CHICAGO — Littelfuse, Inc. reported financial results for the third quarter ended October 1, 2022:
- Net sales of $658.9 million were up 22% versus the prior year period, and up 8% organically
- GAAP diluted EPS was $3.02; adjusted diluted EPS was $4.28, up 8% versus the prior year period
- Cash flow from operations was $148.1 million; free cash flow was $126.5 million, 41% higher than the prior year period
- On September 29, the company released its 2021 Sustainability Report
“In the third quarter, we continued the outstanding performance we achieved during the first half of this year, once again exceeding our expectations,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Our strong results were driven by growth from global business wins, additions from acquisitions, and progress on our operational excellence initiatives. Our significant achievements to date position us for ongoing long-term profitable growth within the mega themes of sustainability, connectivity, and safety.”
Fourth Quarter of 2022
Based on current market conditions, for the fourth quarter the company expects,
- Net sales in the range of $603 to $623 million, the midpoint of which represents 11% growth over the prior year and 4% organic growth; includes an approximately 700 basis point year-over-year sales headwind from foreign exchange and last year’s extra “14th week”
- Adjusted diluted EPS in the range of $3.14 to $3.34; the midpoint of which represents 11% growth over the prior year when excluding last year’s combined $0.25 benefit from a tax holiday and “14th week”
Dividend
- The company will pay a cash dividend on its common stock of $0.60 per share on December 8, 2022, to shareholders of record as of November 24, 2022