Littelfuse Inc (NASDAQ:LFUS) Q2 2024 Results Conference Call July 31, 2024 10:00 AM ET Company Participants David Kelley - Head of Investor Relations Dave Heinzmann - President, CEO & Director Meenal Sethna - Executive VP & CFO Conference Call Participants Luke Junk - Baird Matt Sheerin - Stifel Christopher Glynn - Oppenheimer Grant Smith - Jefferies Josh Buchalter - TD Cowen David Williams - The Benchmark William Kerwin - Morningstar David Silver - CLK Operator Good day, everyone, and welcome to the Littel ...

For the quarter ended June 2024, Littelfuse (LFUS) reported revenue of $558.49 million, down 8.7% over the same period last year. EPS came in at $1.97, compared to $3.12 in the year-ago quarter. The reported revenue represents a surprise of +3.29% over the Zacks Consensus Estimate of $540.73 million. With the consensus EPS estimate being $1.75, the EPS surprise was +12.57%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Over the last four quarters, the company has surpassed consensus EPS estimates three times. Littelfuse shares have lost about 2.8% since the beginning of the year versus the S&P 500's gain of 14.5%. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. One other stock from ...

FOR IMMEDIATE RELEASE David Kelley 224-727-2535 dkelley@littelfuse.com LITTELFUSE REPORTS SECOND QUARTER RESULTS FOR 2024 Diverse and resilient business model drive Q2 sales and adjusted EPS above guidance • Net sales of $558 million were down 9% versus the prior year period, and down 8% organically • Cash flow from operations was $69 million and free cash flow was $50 million • On June 26, the company released its 2023 Sustainability Report on littelfuse.com/about-us/sustainability Third Quarter of 2024* • ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Littelfuse (LFUS) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the ...

"DigiKey is honored to receive this recognition from Littelfuse for our hard work and growth this year," said Sean Sorteberg, director, multi market semiconductor at DigiKey. "We are proud to partner with Littelfuse to provide our customers with vital components that drive innovation and engineering design." Littelfuse selects the winner of the High Service Distributor of the Year award based on various distributor performance metrics, including overall sales growth, focus product sales, increase in the num ...

Littelfuse, Inc. (NASDAQ:LFUS) Q1 2024 Earnings Conference Call May 1, 2024 10:00 AM ET Luke Junk - Baird Matthew Sheerin - Stifel Joshua Buchalter - Cowen Christopher Glynn - Oppenheimer Saree Boroditsky - Jefferies David Williams - Benchmark David Kelley Also, our remarks today refer to non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is provided in our earnings release available on the Investor Relations section of our website. Our cus ...

For the quarter ended March 2024, Littelfuse (LFUS) reported revenue of $535.39 million, down 12.2% over the same period last year. EPS came in at $1.76, compared to $3.64 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $519.13 million, representing a surprise of +3.13%. The company delivered an EPS surprise of +0.57%, with the consensus EPS estimate being $1.75.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Stre ...

Exhibit 99.1 FOR IMMEDIATE RELEASE David Kelley 224-727-2535 dkelley@littelfuse.com LITTELFUSE REPORTS FIRST QUARTER RESULTS FOR 2024 Based on current market conditions, for the second quarter the company expects, • Net sales in the range of $525 - $555 million, adjusted diluted EPS in the range of $1.65 - $1.85 and an adjusted effective tax rate of approximately 23% *Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items incl ...

Financial Performance - Net sales decreased by $151.2 million (6.0%) to $2,362.7 million in 2023, primarily due to lower volume in the Electronics segment and the commercial vehicle business within the Transportation segment[166] - Net income decreased to $259.5 million ($10.34 per diluted share) in 2023 from $373.3 million ($14.94 per diluted share) in 2022, driven by lower operating income in the Electronics and Transportation segments[166] - Total revenue for fiscal year 2023 was $2,362.7 million, a decrease from $2,513.9 million in 2022[197] - Operating income for 2022 was $500.8 million, an increase of $115.2 million (29.9%) compared to 2021[251] - Operating margins increased from 18.5% in 2021 to 19.9% in 2022, primarily driven by higher operating income in the Electronics segment[251] Cash Flow and Capital Management - Net cash provided by operating activities increased by $37.7 million to $457.4 million in 2023, primarily due to reductions in working capital[167] - The company plans to return 40% of free cash flow to shareholders through dividends and opportunistic share repurchases[178] - The company's ability to access capital markets and bank credit facilities is critical for investments, strategic acquisitions, and refinancing maturing debt obligations[119] Acquisitions and Strategic Growth - The company completed the acquisition of Western Automation for approximately $162 million in cash, which had annualized sales of approximately $25 million[169] - The company entered into a definitive purchase agreement to acquire a 200mm wafer fab in Dortmund, Germany for approximately 93 million Euro, with 37.2 million Euro paid in 2023 and the remaining 56 million Euro to be paid at closing in early 2025[168] - The company targets 5-7% average annual organic sales growth and 5-7% average annual growth from strategic acquisitions as part of its five-year strategic plan[178] - The company's strategy focuses on increasing product content, expanding into high-growth geographies and end markets, and leveraging strategic acquisitions to enhance organic growth[178] Regional Sales Performance - Asia-Pacific net sales decreased by $121.0 million (11.9%) in 2023, primarily due to lower electronics and commercial vehicle sales[240] - European net sales increased by $60.6 million (12.1%) in 2023, driven by acquisitions and increased semiconductor and passenger car product sales[241] Goodwill and Asset Valuation - The company's goodwill impairment test as of October 1, 2023 indicated no impairment charges, with the estimated fair values of all seven reporting units exceeding their carrying values[185] - All seven reporting units passed the goodwill impairment test with fair values exceeding carrying values by 23% to 369% as of October 1, 2023[188] - A 1.0% decrease in estimated annual future cash flows would decrease the estimated fair value of the reporting unit by approximately 1.0%[189] - The estimated discount rate was 12.6% for most reporting units and 16.8% for the Industrial Controls and Sensors unit[189] - The company holds material amounts of goodwill and other long-lived assets, and a decline in expected profitability could lead to asset impairment[117] Revenue Recognition and Sales Incentives - The Company recognizes revenue when control of the product is transferred to the customer, typically at the time of shipment[198] - The Company offers volume-based sales incentives, estimating rebates as a reduction to revenue as products are sold[204] Market and Operational Risks - The company's revenues may vary significantly due to factors such as changes in customer buying decisions, demand for products, distributor inventory stocking, and product mix[116] - The company's fixed costs may reduce operating results if sales fall below expectations, as many expenses, particularly capital equipment and manufacturing overhead, are relatively fixed[120] - The company is exposed to potential security breaches or disruptions to its IT systems, which could result in financial liability, legal sanctions, or reputational damage[123] - The company faces risks related to currency exchange rates, commodity prices, and interest rates, which could have a material adverse effect on its results of operations and financial condition[113] - The company may incur additional expenses due to customer demands and regulations related to conflict-free minerals, particularly in the semiconductor industry[124] - The bankruptcy or insolvency of a major customer, such as an auto manufacturer or supplier, could lead to substantial disruptions and lower demand for the company's products[118] Currency Exposure - The company's most significant net long exposure is to the euro, while its most significant net short exposures are to the Chinese renminbi, Mexican peso, and Philippine peso[114] Stock Performance - The company's stock price ranged between a low of $212.8 and a high of $309.9 from December 31, 2022, to December 30, 2023[121]