[Performance Overview and Outlook](index=1&type=section&id=Performance%20Overview%20and%20Outlook) Littelfuse exceeded Q2 2025 expectations with strong sales and EPS growth, provided positive Q3 guidance, and increased its quarterly dividend Q2 2025 Key Financial Highlights | Metric | Q2 2025 | YoY Change | | :--- | :--- | :--- | | Net Sales | $613 million | +9.8% | | Organic Growth | N/A | +6.2% | | GAAP Diluted EPS | $2.30 | +26% | | Adjusted Diluted EPS | $2.85 | +45% | | GAAP Operating Margin | 15.1% | +340 bps | | Adjusted EBITDA Margin | 21.4% | +280 bps | | YTD Operating Cash Flow | $148 million | N/A | | YTD Free Cash Flow | $115 million | N/A | - Management emphasized **solid growth** and **operational execution**, focusing on capitalizing on opportunities and driving excellence[2](index=2&type=chunk) Q3 2025 Financial Guidance | Guidance Metric | Q3 2025 Range | | :--- | :--- | | Net Sales | $610 - $630 million | | Adjusted Diluted EPS | $2.65 - $2.85 | | Adjusted Effective Tax Rate | 25% | - The Board approved a **7% increase** in the quarterly cash dividend to **$0.75 per share**[3](index=3&type=chunk)[5](index=5&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Consolidated financial statements reflect a healthy position with asset growth, increased net income, and strong operating cash flow [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to **$4.07 billion** by June 28, 2025, driven by goodwill and property, while cash and debt remained stable Condensed Consolidated Balance Sheets | Balance Sheet Item | June 28, 2025 (in thousands) | December 28, 2024 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | **$1,542,050** | **$1,552,009** | | Cash and cash equivalents | $685,184 | $724,924 | | **Total Assets** | **$4,065,881** | **$3,891,779** | | **Total Current Liabilities** | **$379,742** | **$433,905** | | Long-term debt, less current portion | $792,524 | $788,502 | | **Total Equity** | **$2,598,965** | **$2,413,612** | [Condensed Consolidated Statements of Net Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Net%20Income) Q2 2025 net sales grew **9.8%** to **$613.4 million**, driving a **41.6%** increase in operating income and higher net income Condensed Consolidated Statements of Net Income | Income Statement | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YTD 2025 (in thousands) | YTD 2024 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Net sales | $613,413 | $558,489 | $1,167,720 | $1,093,874 | | Gross profit | $232,054 | $207,004 | $439,310 | $394,812 | | Operating income | $92,778 | $65,506 | $162,928 | $120,458 | | Net income | $57,342 | $45,466 | $100,913 | $93,918 | | Diluted EPS | $2.30 | $1.82 | $4.05 | $3.75 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow increased to **$148.2 million** year-to-date, while investing and financing activities used significant cash Condensed Consolidated Statements of Cash Flows | Cash Flow | YTD 2025 (in thousands) | YTD 2024 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $148,225 | $126,574 | | Net cash used in investing activities | ($89,704) | ($26,677) | | Net cash used in financing activities | ($120,543) | ($79,290) | | (Decrease) increase in cash | ($39,554) | $6,173 | [Segment Performance](index=8&type=section&id=Segment%20Performance) All segments demonstrated strong Q2 2025 growth, with Industrial leading sales and significant operating income gains across segments Q2 2025 Net Sales by Segment | Q2 2025 Net Sales | Amount (in thousands) | YoY Growth | | :--- | :--- | :--- | | Electronics | $335,666 | 9.8% | | Transportation | $179,400 | 6.2% | | Industrial | $98,347 | 17.2% | | **Total net sales** | **$613,413** | **9.8%** | Q2 2025 Operating Income by Segment | Q2 2025 Operating Income | Amount (in thousands) | YoY Growth | | :--- | :--- | :--- | | Electronics | $49,861 | 8.0% | | Transportation | $28,074 | 84.3% | | Industrial | $18,863 | 97.6% | | **Total operating income** | **$92,778** | **41.6%** | Segment Operating Margins | Operating Margin | Q2 2025 (%) | Q2 2024 (%) | | :--- | :--- | :--- | | Electronics | 14.9% | 15.1% | | Transportation | 15.6% | 9.0% | | Industrial | 19.2% | 11.4% | [Supplemental Financial Information (Non-GAAP)](index=9&type=section&id=Supplemental%20Financial%20Information%20%28Non-GAAP%29) This section reconciles GAAP to non-GAAP measures, detailing adjusted EPS, EBITDA margins, organic sales growth, and debt leverage [Non-GAAP EPS and EBITDA Reconciliations](index=9&type=section&id=Non-GAAP%20EPS%20and%20EBITDA%20Reconciliations) Q2 2025 GAAP diluted EPS of **$2.30** was adjusted to **$2.85**, with GAAP operating income adjusted to a **21.4%** EBITDA margin Non-GAAP Diluted EPS Reconciliation | EPS Reconciliation | Q2 2025 ($) | Q2 2024 ($) | | :--- | :--- | :--- | | GAAP diluted EPS | $2.30 | $1.82 | | EPS impact of Non-GAAP adjustments | $0.55 | $0.15 | | **Adjusted diluted EPS** | **$2.85** | **$1.97** | Non-GAAP Margin Reconciliations | Margin Reconciliation | Q2 2025 (%) | Q2 2024 (%) | | :--- | :--- | :--- | | GAAP Operating Margin | 15.1% | 11.7% | | Adjusted Operating Margin | 15.8% | 12.7% | | Adjusted EBITDA Margin | 21.4% | 18.6% | [Segment-Level and Other Reconciliations](index=10&type=section&id=Segment-Level%20and%20Other%20Reconciliations) Q2 2025 adjusted EBITDA margins were strong across segments, with total organic sales growth of **6%** and increased free cash flow Q2 2025 Organic Net Sales Growth by Segment | Q2 2025 Organic Net Sales Growth | Electronics (%) | Transportation (%) | Industrial (%) | Total (%) | | :--- | :--- | :--- | :--- | :--- | | Net sales growth | 10% | 6% | 17% | 10% | | Less: Acquisitions & FX | 5% | 2% | 0% | 4% | | **Organic net sales growth** | **4%** | **4%** | **17%** | **6%** | Free Cash Flow Reconciliation | Free Cash Flow Reconciliation | YTD 2025 (in millions) | YTD 2024 (in millions) | | :--- | :--- | :--- | | Net cash provided by operating activities | $148.2 | $126.6 | | Less: Purchases of property, plant and equipment | ($33.0) | ($34.7) | | **Free cash flow** | **$115.2** | **$91.9** | [Debt and Leverage Analysis](index=11&type=section&id=Debt%20and%20Leverage%20Analysis) As of June 28, 2025, net debt was **$547.6 million**, resulting in a **1.1x** Consolidated Net Leverage Ratio, well below covenant Net Debt Calculation | Net Debt Calculation | As of June 28, 2025 (in millions) | | :--- | :--- | | Consolidated Total Debt | $810.2 | | Plus: Unamortized debt issuance costs & Finance lease liability | $2.5 | | Less: Cash held in U.S. | ($265.1) | | **Net debt** | **$547.6** | - The Consolidated Net Leverage Ratio for the twelve months ended June 28, 2025 was **1.1x**[30](index=30&type=chunk) [Disclosures](index=3&type=section&id=Disclosures) This section provides standard disclosures on forward-looking statements and the rationale for using non-GAAP financial measures - The "Safe Harbor" statement cautions that forward-looking statements are subject to **risks and uncertainties** that could cause actual results to differ materially[9](index=9&type=chunk) - Non-GAAP financial measures are used to enhance understanding of **core financial performance** and facilitate historical comparisons, with reconciliations provided[12](index=12&type=chunk)

Company Overview - Littelfuse is a diversified, industrial technology company with $2.4 billion in revenue for FY 2023[7] - The company has demonstrated a 15-year double-digit compound annual growth rate (CAGR) in sales of 10% and earnings per share (EPS) of 18%[8] - Littelfuse sells over 17 billion components annually to over 100,000 customers[28] Financial Performance & Strategy - The company targets double-digit revenue CAGR through a combination of 5-7% organic growth and 5-7% growth from acquisitions[13,32] - Littelfuse achieved a free cash flow conversion of net income of 143% in FY 2023[42] - The company's adjusted EBITDA margin was 22.3% in FY 2023[40] Segment Performance (FY 2023) - The Electronics segment generated $1.35 billion in revenue with an adjusted EBITDA margin of 28.1%[43] - The Transportation segment generated $678 million in revenue with an adjusted EBITDA margin of 11.2%[46] - The Industrial segment generated $334 million in revenue with an adjusted EBITDA margin of 21.1%[49] Capital Allocation - The company plans to return 40% of free cash flow to shareholders and allocate the remainder to acquisitions[13] - Littelfuse deployed over $1.2 billion in capital on strategic acquisitions[30]

Financial Data and Key Metrics Changes - Revenue for the first quarter was $554 million, up 4% year-over-year and up 3% organically, exceeding guidance [18] - GAAP operating margins were 12.7%, while adjusted operating margins were 14.2%, reflecting a 320 basis point increase from the prior year [19] - GAAP diluted earnings were $1.75, and adjusted diluted earnings were $2.19, up 24% year-over-year [19] - Operating cash flow was $66 million, with free cash flow of $43 million, resulting in a free cash conversion of 98% [20] Business Line Data and Key Metrics Changes - **Electronics Products Segment**: Sales increased by 6% year-over-year and 3% organically, with passive products up 13% organically, while semiconductor products declined by 5% [21][22] - **Transportation Products Segment**: Organic sales declined by 4%, with passenger car sales down 6% due to global cargo declines, but growth was noted in China [23][24] - **Industrial Products Segment**: Sales grew by 16% organically, driven by strong growth in Renewables, Data Center, and HVAC [25] Market Data and Key Metrics Changes - Book-to-bill ratio improved across all businesses, tracking above one, indicating strong demand and customer position [14] - The company entered the second quarter with a strong backlog, reflecting positive market conditions despite uncertainties [14][26] Company Strategy and Development Direction - The company aims to enhance focus on future growth opportunities and develop a structured approach to evaluate secular opportunities across evolving end markets [32][33] - Strategic acquisitions will remain a key pillar of growth strategy, aligning growth goals with long-term technology positioning [33] - The company is committed to providing complete solutions for a broader set of customers, leveraging diverse capabilities [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating through current economic uncertainties, emphasizing a flexible operating model and strong customer relationships [14][15] - There is a focus on monitoring potential demand risks in the second half of the year, particularly in the automotive and personal electronics sectors [74] - Management remains optimistic about long-term growth drivers, particularly in electrification and higher voltage applications [88] Other Important Information - The company returned $45 million to shareholders in the first quarter, with $17 million via dividends and $27 million through share repurchases [21] - A recent CFO transition was announced, with the outgoing CFO recognized for significant contributions to the company's growth [15][30] Q&A Session Summary Question: Can you elaborate on the tariff impacts and guidance assumptions? - Management highlighted a flexible operating model and local manufacturing strategies to mitigate tariff impacts, expecting minimal effect on earnings in the second quarter [39][41] Question: What are the expectations for the power semiconductor business? - Management noted that while there are pockets of strength, the overall market remains static, with opportunities for growth in high energy transfer applications [57][61] Question: How is the acquisition pipeline looking? - The company maintains a strong balance sheet and continues to evaluate acquisition opportunities as part of its growth strategy [63] Question: What is the outlook for transportation margins? - Management expressed confidence in continued margin expansion through operational excellence and leveraging best practices across the company [67] Question: How are customers responding to the current environment? - Customers are focused on short-term management of tariffs, but long-term strategic investments remain unchanged, with ongoing collaboration on R&D priorities [88]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $554 million, up 4% year-over-year and up 3% organically, exceeding guidance [17] - GAAP operating margins were 12.7%, while adjusted operating margins were 14.2%, reflecting a 320 basis point increase from the prior year [18] - Adjusted diluted earnings were $2.19, up 24% year-over-year, exceeding guidance [18] - Operating cash flow was $66 million, with free cash flow of $43 million, resulting in a free cash conversion of 98% [20] Business Line Data and Key Metrics Changes - **Electronics Products Segment**: Sales increased by 6% year-over-year and 3% organically, with passive products up 13% organically, while semiconductor products declined by 5% [21][22] - **Transportation Products Segment**: Organic sales declined by 4%, with passenger car sales down 6% due to global cargo declines, though growth was noted in China [23][24] - **Industrial Products Segment**: Sales grew 16% organically, driven by strong growth in Renewables, Data Center, and HVAC sectors [25] Market Data and Key Metrics Changes - Book-to-bill ratio improved across all businesses, tracking above one, indicating strong demand and customer positioning [14] - The company entered Q2 2025 with a strong backlog, reflecting positive momentum despite market uncertainties [14][26] Company Strategy and Development Direction - The company aims to enhance focus on future growth opportunities and develop a structured approach to evaluate secular opportunities across evolving end markets [33] - Strategic acquisitions will remain a key pillar of growth, with a focus on providing complete solutions for a broader customer base [34] - Operational excellence will be prioritized to enhance long-term profitability, leveraging best practices across the organization [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating through economic uncertainties, emphasizing a flexible operating model and strong cash generation capabilities [12][20] - There is a focus on monitoring potential demand risks in the second half of 2025, particularly in automotive and personal electronics sectors [76] - The company does not expect tariffs to have a material impact on Q2 earnings due to proactive measures taken [42][43] Other Important Information - The company returned $45 million to shareholders in Q1 2025, with $17 million via dividends and $27 million through share repurchases [21] - A recent CFO transition was announced, with the outgoing CFO recognized for significant contributions to the company's growth [15][31] Q&A Session Summary Question: Can you elaborate on the tariff impacts and guidance assumptions for Q2? - Management highlighted a flexible operating model and local manufacturing strategies to mitigate tariff impacts, expecting minimal effects on earnings [40][42] Question: What drove the sequential margin improvement in the Electronics segment? - The improvement was attributed to strong operating leverage from growth in passive electronics and effective cost management [48] Question: What is the company's exposure to data center opportunities, especially related to AI? - The company has a strong position in data centers, participating in trends towards higher voltage architectures, which presents significant content opportunities [52][53] Question: How is the acquisition pipeline looking in the current environment? - The company maintains a strong balance sheet and continues to evaluate acquisition opportunities as part of its growth strategy [64] Question: What are the expectations for transportation margins moving forward? - Management is focused on continued margin expansion through pricing strategies and operational excellence initiatives [68]

Financial Performance - Revenue increased by 4% to $554 million in Q1 2025 compared to $535 million in Q1 2024[20] - Organic revenue growth was 3% year-over-year[21] - Adjusted EPS was $2.19 in Q1 2025, compared to $1.76 in Q1 2024[20] - Adjusted EBITDA margin was 20.1% in Q1 2025, compared to 17.1% in Q1 2024[20] - Free cash flow was $43 million in Q1 2025, a 3% increase compared to Q1 2024, with a free cash flow conversion of 98%[21] Segment Performance - Electronics segment revenue increased by 6% to $307 million in Q1 2025 compared to $291 million in Q1 2024, with organic growth of 3%[27,29] - Passive products in the Electronics segment increased by 12% year-over-year, with 13% organic growth[29] - Transportation segment revenue decreased by 5% to $162 million in Q1 2025 compared to $170 million in Q1 2024, with organic decline of 4%[31,32] - Industrial segment revenue increased by 15% to $85 million in Q1 2025 compared to $74 million in Q1 2024, with organic growth of 16%[34,35] Q2 2025 Guidance - The company expects revenue between $565 million and $595 million[42] - The company expects adjusted EPS between $2.10 and $2.40[41,42]

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 ...