Littelfuse(US:LFUS)2026-01-28 12:03Financial Performance - Net sales for Q4 2025 were $594 million, representing a 12% increase year-over-year, with organic growth contributing 7%[4] - Full year 2025 net sales reached $2,386 million, a 9% increase year-over-year, with organic growth contributing 6%[4] - Adjusted diluted earnings per share for Q4 2025 were $2.69, while the full year adjusted diluted EPS was $10.68, reflecting a 34% increase year-over-year[4] - For Q1 2026, the company expects net sales in the range of $625 - $645 million, indicating approximately 15% total revenue growth compared to the prior year[5] - The Electronics Segment saw a 21% increase in net sales for Q4 2025, driven by improved passive products and semiconductor demand[7] - The Transportation Segment's net sales increased by 1% in Q4 2025, with organic sales decreasing by 1% due to lower commercial vehicle sales[7] - The Industrial Segment's net sales for Q4 2025 increased by 4%, with the Basler acquisition contributing 5% to growth[11] - Net sales for the three months ended December 27, 2025, were $593.9 million, a 12.2% increase from $529.5 million in the same period last year[22] - YTD-25 net sales increased by 9% compared to YTD-24, with organic growth at 6%[33] Profitability and Expenses - Gross profit for the same period was $225.7 million, up from $176.8 million, reflecting a significant improvement in profitability[22] - Adjusted EBITDA margin for the full year 2025 increased to 22.9%, primarily due to strong passive products and protection volume leverage[11] - The operating margin for the electronics segment improved to 17.3% from 13.0% year-over-year, indicating better operational efficiency[27] - Adjusted EBITDA for Q4-25 was $121.6 million, compared to $83.0 million in Q4-24, marking a 46.4% increase[29] - Total operating expenses surged to $448.6 million, compared to $226.3 million in the same quarter last year, primarily due to restructuring and impairment charges[22] - The operating loss for the quarter was $222.8 million, a significant decline from a loss of $49.5 million in the previous year[22] - Research and development expenses were $27.1 million for the quarter, slightly increasing from $26.5 million year-over-year[22] Cash Flow and Debt - Cash provided by operating activities was $433.8 million, an increase from $367.6 million year-over-year[24] - The company made acquisitions totaling $407.7 million during the fiscal year, impacting cash flows significantly[24] - Free cash flow for Q4-25 was $119.7 million, slightly down from $134.8 million in Q4-24[34] - Consolidated Total Debt as of December 27, 2025, is $802.6 million, with a net debt of $660.3 million[35] - The company’s total funded indebtedness stands at $804.6 million[35] - Cash held in U.S. subsidiaries amounts to $144.3 million, with up to $400 million available for netting under the Credit Agreement[36] Impairment and Charges - The company recorded a non-cash goodwill impairment charge of $301 million related to the Semiconductor Products business within the Electronics Segment[4] - A non-cash goodwill impairment charge of $301.2 million was recorded in Q4 2025 related to the Electronics-Semiconductor reporting unit[39] - The company recognized impairment charges totaling $92.6 million in Q4 2024, primarily related to intangible assets and goodwill[39] - The company recorded a $0.3 million loss related to the sale of the Marine business within the Transportation segment in 2025[41] Dividends and Shareholder Returns - The company plans to pay a cash dividend of $0.75 per share on March 5, 2026, to shareholders of record as of February 19, 2026[11] Taxation - The effective tax rate for Q4-25 was (5.6)%, significantly lower than (21.3)% in Q4-24[34]