (YTD) 2024, Adjusted EBITDA reached $247.9 million for Electronics, $105.2 million for Transportation, and $61.0 million for Industrial, with margins of 20.9%, 15.6%, and 18.4% respectively[26]. - Net sales for Q4-24 showed a decline of 4% in Electronics, 1% in Transportation, and a growth of 12% in Industrial, resulting in an overall decline of 1%[26]. - For YTD 2024, net sales declined by 12% in Electronics, 1% in Transportation, and 1% in Industrial, leading to an overall decline of 7%[26]. Tax and Interest - The effective tax rate for Q4-24 was (30.4)%, compared to 27.3% in Q4-23, with adjusted effective tax rates of 12.9% and 26.1% respectively[27]. - The interest expense for the year-to-date 2024 was $38,717, slightly down from $39,866 in 2023[20].