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Sep 30, 2023
Littelfuse Q3 2023 Earnings Report
Reported strong execution that drove performance above guidance.
Key Takeaways
Littelfuse reported Q3 2023 results with sales and earnings exceeding expectations despite end market softness and inventory destocking. Net sales were $607.1 million, down 8% year-over-year, with a GAAP diluted EPS of $2.30 and an adjusted diluted EPS of $2.97. Cash flow from operations was $161.5 million and free cash flow was $139.8 million.
Net sales of $607.1 million were down 8% versus the prior year period, and down 11% organically
GAAP diluted EPS was $2.30; adjusted diluted EPS was $2.97
Cash flow from operations was $161.5 million and free cash flow was $139.8 million
Company will pay a cash dividend on its common stock of $0.65 per share on December 7, 2023, to shareholders of record as of November 23, 2023.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2023, the company expects net sales in the range of $520 to $550 million, adjusted diluted EPS in the range of $1.90 to $2.10 and an adjusted effective tax rate of approximately 18%.
Positive Outlook
- Net sales in the range of $520 to $550 million
- Adjusted diluted EPS in the range of $1.90 to $2.10
- Adjusted effective tax rate of approximately 18%
- Improved cost structure
- Healthy balance sheet
Challenges Ahead
- Dynamic macro conditions likely persist
- Pockets of end market softness
- Ongoing inventory destocking
- Acquisition and integration costs
- Restructuring, impairment and other charges
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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