Littelfuse Reports Third Quarter Results For 2021

About this update from Littelfuse, Inc.

[{"type":"text","content":"\nRecord sales and earnings driven by strong business fundamentals\n\n CHICAGO--(BUSINESS WIRE)--\nLittelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the third quarter ended September 25, 2021:\n\n\nNet sales of $539.6 million primarily driven by stronger than expected demand across the electronics segment\n\n\nGAAP operating margin was 22.3%; adjusted operating margin was 22.8%\n\n\nGAAP diluted EPS of $3.69 and adjusted diluted EPS of $3.95\n\n\nCash flow from operations was $114.3 million and free cash flow was $89.4 million\n\n\nOn October 20, the company announced it has entered into a definitive agreement to acquire Carling Technologies, Inc., a global leader in switching, circuit protection, and power distribution technologies with a strong presence in commercial vehicle and telecom infrastructure markets; the company has annualized sales of approximately $170 million\n\n\n“Our ability to effectively execute within this challenging environment enabled us to deliver a quarter of outstanding performance,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Across our global footprint, our highly skilled teams are continuously improving our operations to meet customer demand, and our results reflect their commitment and hard work. We also made further progress on our growth strategy and are excited to welcome Carling Technologies employees to the Littelfuse team. As we near the end of a challenging 2021, we are poised to achieve significant sales and earnings growth this year, and remain well-positioned to deliver ongoing superior value for our stakeholders.”\n\nFourth Quarter of 2021*\n\nFor the fourth quarter, the company expects net sales in the range of $503 to $517 million and adjusted diluted EPS in the range of $2.80 to $2.96.\n\n*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 wi...

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