Slide 1: Q4 2024 Earnings Release
Q4 2024 EARNINGS RELEASE JANUARY 28, 2025 1
Slide 2: Disclaimers
DISCLAIMERS Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided he
Slide 3: Business Update
BUSINESS UPDATE Dave Heinzmann, President & CEO
Slide 4: Executive Summary
EXECUTIVE SUMMARY ▪ Operational execution, diverse business model drive Q4 results within prior guided range ▪ Flat organic sales amid mixed environment across end markets ▪ FY 2024 progression reflects unwavering customer focus, profitability enhancements ▪ Continued focus on customer driven innova
Slide 5: 2021 – 2025 Growth Strategy
2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Our capabilities, investments & diversification deliver significant value Littelfuse, Inc. © 2025 5
Slide 6: Electronics End Markets: Global Customer Reach, Broad Capabilities
ELECTRONICS END MARKETS GLOBAL CUSTOMER REACH, BROAD CAPABILITIES 2024 Highlights ▪ Strong data center & solid medical performance, offset by subdued consumer products, appliance & building technology application demand ▪ Continued solid global design-in activity, traction with broad customers ▪ Ong
Slide 7: Transportation End Markets: Balanced Technologies, Global Scale
TRANSPORTATION END MARKETS BALANCED TECHNOLOGIES, GLOBAL SCALE 2024 Highlights ▪ Leveraging global positioning to drive content opportunities amid declining underlying global car build ▪ Solid FY China auto growth ▪ Strong commercial vehicle execution & actions offset by continued soft end demand co
Slide 8: Industrial End Markets
INDUSTRIAL END MARKETS INNOVATIVE SOLUTIONS, DIVERSE SECTOR EXPOSURE 2024 Highlights ▪ Innovating amid mixed 2024 industrial demand ▪ Solid HVAC, industrial safety & renewable performance ▪ Ongoing weak conditions in Europe, led by soft industrial equipment & factory automation demand ▪ More pronoun
Slide 9: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 10: Q4 2024 Total Company Financial Performance
Q4 2024 TOTAL COMPANY FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-1%) reported & flat organically vs PY ▪ Includes ~2% portfolio pruning headwind ▪ GAAP op margin (-6.9%); Adjusted op margin $534 12.0% $530 ▪ Soft Electronics sales & related deleverage offset operational execu
Slide 11: FY 2024 Total Company Financial Performance
FY 2024 TOTAL COMPANY FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-7%) vs PY (reported & organic) ▪ Includes ~2% portfolio pruning headwind ▪ GAAP op margin 7.8%; Adjusted op margin $2,363 $2,191 12.9% ▪ Lower sales & related deleverage offset operational execution ▪ 30bps unfa
Slide 12: Cash Generation & Capital Deployment
CASH GENERATION & CAPITAL DEPLOYMENT ▪ Well-positioned business model & execution drive robust long- term cash generation ▪ Disciplined approach to working capital management ▪ Strong balance sheet supports capital deployment strategy ▪ Net leverage ratio ~1.2x ▪ Prioritizing growth investments ▪ 20
Slide 13: Q4 & FY 2024 Electronics Segment Financial Performance
Q4 & FY 2024 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE (in millions) Q4 2024 Revenue FY 2024 Revenue $298 $286 $1,350 $1,187 Q4-23 Q4-24 FY-23 FY-24 Op Margin 18.0% 12.3% Op Margin 22.3% 14.2% Adj. EBITDA% 24.7% 19.3% Adj. EBITDA% 28.1% 20.9% ▪ Revenue (-4%) / Organic ▪ Revenue (-12%) / Organic ▪ Pa
Slide 14: Q4 & FY 2024 Transportation Segment Financial Performance
Q4 & FY 2024 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE (in millions) Q4 2024 Revenue FY 2024 Revenue $678 $672 $163 $162 Q4-23 Q4-24 FY-23 FY-24 Op Margin 4.7% 9.0% Op Margin 5.0% 10.3% Adj. EBITDA% 10.8% 14.5% Adj. EBITDA% 11.2% 15.6% ▪ Revenue (-1%) / Organic ▪ Revenue (-1%) / Organic ▪ Passeng
Slide 15: Q4 & FY 2024 Industrial Segment Financial Performance
Q4 & FY 2024 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE (in millions) Q4 2024 Revenue FY 2024 Revenue $82 $334 $332 $73 Q4-23 Q4-24 FY-23 FY-24 Op Margin 12.7% 17.1% Op Margin 16.4% 13.9% Adj. EBITDA% 18.2% 20.8% Adj. EBITDA% 21.1% 18.4% ▪ Revenue +12% / Organic ▪ Revenue (-1%) / Organic ▪ Solid HVAC
Slide 16: Q1 2025 Guidance
Q1 2025 GUIDANCE (in millions) Revenue Highlights ▪ Macro view…Into 2025, seeing mixed underlying conditions but improving order trends ▪ Continued passives product recovery, soft Q1 semiconductor demand ▪ Transportation: projected low single-digit global $520 - $535 $530 car build declines, CV reco
Slide 17: Full Year 2025 Considerations / Expectations
FULL YEAR 2025 CONSIDERATIONS / EXPECTATIONS ▪ Expecting a return to growth & solid FY margin expansion ▪ FY Elmos capacity sharing agreement impact…+2% growth to Company sales, Neutral EPS impact (Dortmund fab acquisition) ▪ F/X & Commodities: (1%) headwind to sales; ~+$0.22 benefit to EPS, +30 bps
Slide 18: Appendix
Appendix Littelfuse, Inc. © 2024 18
Slide 19: Supplemental Financial Information: Non-GAAP EPS Reconciliation
SUPPLEMENTAL FINANCIAL INFORMATION Non-GAAP EPS reconciliation Q4-24 Q4-23 YTD-24 YTD-23 GAAP diluted EPS $ (1.57) $ 1.71 $ 4.51 $ 10.34 EPS impact of Non-GAAP adjustments (below) 3.61 0.31 3.97 1.40 Adjusted diluted EPS $ 2.04 $ 2.02 $ 8.48 $ 11.74 Non-GAAP adjustments - (income) / expense ( in mil
Slide 20: Adjusted Operating Margin / Adjusted EBITDA Reconciliation
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Adjusted operating margin / Adjusted EBITDA reconciliation (in millions) Q4-24 Q4-23 YTD-24 YTD-23 Net (loss) income $ (39.0) $ 42.9 $ 113.0 $ 259.5 Add: Income taxes 9.1 16.1 51.7 69.1 Interest expense 9.4 10.1 38.7 39.9 Foreign exchange (gain) loss (13.5)
Slide 21: Adjusted EBITDA by Segment Q4
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Adjusted EBITDA by Segment ( in millions) Q4-24 Q4-23 Electronics Transportation Industrial Electronics Transportation Industrial GAAP operating income $ 35.2 $ 14.6 $ 14.0 $ 53.6 $ 7.6 $ 9.4 Add: Add back amortization 9.8 3.4 1.5 9.8 3.6 2.6 Add back deprec
Slide 22: Adjusted EBITDA by Segment YTD
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Adjusted EBITDA by Segment ( in millions) YTD-24 YTD-23 Electronics Transportation Industrial Electronics Transportation Industrial GAAP operating income $ 168.0 $ 69.5 $ 46.0 $ 300.6 $ 33.6 $ 54.8 Add: Add back amortization 39.4 13.5 9.2 39.9 15.8 10.1 Add
Slide 23: Net Sales Reconciliation Q4-24 vs. Q4-23
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Net sales reconciliation Q4-24 vs. Q4-23 Electronics Transportation Industrial Total Net sales (decline) growth (4)% (1)% 12 % (1)% Less: FX impact —% —% —% —% Organic net sales (decline) growth (4)% (1)% 12 % —% Electronics segment net sales reconciliation
Slide 24: Net Sales Reconciliation YTD-24 vs. YTD-23
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Net sales reconciliation YTD-24 vs. YTD-23 Electronics Transportation Industrial Total Net sales decline (12)% (1)% (1)% (7)% Less: FX impact —% —% —% —% Organic net sales decline (12)% (1)% (1)% (7)% Electronics segment net sales reconciliation YTD-24 vs. Y
Slide 25: Income Tax and Free Cash Flow Reconciliation
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Income tax reconciliation Q4-24 Q4-23 YTD-24 YTD-23 Income taxes $ 9.1 $ 16.1 $ 51.7 $ 69.1 Effective rate (30.4)% 27.3 % 31.4 % 21.0 % Non-GAAP adjustments - income taxes (1.5) 1.8 4.7 5.0 Adjusted income taxes $ 7.6 $ 17.9 $ 56.4 $ 74.1 Adjusted effective
Slide 26: Consolidated Total Debt and Net Debt
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D ( in millions) Consolidated Total Debt As of December 28, 2024 Consolidated Total Debt $ 856.1 * Our Credit Agreement and Private Placement Note with maturities ranging from 2024 to 2032, Unamortized debt issuance costs 2.8 contain financial ratio covenants
Slide 27: Non-GAAP EPS Reconciliation Q1-24
SUPPLEMENTAL FINANCIAL INFORMATION CONT'D Non-GAAP EPS reconciliation Q1-24 GAAP diluted EPS $ 1.93 EPS impact of Non-GAAP adjustments (below) (0.17) Adjusted diluted EPS $ 1.76 Non-GAAP adjustments - (income) / expense ( in millions) Q1-24 Acquisition-related and integration costs (a) $ 0.9 Restruc