CHICAGO — Littelfuse, Inc. today reported financial results for the fourth quarter and full year ended December 28, 2024:
Fourth Quarter 2024 Results
- Net sales of $530 million were down 1% versus the prior year period and flat organically
- GAAP diluted loss per share was $1.57, which includes $93m in non-cash goodwill and intangible impairment charges
- Adjusted diluted EPS was $2.04
- Cash flow from operations was $161 million and free cash flow was $135 million
Full Year 2024 Results
- Net sales of $2.2 billion were down 7% versus the prior year period and organically
- GAAP diluted EPS was $4.51 adjusted diluted EPS was $8.48
- Cash flow from operations was $368 million and free cash flow was $292 million
“Our fourth quarter performance, which was in-line with our expectations, reflects ongoing operational execution and our steadfast commitment to our diverse and global customer base,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “For the full year 2024, we delivered strong cash conversion while our focused profitability enhancements drove solid second half margin expansion amid difficult end market conditions. Our continued design win momentum, meaningful content opportunities, broad end market exposures and operational improvements position us well as we expect to deliver solid earnings expansion in 2025.”
First Quarter of 2025*
Based on current market conditions, for the first quarter the company expects,
- Net sales in the range of $520 – $550 million, adjusted diluted EPS in the range of $1.70 – $1.90 and an adjusted effective tax rate of approximately 26%
*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 $0.70 per share on March 6, 2025, to shareholders of record as of February 20, 2025