Littelfuse Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw 20% sales growth and 47% EPS growth, driven by strong demand in data center, industrial, and energy markets. Record bookings and a robust outlook support guidance for 26% sales growth and 68% EPS growth in Q3, with continued momentum from Basler and major design wins.
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A five-year strategy targets revenue growth from $2.5B to $4.5B by 2030, driven by electrification, high-voltage DC adoption, and focus on high-growth markets like data center and grid infrastructure. Operational excellence, disciplined M&A, and a customer-centric go-to-market model underpin plans for margin expansion and resilient cash flow.
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First quarter net sales rose 19% year-over-year to $657 million, with strong margin expansion and robust order momentum. Basler acquisition integration exceeded expectations, and double-digit growth was seen in data centers and grid infrastructure. Q2 guidance anticipates continued growth and profitability.
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The meeting confirmed a quorum, reelected all eight director nominees, approved executive compensation, and ratified Deloitte & Touche as auditors for 2026. Gayla Delly was recognized for her board service. No questions were raised by stockholders.
Fiscal Year 2025
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Q4 revenue grew 12% year-over-year, driven by strong data center, grid, and renewables markets, with Basler Electric acquisition enhancing high-power capabilities. Adjusted EBITDA margin expanded significantly, and robust bookings support double-digit growth and earnings expansion into 2026.
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Q3 2025 saw 10% revenue growth and strong cash generation, with electronics and industrial segments leading. The Basler Electric acquisition expands grid and data center capabilities, while a realigned sales force and new semiconductor leadership aim to drive future growth.
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Sharpened strategy focuses on growth in high-voltage and energy-dense markets, unified sales, and operational excellence. Strong balance sheet supports organic investment, M&A, and returns to shareholders, with margin improvements expected across segments.
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Q2 2025 saw 10% revenue growth, margin expansion, and strong cash flow, with all segments contributing and new design wins in data centers and renewables. Guidance calls for continued growth, with operational excellence and strategic investments supporting long-term value.
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Q1 revenue grew 4% year-over-year to $554M, with strong margin expansion and robust cash flow. Electronics and industrial segments outperformed, while transportation margins improved despite soft demand. Q2 guidance anticipates continued growth, with tariff risks mitigated.
Fiscal Year 2024
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Q4 and full year 2024 results met guidance, with strong cash flow and margin expansion despite mixed end markets. Electronics and industrial segments showed stabilization and growth, while transportation faced ongoing softness. 2025 outlook calls for earnings growth, margin expansion, and benefits from recent acquisitions.
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Q3 results exceeded expectations with strong margins and cash flow, despite a 7% year-over-year revenue decline. Segment performance was mixed: industrial grew 7%, transportation and electronics declined, and margin expansion was aided by cost actions and favorable currency. Muted demand and cautious ordering persist, with Q4 sales and EPS expected to decline sequentially.
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Strategy emphasizes sustainability, connectivity, and safety, targeting double-digit growth through organic expansion and acquisitions. Electronics and industrial segments show signs of recovery for 2025, while transportation margins improve via portfolio optimization. Acquisition and innovation remain key growth levers.
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Second quarter results exceeded expectations with strong free cash flow and robust design win momentum, despite year-over-year revenue declines and ongoing market softness in industrial and transportation segments. Guidance reflects cautious customer order patterns, commodity headwinds, and continued focus on disciplined capital allocation.
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The company is executing a five-year strategy focused on sustainability, connectivity, and safety, targeting double-digit growth through a mix of organic expansion and acquisitions. Electronics and transportation segments are recovering from cyclical lows, with margin improvement expected as demand returns. Industrial diversification and targeted M&A remain key growth drivers.