Littelfuse 2Q Sales and EPS Exceed Guidance

• Net sales of $558 million were down 9% versus the prior year period, and down 8% organically
• GAAP diluted EPS was $1.82 and adjusted diluted EPS was $1.97
• Cash flow from operations was $69 million and free cash flow was $50 million
• The company’s Board of Directors approved an 8% increase in the quarterly cash dividend from $0.65 to $0.70; this equates to an annualized dividend of $2.80 per share
• On June 26, the company released its 2023 Sustainability Report on littelfuse.com/about-us/sustainability

“We are pleased to have exceeded the high end of our second quarter sales and adjusted EPS guidance ranges, driven by solid execution from our global teams and supported by our resilient business model and diverse technology positioning,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Looking ahead, we remain confident in an expected return to growth during 2024, likely in the fourth quarter. We see some pockets of normalized channel inventory and improving end demand but also ongoing signs of cautiousness from customers. We remain well positioned to execute our proven long-term growth strategy and deliver top tier stakeholder value.”

Third Quarter of 2024*

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

• Net sales in the range of $540 – $570 million, adjusted diluted EPS in the range of $1.95 – $2.15 and an adjusted effective tax rate of approximately 26%

Dividend and Share Repurchase Authorization

• The company will pay a cash dividend on its common stock of $0.70 per share on September 5, 2024, to shareholders of record as of August 22, 2024

*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.