Financial Data and Key Metrics Changes - Adjusted earnings per share increased by 18% year-over-year, reaching $3.33, aligning with the midpoint of guidance [5][16] - Quarterly revenue was reported at $7.1 billion, with segment margins hitting a record of 24.9%, up 20 basis points year-over-year [5][16] - Organic growth for the quarter was 9%, driven by strength in aerospace and Electrical Americas, partially offset by weaknesses in vehicle and e-mobility [16] Business Line Data and Key Metrics Changes - Electrical Americas segment achieved organic sales growth of 15%, primarily driven by data center demand, which was up about 40% [16][17] - Aerospace segment reported organic sales growth of 12%, with operating margin expanding by 120 basis points to 24.1% [19] - Vehicle segment experienced a decline of 13% on an organic basis, primarily due to weaknesses in the North America truck and light vehicle markets [20] Market Data and Key Metrics Changes - Orders in Electrical Americas increased by 16% on a trailing 12-month basis, with total quarterly orders up more than 50% [17][12] - Aerospace orders increased by 11% on a rolling 12-month basis, driven by defense OEM and aftermarket [19] - Data center orders accelerated approximately 200%, indicating strong demand in that market [4][16] Company Strategy and Development Direction - The company plans to spin off its mobility business into a separate publicly traded entity, aiming to sharpen strategic focus and optimize the portfolio [6][10] - Investments of $13 billion were announced for 2025, including acquisitions to enhance growth in key markets [5][6] - The company is focused on higher growth, higher margin businesses to improve earnings consistency and drive long-term value [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in double-digit growth in data center markets, supported by strong order trends and backlog [33][34] - The company anticipates a strong 2026, with guidance for organic growth between 7%-9% and segment margins of 24.6%-25% [24][23] - Management acknowledged the challenges of ramping up capacity but remains optimistic about long-term growth potential [54][56] Other Important Information - The backlog in Electrical Americas reached an all-time high of $15.3 billion, with a total backlog of $19.6 billion across segments [12][17] - The company is experiencing unprecedented demand, reflected in continued order acceleration and growing backlogs [25][26] Q&A Session Summary Question: Confidence in double-digit growth in data center markets - Management highlighted strong market indicators, including a 200% year-over-year increase in industry announcements and backlog, supporting optimism for future growth [33][34] Question: Quarterly cadence of the 2026 EPS guide - Management explained that the first half of 2026 is expected to show lower growth due to ramp-up costs, with a stronger performance anticipated in the second half [47][48] Question: Challenges related to capacity expansion - Management acknowledged the challenges of ramping up capacity but emphasized that investments are necessary to meet strong market demand [51][52]

Core Insights - The article discusses the shift in inclusive finance innovation from providing single loans to offering scenario-based bulk financial solutions, driven by the dual forces of digital finance and the upgrading of the real economy [1] - Suzhou Bank is focusing on high-quality technology enterprises represented by "specialized, refined, distinctive, and innovative" companies, launching the "Zhuan Te Loan" to address financing difficulties for businesses [1] Group 1 - Suzhou Bank is embedding its "Zhuan Te Loan" inclusive finance service into the operations of local technology enterprises, promoting deep integration of financial, technological, and industrial innovation [2] - A specific case is highlighted where a high-tech company in Kunshan, specializing in new electromechanical components, faced increased short-term working capital needs due to long order payment cycles and upstream material prepayment pressures [2] - Suzhou Bank reassessed the company's loan eligibility based on intellectual property, tax performance, and external qualifications, providing a tailored "Zhuan Te Loan" solution to meet the company's operational funding needs [2] Group 2 - Another example features a "little giant" new materials technology company in Changshu, which specializes in the development and manufacturing of titanium, nickel-based alloys, and stainless steel for high-tech fields [3] - The company experienced a rapid increase in working capital needs due to rising metal prices, prompting Suzhou Bank to quickly match a "Zhuan Te Loan" scenario based on the company's technology title and annual sales [3] - Suzhou Bank has provided over 16.3 billion yuan in inclusive loan support to nearly 2,600 "specialized, refined, distinctive, and innovative" small and micro enterprises, with a credit coverage rate of nearly 35% for national and provincial "specialized, refined, distinctive, and innovative" enterprises by the end of 2025 [3]

Q4 2025 Earnings Release January 28, 2026 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 pr ...

Group 1 - TE Connectivity is currently performing well, as indicated by their recent earnings report and guidance [2] - The company is a key player in the electrical components sector, benefiting from ongoing trends in artificial intelligence and technology [2]

Core Insights - ClearBridge Investments released its fourth-quarter 2025 investor letter for the ClearBridge Large Cap Growth Strategy, emphasizing an investment philosophy focused on undervalued leading companies with growth potential [1] Performance Summary - Large-cap stocks showed strength in the quarter, driven by strong earnings growth from mega-cap companies and enthusiasm for generative AI [1] - The ClearBridge Large Cap Growth Strategy underperformed the Russell 1000 Growth Index by approximately 900 basis points for the year and lagged behind the benchmark by about 170 basis points during the fourth quarter [1] Company Focus: Eaton Corporation plc - Eaton Corporation plc (NYSE:ETN) is highlighted as a key stock, with a one-month return of -7.90% and a 52-week loss of 6.50% [2] - As of January 7, 2026, Eaton's stock closed at $322.67 per share, with a market capitalization of $125.615 billion [2] Investment Analysis - The ClearBridge Large Cap Growth Strategy's diversified exposure to AI through Eaton, Accenture, and Equinix did not significantly add value in 2025 [3] - Eaton has faced supply constraints that limit its growth potential and ability to increase prices [3] Market Sentiment - Eaton Corporation plc is not among the 30 most popular stocks among hedge funds, with 72 hedge fund portfolios holding the stock at the end of Q3 2025, down from 74 in the previous quarter [4] - Eaton reported quarterly earnings of $7 billion for Q3 2025, with a margin increase of 70 basis points to reach 25% [4]

Core Insights - TimesSquare Capital Management's "U.S. Focus Growth Strategy" reported a gross return of 4.00% and a net return of 3.78% for Q3 2025, outperforming the Russell Midcap Growth Index's return of 2.78% [1] - Amphenol Corporation (NYSE:APH) is highlighted as a key investment, with a one-month return of -2.34% but a significant 71.52% increase over the past 52 weeks, closing at $129.24 per share with a market capitalization of $158.197 billion [2] - The company is recognized for its strong performance in the Information Technology sector, particularly in critical system provision and productivity-enhancing systems, with a notable 25% gain following a strong earnings report [3] Financial Performance - Amphenol Corporation's Q3 sales increased by 53% in US dollars and 52% in local currencies, reaching $6.194 billion [4] - The company contributed positively to the Baron Asset Fund's performance in Q3 2025, driven by rising expectations in data center spending due to accelerating AI adoption [5] Investment Sentiment - Despite Amphenol's strong performance, it is not among the top 30 most popular stocks among hedge funds, with 89 hedge fund portfolios holding the stock at the end of Q3, up from 81 in the previous quarter [4] - There is a belief that certain AI stocks may offer greater upside potential compared to Amphenol, indicating a competitive investment landscape [4]

Core Insights - Vertiv Holdings, based in Ohio, has gained attention due to its products for data centers amid the AI boom, transitioning from a lesser-known company to a more exciting investment opportunity [1] - The stock has experienced increased volatility, currently sitting more than 10% off its recent highs, raising questions about its performance for both short-term and long-term shareholders [2] One-Year Performance - Over the past year, Vertiv's stock initially rose by 20.8% in January but faced a significant decline, dropping 53.2% by April. However, it has since recovered and is now up 40.8% year-over-year, outperforming the S&P 500, which returned 13.4% [3][5] Three-Year Performance - Vertiv's stock has shown remarkable growth, with a three-year return of 1,110%, significantly surpassing the S&P 500's 68.3% return during the same period [4] Five-Year Performance - The five-year return for Vertiv stands at 822.3%, still outperforming the S&P 500's 86.7% return, but this is nearly 300 percentage points lower than its three-year return, indicating a decline in growth momentum [4] Historical Context - The decline in Vertiv's stock in 2022 was attributed to a poor Q4 2021 earnings report, where the company reported a $3.9 million operating loss compared to a $120 million profit the previous year, alongside a 95% drop in free cash flow, leading to a 67% decline in share price at one point [6]

Core Viewpoint - Self-help strategies are proving effective for Rexel SA amidst weaker end-market trends, particularly due to strong demand for electrical components related to data [1] Group 1: Company Performance - Rexel SA is experiencing positive performance this year, attributed to robust demand for electrical components [1]

Core Insights - Amphenol (APH) and TE Connectivity (TEL) are leading global manufacturers of electrical connectors, sensors, and interconnect systems, serving critical markets such as automotive, industrial, aerospace, and communications [1][2] - Both companies are benefiting from long-term trends including vehicle electrification, data-center growth, and the demand for high-speed connectivity [2] Amphenol Overview - Amphenol reported record sales of $6.2 billion in Q3, a 53% increase year-over-year, with 41% organic growth and $6.1 billion in orders [3][4] - The company achieved a record operating margin of 27.5%, with adjusted EPS growing by 86% and free cash flow reaching $1.2 billion [3] - Amphenol's IT datacom business, now 37% of total sales, more than doubled due to strong AI-related demand [4] - Future opportunities include AI growth, defense spending, recovery in commercial aerospace, and electric vehicle transitions, with projected Q4 earnings between $0.89 and $0.91 per share [5][6] TE Connectivity Overview - TE Connectivity reported record Q4 revenues of $4.75 billion, a 17% year-over-year increase, with adjusted EPS rising 25% to $2.44 [7] - The company’s Industrial Solutions segment saw significant growth, with Digital Data Networks increasing by 80% and generating over $900 million in AI-related revenues [8] - TE Connectivity anticipates double-digit growth in Q1 of fiscal 2026, with sales up 17% and adjusted EPS up 23% [10] Comparative Performance - Year-to-date, Amphenol shares have increased by 98.4%, outperforming TE Connectivity's 55.5% increase [12] - Amphenol's shares are trading at a forward Price/Sales ratio of 6.67X, compared to TEL's 3.42X, reflecting its faster revenue and earnings growth [15] - The Zacks Consensus Estimate for Amphenol's 2025 earnings is $3.29 per share, indicating a 74.07% year-over-year increase, while TEL's estimate for fiscal 2026 is $10.56 per share, reflecting a 20.55% increase [18][20] Investment Outlook - Amphenol is positioned as the stronger stock due to its robust revenue and earnings growth, exceptional operating margins, and dominant position in AI-driven datacenter interconnects [21] - TE Connectivity, while steady, faces uneven end-market exposure, making Amphenol a more compelling buy in the current market [21]

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 provides additional information about Littelfuse. Q3 202 ...