Littelfuse Inc.

30/10/2024 | Press release | Distributed by Public on 30/10/2024 01:46

Littelfuse Reports Third Quarter Results for 2024

CHICAGO--Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the third quarter ended September 28, 2024:

  • Net sales of $567 million were down 7% versus the prior year period and organically
  • GAAP diluted EPS was $2.32 and adjusted diluted EPS was $2.71
  • Cash flow from operations was $80 million and free cash flow was $65 million

"In the third quarter, our global teams delivered strong execution and drove sales and earnings above our expectations," said Dave Heinzmann, Littelfuse President and Chief Executive Officer. "While we see soft end market conditions extending into the fourth quarter, we remain focused on driving operational excellence while serving our global customer base and delivering meaningful new business wins. Our proven growth strategy, diversification efforts and strong technology capabilities position us to deliver top tier long-term stakeholder value."

Fourth Quarter of 2024*

Based on current market conditions, for the fourth quarter the company expects,

Net sales in the range of $510 - $540 million, adjusted diluted EPS in the range of $1.90 - $2.10 and an adjusted effective tax rate of approximately 14%.

*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

Dividend and Share Repurchase Authorization
  • The company will pay a cash dividend on its common stock of $0.70 per share on December 5, 2024, to shareholders of record as of November 21, 2024.

Conference Call and Webcast Information

  • Littelfuse will host a conference call on Wednesday, October 30, 2024, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company's website at Littelfuse.com.

About Littelfuse

Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 16,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets - everywhere, every day. Learn more at Littelfuse.com.

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