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].

Core Insights - Analysts forecast Littelfuse (LFUS) to report quarterly earnings of $2.04 per share, reflecting a year-over-year increase of 1% [1] - Expected revenues are projected at $524.33 million, indicating a decline of 1.8% compared to the same quarter last year [1] Earnings Estimates Revisions - Over the last 30 days, there has been an upward revision of 0.9% in the consensus EPS estimate for the quarter, indicating analysts' reassessment of their initial forecasts [2] - Revisions to earnings estimates are significant indicators for predicting potential investor actions regarding the stock [3] Key Metrics Forecast - Analysts expect 'Net Sales- Industrial' to be $79.50 million, showing a year-over-year change of +8.2% [5] - 'Net Sales- Electronics' is estimated at $277.85 million, reflecting a year-over-year decline of -6.7% [5] - 'Net Sales- Transportation' is forecasted to reach $163.59 million, suggesting a change of +0.6% year over year [5] Operating Income Projections - 'Operating income / (loss)- Electronic' is expected to be $42.18 million, down from $53.55 million reported in the same quarter last year [6] - 'Operating income / (loss)- Industrial' is projected at $12.13 million, compared to $9.35 million in the same quarter last year [6] - 'Operating income / (loss)- Transportation' is anticipated to be $11.30 million, up from $7.62 million year-over-year [7] Stock Performance - Shares of Littelfuse have shown a return of -1.1% over the past month, contrasting with the Zacks S&P 500 composite's +2.7% change [7] - Littelfuse holds a Zacks Rank 3 (Hold), suggesting it is expected to mirror overall market performance in the near future [7]

Core Insights - Littelfuse reported revenue of $567.39 million for the quarter ended September 2024, a decrease of 6.5% year-over-year, with EPS at $2.71 compared to $2.97 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $557.98 million by 1.69%, while the EPS surpassed the consensus estimate of $2.08 by 30.29% [1] Financial Performance Metrics - Net Sales in the Industrial segment were $91.82 million, exceeding the average estimate of $80.60 million by three analysts, representing a year-over-year increase of 6.6% [3] - Net Sales in the Electronics segment were $304.19 million, slightly below the estimated $305.35 million, reflecting a year-over-year decline of 11.6% [3] - Net Sales in the Transportation segment were $171.38 million, also below the average estimate of $172.47 million, showing a year-over-year decrease of 3.2% [3] - Operating income for the Electronics segment was $48.89 million, slightly below the estimate of $49.36 million [3] - Operating income for the Industrial segment was $17.71 million, significantly above the average estimate of $10.01 million [3] - Operating income for the Transportation segment was $23.49 million, exceeding the average estimate of $15.38 million [3] Stock Performance - Shares of Littelfuse have returned -4% over the past month, contrasting with the Zacks S&P 500 composite's increase of 1.7% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]

Littelfuse (LFUS) came out with quarterly earnings of $2.71 per share, beating the Zacks Consensus Estimate of $2.08 per share. This compares to earnings of $2.97 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 30.29%. A quarter ago, it was expected that this circuit protection manufacturer would post earnings of $1.75 per share when it actually produced earnings of $1.97, delivering a surprise of 12.57%. Over the last four qu ...

Financial Performance - Net sales for Q3 2024 were $567 million, a decrease of 7% compared to the same period last year[1]. - Net income for Q3 2024 was $58.1 million, compared to $57.8 million in Q3 2023[14]. - Operating income for Q3 2024 was $87.8 million, down from $93.6 million in the prior year[14]. - Total net sales for Q3 2024 were $567.390 million, a decrease of 6.5% compared to $607.071 million in Q3 2023[17]. - The Electronics segment reported net sales of $304.188 million in Q3 2024, down 11.6% from $343.933 million in Q3 2023[17]. - Operating income for Q3 2024 was $87.821 million, a decline of 6.2% from $93.645 million in Q3 2023[17]. - Adjusted diluted EPS for Q3 2024 was $2.71, compared to $2.97 in Q3 2023, reflecting a decrease of 8.7%[19]. - Net income for the nine months ended September 28, 2024, was $151.976 million, down from $216.604 million for the same period in 2023, representing a decline of 30%[15]. Cash Flow and Dividends - Cash flow from operations was $80 million, and free cash flow was $65 million[1]. - The company incurred $49.687 million in cash dividends paid during the nine months ended September 28, 2024, compared to $45.973 million in the same period in 2023[15]. - Free cash flow for Q3-24 was $65.0 million, down from $139.8 million in Q3-23, and YTD-24 free cash flow was $156.9 million compared to $250.0 million in YTD-23[25]. - The company will pay a cash dividend of $0.70 per share on December 5, 2024[3]. Assets and Equity - Total assets increased to $4.062 billion as of September 28, 2024, compared to $3.995 billion at the end of 2023[12]. - The company reported a total equity of $2.573 billion as of September 28, 2024, up from $2.480 billion at the end of 2023[12]. - Consolidated total debt as of September 28, 2024, was $867.7 million, with net debt at $735.6 million[26]. Segment Performance - The Transportation segment saw a significant increase in operating income of 142.3% in Q3 2024, reaching $23.485 million compared to $9.694 million in Q3 2023[17]. - The Industrial segment experienced a 6.6% growth in net sales for Q3 2024, totaling $91.821 million, compared to $86.119 million in Q3 2023[17]. - Year-to-date (YTD) organic net sales declined by 12% in Electronics, 3% in Transportation, and grew by 7% in Industrial, resulting in an overall decline of 9%[23]. - Net sales in Electronics declined by 12% in Q3-24 compared to Q3-23, while Transportation saw a decline of 3%[24]. Operating Metrics - The operating margin for Q3 2024 was 15.5%, slightly up from 15.4% in Q3 2023[18]. - Adjusted EBITDA for Q3-24 was $68.9 million, with a margin of 22.6%, compared to $96.6 million and 28.1% in Q3-23[21]. - Adjusted EBITDA for YTD-24 was $192.5 million in Electronics, $81.8 million in Transportation, and $44.0 million in Industrial, with respective margins of 21.4%, 16.0%, and 17.6%[23]. - The effective tax rate for Q3-24 was 25.3%, up from 23.3% in Q3-23, with adjusted income taxes at $21.8 million[25]. - Net cash provided by operating activities for Q3-24 was $80.4 million, down from $161.5 million in Q3-23[25]. Future Outlook - For Q4 2024, the company expects net sales in the range of $510 - $540 million and adjusted diluted EPS between $1.90 - $2.10[2]. - The company has amended its Credit Agreement to allow for the addition of acquisition and integration costs up to 15% of Consolidated EBITDA[27].

Wall Street expects a year-over-year decline in earnings on lower revenues when Littelfuse (LFUS) reports results for the quarter ended September 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 earnings report, which is expected to be released on October 29, 2024, might help the stock move higher if these key numbers are better than ex ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Littelfuse (LFUS) , which belongs to the Zacks Electronics - Miscellaneous Components industry.This circuit protection manufacturer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 6.57%.For the last reported quarter, Littelfuse cam ...