Slide 1: Q3 2022 Earnings Release
Q3 2022 EARNINGS RELEASE November 1, 2022 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: Q3 2022 & Recent Highlights
Q3 2022 & RECENT HIGHLIGHTS Continued outperformance, driven by global business wins, acquisitions & operational execution Q3: Delivered strong results above expectations YoY: Revenue +22%; Organic +8% despite FX headwinds Delivered margins & earnings growth above strategic long-term targets
Slide 5: 2021 – 2025 Growth Strategy
2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Double-Digit Best-in-Class Top-Tier Revenue Growth Profitability Shareholder Returns Outcomes Content & High-Growth Markets Strategic Share Gains & Geographies Acquisitions Our Growth Drivers Sustainability Connectivity
Slide 6: Commitment to Sustainability
COMMITMENT TO SUSTAINABILITY DIVERSE PEOPLE. BOLD SOLUTIONS. SUSTAINED SUCCESS. Environmental Social Governance Goals: Increasing global female Goals: Board oversight of Goal: Targeting Greenhouse Gas (GHG) leadership to at least 25%, and U.S. sustainability program & robust reduction of 38% by 2035
Slide 7: Industrial End Markets Positioned for Continued Growth
INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH Q3 2022 Highlights Expanding leadership with customers' focus on intensifying sustainability & safety Technical expertise & portfolio breadth secures significant new business in: Energy storage Alternative energy Commercial kitchens
Slide 8: Transportation End Markets Extending Our Leadership Position
TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q3 2022 Highlights Leveraging company-wide automotive technology portfolio & market trends to increase passenger vehicle leadership & content Double-digit content outgrowth* Increased average content across vehicles to ~$7.00 New b
Slide 9: Electronics End Markets Leveraging Our Leadership
ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP Q3 2022 Highlights Broader solutions & increased design-in activity within connectivity, sustainability & safety themes driving new business wins in: Data centers Building automation systems Battery power for power tools & e-bicycles Medica
Slide 10: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 11: Q3 2022 Financial Performance
Q3 2022 FINANCIAL PERFORMANCE FINANCIAL PERFORMANCE (in millions) Revenue Highlights Financial performance above high end of guidance on sales & earnings Revenue +22% vs PY, +8% organic $659 $540 GAAP operating margin 18.5%; Adjusted operating margin 21% Continuation of positive price/cost
Slide 12: Q3 2022 Electronics Segment Financial Performance
Q3 2022 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE (in millions) Highlights Revenue Revenue growth +15% / organic +7% Ongoing robust operating margins $398 Positive price/cost, volume, $347 productivity initiatives POS / end market demand solid across breadth of markets Q3-21 Q3-22 Softness
Slide 13: Q3 2022 Transportation Segment Financial Performance
Q3 2022 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights Revenue growth +46% / organic +4% Commercial vehicle +5% organic & $182 outperformance across Carling business $124 Passenger vehicle +3% organic; ongoing inventory unwind at Tier 1’s Q3-21 Q3-22 Op Margin 12
Slide 14: Q3 2022 Industrial Segment Financial Performance
Q3 2022 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights Revenue growth +17% / organic +18% YTD revenue growth +27% $80 Broad-based end market strength $68 >500bps margin expansion Price realization, manufacturing Q3-21 Q3-22 & supply chain improvements, faster Op
Slide 15: Q4 2022 Guidance
Q4 2022 GUIDANCE (in millions) Highlights Revenue Q4 sales typically sequentially down mid-single Sales +11% vs PY / +4% organic $603 (-7%) f/x & PY 14th week $553 - $623 EPS +11% vs PY, excl. $0.25 of PY one-time benefits (tax holiday & 14th week) ~(150) bps operating margin dilution from
Slide 16: Full Year Considerations/Expectations
FULL YEAR CONSIDERATIONS/EXPECTATIONS 2022: Expect to remain positive price/cost for full year in current market conditions ~$56M non-cash amortization expense ~$26M interest expense Adjusted effective tax rate ~18% ~100% free cash flow conversion; ~$105M – $115M capital expenditures 2023:
Slide 17: Q3 YTD 2022 Highlights vs Prior Year
Q3 YTD 2022 HIGHLIGHTS VS PRIOR YEAR Adj. Net Sales Adj. Diluted Operating Growth GAAP EPS EPS Margin +24% $11.21 $13.53 23.0% +13% Organic +35% +300 bps Top-tier performance to date; Organic growth trajectory combined with strategy-led acquisitions continue to strengthen & diversify business See ap
Slide 18: Resilient Growth Strategy & Business Model
RESILIENT GROWTH STRATEGY & BUSINESS MODEL $18.00 $2,500 15-yr CAGR* 10-yr CAGR* 5-yr CAGR* $2,250 Sales +11% Sales +14% Sales +16% $16.00 Expanded $2,000 Adj EPS +17% Adj EPS +17% Adj EPS +17% $14.00 market leadership & $1,750 $12.00 profitability Sales $1,500 EPS $10.00 $1,250 Playbook to succ
Slide 19: Q&A
Q&A Littelfuse, Inc. © 2021 19
Slide 20: Appendix
APPENDIX Littelfuse, Inc. © 2021 20
Slide 21: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION Littelfuse, Inc. © 2022 21
Slide 22: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 22
Slide 23: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 23
Slide 24: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 24