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Littelfuse Reports Second Quarter Results for 2025

Second Quarter 2025 Highlights:

(Year-over-year comparisons unless otherwise noted)

• Net sales of $613 million, +9.8%; organic growth contributed +6.2%
• GAAP diluted earnings per share of $2.30, +26%
• Adjusted diluted earnings per share of $2.85, +45%
• GAAP Operating margin of 15.1%, +340 bps; Adjusted EBITDA margin of 21.4%, +280 bps
• YTD Cash flow from operations of $148 million and free cash flow of $115 million; YTD cash conversion of 114%
• The Company鈥檚 Board of Directors approved a 7% increase in the quarterly cash dividend from $0.70 to $0.75; this equates to an annualized dividend of $3.00 per share

CHICAGO--(BUSINESS WIRE)-- (NASDAQ: LFUS), a leader in developing smart solutions that enable safe and efficient electrical energy transfer, today reported financial results for the second quarter ended June 28, 2025:

鈥淥ur Q2 results exceeded our expectations, driven by solid growth and operational execution across our businesses,鈥� said Greg Henderson, Littelfuse President and Chief Executive Officer. 鈥淲e are leveraging our market leadership position and unique product portfolio as we help our customers solve their challenges around the safe and efficient transfer of electrical energy. We exited the quarter with strong bookings, and, into the third quarter, we are well positioned to drive continued growth while enhancing operational performance. We will remain focused on executing through a dynamic environment, and our strong balance sheet and cash generation will continue to support our thoughtful capital allocation strategy.鈥�

鈥淲e are executing on our strategic priorities outlined last quarter, with a goal of driving leading long-term shareholder returns. Our focus on better capitalizing on future growth opportunities, providing more complete solutions to a broader set of customers, and driving operational excellence is delivering stronger growth and improved profitability.鈥�

Third Quarter of 2025*

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

• Net sales in the range of $610 - $630 million, adjusted diluted EPS in the range of $2.65 鈥� $2.85 and an adjusted effective tax rate of 25%

*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

• The company will pay a cash dividend on its common stock of $0.75 per share on September 4, 2025, to shareholders of record as of August 21, 2025

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, July 30, 2025, at 8:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at . A slide presentation is available in the Investor Relations section of the company鈥檚 website at .

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 鈥� everywhere, every day. Learn more at .

鈥淪afe Harbor鈥� Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.鈥檚 (鈥淟ittelfuse鈥� or the 鈥淐ompany鈥�) current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; economic conditions; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; changes in import and export duty and tariff rates; exchange rate fluctuations; commodity price fluctuations; the effect of the Company's accounting policies; labor disputes and shortages; restructuring costs in excess of expectations; pension plan asset returns less than assumed; uncertainties related to political or regulatory changes; integration of acquisitions may not be achieved in a timely manner, or at all; limited realization of the expected benefits from investment and strategic plans; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 28, 2024.

Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 28, 2024, and in other filings and submissions with the SEC, each of which are available free of charge on the company鈥檚 investor relations website at and on the SEC鈥檚 website at . These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

Non-GAAP Financial Measures

The information included in this press release and other materials filed with the SEC may include the non-GAAP financial measures including organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, net debt, consolidated EBITDA, and consolidated net leverage ratio (as defined in the credit agreement). Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules. The company believes that organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor鈥檚 overall understanding of our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that net debt, consolidated EBITDA, and consolidated net leverage ratio are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

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David Kelley

224-727-2535

[email protected]

Source: Littelfuse, Inc.