リテルヒューズの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


WASHINGTON, D.C. 20579

FORM 8-K


CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: April 30, 2024

(Date of earliest event reported)

LITTELFUSE, INC.

(Exact name of registrant as specified in its charter)


Delaware	0-20388	36-3795742
(State of other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

8755 W. Higgins Road, Suite 500, Chicago, IL 60631

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (773) 628-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of exchange on which registered

Common Stock, par value $0.01 per share

LFUS

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02			Results of Operations and Financial Condition

The information contained within Item 2.02 of this Form 8-K and the Exhibits attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On April 30, 2024, Littelfuse, Inc. (the “Company”) issued a press release announcing the results of its operations for the quarter ended March 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and incorporated by reference to this Item 2.02 as if fully set forth herein. A copy of the press release will also be available on the Company’s website.


Item 7.01			Regulation FD Disclosure

To supplement the information in the attached press release, the Company has also prepared a presentation, which will be available on the Company’s website at https://investor.littelfuse.com/events-and-presentations and is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in the press release and investor presentation attached to this Form 8-K includes forward-looking statements that are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to comments with respect to the objectives and strategies, financial condition, results of operations and business of the Company. These forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not be achieved. The Company cautions you not to place undue reliance on these forward-looking statements as a number of important factors could cause actual future results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements.

A copy of the press release is also posted on the Company's website.


Item 9.01			Financial Statements and Exhibits.


(d)			Exhibits
			The following exhibit is furnished with this Form 8-K:
			99.1 Press Release, dated April 30, 2024
			99.2 Littelfuse Presentation dated April, 30, 2024
			104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


			Littelfuse, Inc.


Date: April 30, 2024			By: /s/ Meenal A. Sethna
			Meenal A. Sethna Executive Vice President and Chief Financial Officer

EX-99.1 2 q12024earningsreleaseex991.htm EX-99.1 Document

Exhibit 99.1



			FOR IMMEDIATE RELEASE David Kelley 224-727-2535 dkelley@littelfuse.com

LITTELFUSE REPORTS FIRST QUARTER RESULTS FOR 2024

Solid execution drives Q1 sales above, and EPS in-line with guidance

CHICAGO, April 30, 2024 - Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the first quarter ended March 30, 2024:

•Net sales of $535 million were down 12% versus the prior year period, and down 12% organically

•GAAP diluted EPS was $1.93 and adjusted diluted EPS was $1.76

•Cash flow from operations was $57 million and free cash flow was $42 million

“Our global team delivered solid first quarter results, with sales above and earnings in-line with our expectations, as our increasingly diversified end market exposures, robust technology offering, and portfolio optimization initiatives helped to offset ongoing inventory destocking” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Further, our strong cash generation reflects disciplined execution, while our well-positioned balance sheet will continue to allow us to capitalize on growth opportunities. Looking forward, we remain confident in an expected return to growth during 2024, and believe our experienced team, agile operations and unwavering long-term strategic focus will drive top-tier value for our stakeholders.”

Second Quarter of 2024*

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

•Net sales in the range of $525 - $555 million, adjusted diluted EPS in the range of $1.65 - $1.85 and an adjusted effective tax rate of approximately 23% Dividend and Share Repurchase Authorization

*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.

-more-

Page 2

•The company’s Board of Directors approved a new stock repurchase authorization to replace its expiring previous 3-year program. The company may repurchase up to $300 million in the aggregate of shares of the company’s common stock for the period May 1, 2024, to April 30, 2027.

•The company will pay a cash dividend on its common stock of $0.65 per share on June 6, 2024, to shareholders of record as of May 23, 2024

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, May 1, 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 17,000 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.

“Safe Harbor” 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.’s (“Littelfuse” or the “Company”) 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 and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; 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; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; 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 30, 2023.

-more

Page 3

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 30, 2023, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. 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 includes the non-GAAP financial measures of 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’s 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.

LFUS-F

###


			Littelfuse Inc. 8755 West Higgins Road, Suite 500 Chicago, Illinois 60631 p: (773) 628-1000 www.littelfuse.com

Page 4

LITTELFUSE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS


	(Unaudited)
(in thousands)	March 30, 2024		December 30, 2023
ASSETS
Current assets:
Cash and cash equivalents	$	562,153	$	555,513
Short-term investments	231		235
Trade receivables, less allowances of $76,496 and $84,696 at March 30, 2024 and December 30, 2023, respectively	295,876		287,018
Inventories	456,135		474,607
Prepaid income taxes and income taxes receivable	8,574		8,701
Prepaid expenses and other current assets	121,142		82,526
Total current assets	1,444,111		1,408,600











Net property, plant, and equipment	479,435		493,153
Intangible assets, net of amortization	584,631		606,136
Goodwill	1,294,737		1,309,998
Investments	24,204		24,821
Deferred income taxes	10,798		10,486
Right of use lease assets	63,718		62,370
Other long-term assets	41,827		79,711
Total assets	$	3,943,461	$	3,995,275
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	172,809	$	173,535



Accrued liabilities	124,288		149,214
Accrued income taxes	42,051		38,725
Current portion of long-term debt	65,824		14,020
Total current liabilities	404,972		375,494
Long-term debt, less current portion	800,849		857,915
Deferred income taxes	100,755		110,820
Accrued post-retirement benefits	34,049		34,422
Non-current lease liabilities	50,791		49,472
Other long-term liabilities	80,752		86,671








Total equity	2,471,293		2,480,481
Total liabilities and equity	$	3,943,461	$	3,995,275

Page 5

LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)


	Three Months Ended
(in thousands, except per share data)	March 30, 2024		April 1, 2023
Net sales	$	535,385	$	609,782
Cost of sales	347,577		364,825
Gross profit	187,808		244,957

Selling, general, and administrative expenses	86,127		88,310

Research and development expenses	27,667		27,290
Amortization of intangibles	15,825		16,866
Restructuring, impairment, and other charges	3,237		1,850
Total operating expenses	132,856		134,316
Operating income	54,952		110,641

Interest expense	9,611		9,646
Foreign exchange gain	(5,042)		(1,675)
Other income, net	(5,321)		(6,233)
Income before income taxes	55,704		108,903
Income taxes	7,252		20,158
Net income	$	48,452	$	88,745

Earnings per share:
Basic	$	1.95	$	3.58
Diluted	$	1.93	$	3.54

Weighted-average shares and equivalent shares outstanding:
Basic	24,911		24,782
Diluted	25,124		25,062

Comprehensive income	$	18,161	$	102,028

Page 6

LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Three Months Ended
(in thousands)	March 30, 2024		April 1, 2023
OPERATING ACTIVITIES
Net income	$	48,452	$	88,745
Adjustments to reconcile net income to net cash provided by operating activities:	28,729		32,558















Changes in operating assets and liabilities:
Trade receivables	(12,723)		(13,176)
Inventories	16,179		(1,535)
Accounts payable	345		(16,246)



Accrued liabilities and income taxes	(28,042)		(43,578)
Prepaid expenses and other assets	4,210		6,639
Net cash provided by operating activities	57,150		53,407

INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	—		(158,260)

Purchases of property, plant, and equipment	(15,547)		(25,665)
Net proceeds from sale of property, plant and equipment, and other	7,064		737
Net cash used in investing activities	(8,483)		(183,188)

FINANCING ACTIVITIES
Net payments of credit facility	(1,875)		(1,875)







Repurchases of common stock	(16,131)		—


Cash dividends paid	(16,200)		(14,880)
All other cash provided by financing activities	686		4,551
Net cash used in financing activities	(33,520)		(12,204)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(8,550)		4,571
Increase (decrease) in cash, cash equivalents, and restricted cash	6,597		(137,414)
Cash, cash equivalents, and restricted cash at beginning of period	557,123		564,939
Cash, cash equivalents, and restricted cash at end of period	$	563,720	$	427,525

Page 7

LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)


	First Quarter
(in thousands)	2024			2023			% (Decline) / Growth
Net sales
Electronics	$	291,105		$	358,593		(18.8)	%
Transportation	170,367			166,641			2.2	%
Industrial	73,913			84,548			(12.6)	%
Total net sales	$	535,385		$	609,782		(12.2)	%

Operating income
Electronics	$	37,803		$	90,162		(58.1)	%
Transportation	16,206			8,532			89.9	%
Industrial	4,796			17,141			(72.0)	%
Other(a)	(3,853)			(5,194)			N.M.
Total operating income	$	54,952		$	110,641		(50.3)	%
Operating Margin	10.3		%	18.1		%

Interest expense	9,611			9,646
Foreign exchange gain	(5,042)			(1,675)
Other income, net	(5,321)			(6,233)
Income before income taxes	$	55,704		$	108,903		(48.8)	%

(a) "other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments and restructuring and impairment charges. (See Supplemental Financial Information for details.)

N.M. - Not meaningful


	First Quarter
(in thousands)	2024		2023		% (Decline)/Growth
Operating Margin
Electronics	13.0	%	25.1	%	(12.1)	%
Transportation	9.5	%	5.1	%	4.4	%
Industrial	6.5	%	20.3	%	(13.8)	%

Page 8

LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In millions of USD except per share amounts - unaudited)


Non-GAAP EPS reconciliation
	Q1-24		Q1-23
GAAP diluted EPS	$	1.93	$	3.54
EPS impact of Non-GAAP adjustments (below)	(0.17)		0.10
Adjusted diluted EPS	$	1.76	$	3.64


Non-GAAP adjustments - (income) / expense
	Q1-24		Q1-23
Acquisition-related and integration costs (a)	$	0.9	$	3.3


Restructuring, impairment and other charges (b)	3.2		1.9
Gain on sale of fixed assets (c)	(0.3)		—

Non-GAAP adjustments to operating income	3.8		5.2
Other loss (income), net (d)	0.2		(0.2)
Non-operating foreign exchange gain	(5.0)		(1.7)
Non-GAAP adjustments to income before income taxes	(1.0)		3.3
Income taxes (e)	3.3		0.9
Non-GAAP adjustments to net income	$	(4.3)	$	2.4

Total EPS impact	$	(0.17)	$	0.10


Adjusted operating margin / Adjusted EBITDA reconciliation
	Q1-24			Q1-23
Net income	$	48.5		$	88.7
Add:
Income taxes	7.3			20.2
Interest expense	9.6			9.6
Foreign exchange gain	(5.0)			(1.7)
Other income, net	(5.3)			(6.2)
GAAP operating income	$	55.0		$	110.6
Non-GAAP adjustments to operating income	3.8			5.2
Adjusted operating income	$	58.8		$	115.8
Amortization of intangibles	15.8			16.9
Depreciation expenses	16.7			17.6
Adjusted EBITDA	$	91.3		$	150.3

Net sales	$	535.4		$	609.8
Net income as a percentage of net sales	9.1		%	14.5		%
Operating margin	10.3		%	18.1		%
Adjusted operating margin	11.0		%	19.0		%
Adjusted EBITDA margin	17.1		%	24.6		%

Page 9


Adjusted EBITDA by Segment	Q1-24									Q1-23
	Electronics			Transportation			Industrial			Electronics			Transportation			Industrial
GAAP operating income	$	37.8		$	16.2		$	4.8		$	90.2		$	8.5		$	17.1
Add:
Add back amortization	9.8			3.4			2.6			10.2			4.5			2.2
Add back depreciation	10.0			5.3			1.4			9.6			6.8			1.2

Adjusted EBITDA	$	57.6		$	24.9		$	8.8		$	110.0		$	19.8		$	20.5
Adjusted EBITDA Margin	19.8		%	14.6		%	11.9		%	30.7		%	11.9		%	24.3		%


Net sales reconciliation	Q1-24 vs. Q1-23
	Electronics		Transportation		Industrial		Total
Net sales (decline) growth	(19)	%	2	%	(13)	%	(12)	%
Less:
Acquisitions	—	%	—	%	1	%	—	%


FX impact	—	%	(1)	%	—	%	—	%
Organic net sales (decline) growth	(19)	%	3	%	(14)	%	(12)	%


Income tax reconciliation
	Q1-24			Q1-23
Income taxes	$	7.3		$	20.2
Effective rate	13.0		%	18.5		%
Non-GAAP adjustments - income taxes	3.3			0.9
Adjusted income taxes	$	10.6		$	21.1
Adjusted effective rate	19.3		%	18.8		%
Free cash flow reconciliation
	Q1-24			Q1-23
Net cash provided by operating activities	$	57.1		$	53.4
Less: Purchases of property, plant and equipment	(15.5)			(25.7)
Free cash flow	$	41.6		$	27.7

Page 10


Consolidated Total Debt	As of March 30, 2024


Consolidated Total Debt	$	866.7
Unamortized debt issuance costs	3.5
Finance lease liability	0.6
Consolidated funded indebtedness	870.8
Cash held in U.S. (up to $400 million)	157.9
Net debt	$	712.9

Consolidated EBITDA	Twelve Months Ended March 30, 2024
Net Income	$	219.1
Interest expense	39.8
Income taxes	56.2
Depreciation	70.7
Amortization	64.8
Non-cash additions:
Stock-based compensation expense	23.8
Purchase accounting inventory step-up charge	—
Unrealized loss on investments	2.5
Impairment charges	5.8
Other	18.3
Consolidated EBITDA (1)	$	501.0

Consolidated Net Leverage Ratio (as defined in the Credit Agreement) *	1.4x

* Our Credit Agreement and Private Placement Note with maturities ranging from 2024 to 2032, contain financial ratio covenants providing that if, as of the last day of each fiscal quarter, the Consolidated Net Leverage ratio at such time for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Credit Agreement and Private Placement Senior Notes) is triggered.

The Credit Agreement and Private Placement Senior Notes were amended in Q2 2022 and now allow for the addition of acquisition and integration costs up to 15% of Consolidated EBITDA and the netting of up to $400M of Available Cash (Cash held by US Subsidiaries).

(1) Represents Consolidated EBITDA as defined in our Credit Agreement and Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.

Note: Total will not always foot due to rounding.

(a) reflected in selling, general and administrative expenses ("SG&A").

(b) reflected in restructuring, impairment and other charges.

(d) 2024 amount reflected $0.2 million increase in coal mining reserves, while 2023 amount included $0.2 million gain from the sale of a building within the Electronics segment.

(e) reflected the tax impact associated with the non-GAAP adjustments.

###

EX-99.2 3 q1-24slides2.htm EX-99.2 q1-24slides2

1 Q1 2024 EARNINGS RELEASE April 30, 2024

2Littelfuse, Inc. © 2024 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. “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995. The statements in this presentation 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.’s ("Littelfuse" or the "Company") 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 and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; 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; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; 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 presentation 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 30, 2023. 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 30, 2023, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at http://www.sec.gov. 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 presentation includes the non-GAAP financial measures of organic net sales (decline) growth, adjusted operating margin, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted effective tax rate, free cash flow, and consolidated net leverage ratio (as defined in the credit agreement). A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the appendix. The company believes that these non-GAAP financial measures provide useful information to investors regarding its operational performance, ability to generate cash and its credit position enhancing an investor’s overall understanding of its core financial performance. The company believes that these non-GAAP financial measures are commonly used by financial analysts and provide useful information to analysts. Management uses these measures when assessing the performance of the business and for business planning purposes. Note that the definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies. DISCLAIMERS

BUSINESS UPDATE Dave Heinzmann, President & CEO

4Littelfuse, Inc. © 2024 EXECUTIVE SUMMARY Execution & new business momentum support long-term growth strategy  Executing in a continued dynamic environment  Q1 Sales exceed the high end of guidance  Adjusted EPS in-line with guidance  Strong cash generation, well-positioned balance sheet  Ongoing momentum from portfolio diversification and optimization initiatives  Resilient Electronics segment margins  Rebounding Transportation segment margins  Continued confidence in expected return to growth during 2024

6Littelfuse, Inc. © 2024 ELECTRONICS END MARKETS EXECUTING WHILE DRIVING INNOVATIONS  Leading technology enabler for a broad & growing base of customers  Solid design win momentum supporting new customer product launches  Ongoing soft consumer demand; stable medical exposure  Delivering on a diverse set of customer opportunities across structural growth themes  Safety-critical medical win in China  Space related communications win in NA  Telecom / data center wins across multiple regions Q1 2024 Highlights

7Littelfuse, Inc. © 2024 INDUSTRIAL END MARKETS POSITIONED FOR LONG TERM GROWTH  Softening broad based industrial demand  Seeing areas of excess OEM inventory  Long term growth drivers intact  Supported by infrastructure spend, increasing electrical efficiency requirements & decarbonization  Design momentum driven by engineering expertise & broad product portfolio  Charging infrastructure application wins across multiple regions and applications  Energy storage win for renewables application supporting sustainability growth theme  Continued industrial safety design win momentum driven by advancing regulations Q1 2024 Highlights

8Littelfuse, Inc. © 2024 TRANSPORTATION END MARKETS BALANCED CAPABILITIES ACROSS APPLICATIONS  Continued auto content momentum supported by product breadth and global customer reach  Content per vehicle expansion in China  High voltage traction supported by innovative product pipeline  Technology leadership and operational scale enable continued customer traction  Multi-technology win for onboard charging application in Europe  High voltage wins across NA, China, Korea  Multi-technology win for electric commercial truck customer Q1 2024 Highlights

FINANCIAL UPDATE Meenal Sethna, EVP & CFO

10Littelfuse, Inc. © 2024  Revenue (-12%) vs PY / organic  ~2% portfolio pruning headwind  GAAP op margin 10.3%; Adj op margin 11%  Effective tax rate: GAAP 13%; Adj. 19.3%  Includes one-time discrete benefits  Operating cash flow $57m, +7% vs PY; Free cash flow $42m Q1 2024 TOTAL COMPANY FINANCIAL PERFORMANCE GAAP EPS $3.54 $1.93 Adj. EPS $3.64 $1.76 Adj. EBITDA% 24.6% 17.1% $610 $535 Q1-23 Q1-24 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation Highlights

11Littelfuse, Inc. © 2024 CASH GENERATION & CAPITAL DEPLOYMENT  Well-positioned business model & execution drive robust long- term cash generation  Disciplined approach to working capital  Strong cash generation & balance sheet support capital deployment strategy  Consolidated net leverage ratio ~1.4x  Prioritizing growth investments  Driving long-term shareholder value  Q1 ’24 deployment - returned $32m to shareholders  Even split between dividends and share repurchases  Subsequent $23m in Q2 share repurchases through 4/26  Consistent prioritization of capital deployment  Organic investments  Strategic acquisitions  Dividends and share repurchases See appendix for GAAP to non-GAAP reconciliation

12Littelfuse, Inc. © 2024 $359 $291 Q1-23 Q1-24 Q1 2024 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE Revenue  Revenue (-19%) vs PY / organic  Passive Products (-10%); Semiconductor (-25%)  Continued channel inventory destocking, nearing inflection point  Maintaining resilient profitability through inventory rebalancing via diversification and improved cost structure  Margin improvements expected as demand reaccelerates (in millions) Op Margin 25.1% 13.0% Adj. EBITDA% 30.7% 19.8% Highlights See appendix for GAAP to non-GAAP reconciliation

13Littelfuse, Inc. © 2024 $167 $170 Q1-23 Q1-24 Q1 2024 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE Revenue  Revenue growth +2% / organic +3%  ~6% portfolio pruning headwind  Passenger vehicle +10% / organic +12%  Content & product launches; led by China  Commercial vehicle (-5%) / organic (-6%)  Headwind from ongoing distribution inventory rebalancing; portfolio pruning  Structural actions improved profitability  Pricing, product pruning, cost reduction actions  Sequential improvements op margin +480bps, adj. EBITDA margin +380bps (in millions) Op Margin 5.1% 9.5% Adj. EBITDA% 11.9% 14.6% See appendix for GAAP to non-GAAP reconciliation Highlights

14Littelfuse, Inc. © 2024 $85 $74 Q1-23 Q1-24 Q1 2024 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE Revenue  Revenue (-13%) / organic (-14%)  Softer industrial markets...Construction / MRO, renewables (solar, EV infrastructure)  OEM inventory levels remain elevated  Footprint optimization initiatives to expand capacity and enhance long term profitability  Expect progressive margin recovery in coming quarters (in millions) Op Margin 20.3% 6.5% Adj. EBITDA% 24.3% 11.9% See appendix for GAAP to non-GAAP reconciliation Highlights

15Littelfuse, Inc. © 2024 Q2 2024 GUIDANCE  Macro view…expect continued dynamic environment  Ongoing channel inventory destock, nearing inflection  Expanded weakness in industrial end markets  Inflationary trends continue  Sales $525 - $555m  +1% sequentially  By segment: Flat Electronics; Industrial & Transportation slightly up  (-1%) F/X headwind vs. PY  Expected adj. effective tax rate ~23%  Adj. EPS $1.65 - $1.85  Stock comp retirement provisions ($0.30) EPS, (-170bps) margin headwind  F/X: ($0.16) EPS, (-90bps) margin headwind vs. PY (in millions) See appendix for GAAP to non-GAAP reconciliation $612 $535 $555 - $525 Q2-23 Q1-24 Q2-24 Revenue Adj. EPS $3.12 $1.76 $1.65 - $1.85 GAAP EPS $2.79 $1.93 - Highlights

16Littelfuse, Inc. © 2024 FULL YEAR 2024 CONSIDERATIONS / EXPECTATIONS  F/X: (-1%) headwind to sales; ($0.50) EPS, (-70bps) margin headwind at current rates  Expect return to sales growth during 2024, including portfolio initiatives headwind  Pruning impact…(-2%) Company, (-5%) Transportation Segment (heavier Comm. Vehicle)  Full year ’24 margin expectations impacted by elongated inventory destocking cycle and end market weakness  Company adj. operating margin in mid-teens  By segment…Electronics upper-teens; Industrial mid-teens; Transportation continued improvement, high single-digits at year end  Other Assumptions  $64m amortization expense; $39m interest expense  Adj. effective tax rate ~22%  Expect 100% free cash flow conversion  Projecting ~$100m investment in capital expenditures

17Littelfuse, Inc. © 2024 DIVERSIFICATION OF TECHNOLOGIES, END MARKETS & GEOGRAPHIES DELIVERS DOUBLE-DIGIT REVENUE & EARNINGS CAGR '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 Revenue (M$) Adjusted EPS 15-year* CAGR: Sales +10% EPS +18% Strong track record of top tier financial performance  Expanding leadership in core markets while prioritizing strategic investments to bolster diversified portfolio  Flexible cost structure drives improved profitability through cycles  Proven team with history of successfully executing through dynamic environments *2008 - 2023