Financial Performance - Net sales for Q3 2024 were 567million,adecreaseof758.1 million, compared to 57.8millioninQ32023[14].−OperatingincomeforQ32024was87.8 million, down from 93.6millionintheprioryear[14].−TotalnetsalesforQ32024were567.390 million, a decrease of 6.5% compared to 607.071millioninQ32023[17].−TheElectronicssegmentreportednetsalesof304.188 million in Q3 2024, down 11.6% from 343.933millioninQ32023[17].−OperatingincomeforQ32024was87.821 million, a decline of 6.2% from 93.645millioninQ32023[17].−AdjusteddilutedEPSforQ32024was2.71, compared to 2.97inQ32023,reflectingadecreaseof8.7151.976 million, down from 216.604millionforthesameperiodin2023,representingadeclineof3080 million, and free cash flow was 65million[1].−Thecompanyincurred49.687 million in cash dividends paid during the nine months ended September 28, 2024, compared to 45.973millioninthesameperiodin2023[15].−FreecashflowforQ3−24was65.0 million, down from 139.8millioninQ3−23,andYTD−24freecashflowwas156.9 million compared to 250.0millioninYTD−23[25].−Thecompanywillpayacashdividendof0.70 per share on December 5, 2024[3]. Assets and Equity - Total assets increased to 4.062billionasofSeptember28,2024,comparedto3.995 billion at the end of 2023[12]. - The company reported a total equity of 2.573billionasofSeptember28,2024,upfrom2.480 billion at the end of 2023[12]. - Consolidated total debt as of September 28, 2024, was 867.7million,withnetdebtat735.6 million[26]. Segment Performance - The Transportation segment saw a significant increase in operating income of 142.3% in Q3 2024, reaching 23.485millioncomparedto9.694 million in Q3 2023[17]. - The Industrial segment experienced a 6.6% growth in net sales for Q3 2024, totaling 91.821million,comparedto86.119 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 68.9million,withamarginof22.696.6 million and 28.1% in Q3-23[21]. - Adjusted EBITDA for YTD-24 was 192.5millioninElectronics,81.8 million in Transportation, and 44.0millioninIndustrial,withrespectivemarginsof21.421.8 million[25]. - Net cash provided by operating activities for Q3-24 was 80.4million,downfrom161.5 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].
Littelfuse(LFUS)2024-10-29 21:03