Slide 1: Q2 2022 Earnings Release
Q2 2022 EARNINGS RELEASE August 2, 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: Q2 2022 & Recent Highlights
Q2 2022 & RECENT HIGHLIGHTS ▪ Continued outperformance, driven by persistent operational execution ▪ Q2: Delivered very strong results above expectations ▪ YoY: Revenue +18%; Adjusted Diluted EPS +25% ▪ Adjusted EBITDA Margin 27% ▪ Record performance year-to-date ▪ YoY: Revenue +26%; Adjusted Operat
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: C&K Switches Acquisition Rationale
C&K SWITCHES ACQUISITION RATIONALE ACQUIRED JULY 2022 NOW PART OF Switches Interconnect Solutions Consistent with strategic M&A priorities Wire Harnesses Littelfuse, Inc. © 2022 6
Slide 7: Littelfuse & C&K Switches: Combination of Two Industry Leading Brands
LITTELFUSE & C&K SWITCHES: COMBINATION OF TWO INDUSTRY LEADING BRANDS EXPANDS COMPLEMENTARY MARKET POSITIONS Accelerates Growth in Expansion of Leverages Enables Strategic Applications & Technologies & Complementary Combined Markets Capabilities Customers & Channels Critical Scale ▪ Strong global pr
Slide 8: Industrial End Markets Positioned for Continued Growth
INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH Q2 2022 Highlights ▪ Generating new business with application knowledge & diverse, high-quality offerings; capitalizing on sustainability & safety ▪ Expanding solution sets with multiple technologies for energy storage, solar & HVAC applications
Slide 9: Transportation End Markets Extending Our Leadership Position
TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q2 2022 Highlights ▪ Expanding e-mobility wins within ▪ Passenger vehicles … battery management & protection, power distribution & on-board chargers ▪ Commercial vehicles … battery management & powertrain control modules for buses & two/th
Slide 10: Electronics End Markets Leveraging Our Leadership
ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP Q2 2022 Highlights ▪ Capitalizing on robust design activity with greater connectivity, safety & sustainability requirements ▪ Product features & go-to-market model secured new business within ▪ Data centers & telecom infrastructure ▪ Building solutio
Slide 11: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 12: Q2 2022 Financial Performance
Q2 2022 FINANCIAL PERFORMANCE (in millions) Highlights Revenue ▪ Financial performance above high end of guidance on sales & earnings ▪ Revenue +18% vs. prior year, +10% organic ▪ Growth across all regions $618 $523 ▪ GAAP operating margin 21.7%; Adjusted operating margin 22.6%, +310 bps vs prior ye
Slide 13: Prioritized Deployment of Cash
PRIORITIZED DEPLOYMENT OF CASH GROWTH INVESTMENTS DRIVE INCREASING VALUE FOR SHAREHOLDERS ORGANIC INORGANIC RETURN TO SHAREHOLDERS INVESTMENTS INVESTMENTS Programs that: • Strategic acquisitions Dividends Share to enhance organic Repurchases • Drive revenue growth growth • 10+ years of growing • Opp
Slide 14: Q2 2022 Electronics Segment Financial Performance
Q2 2022 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth +10% / organic +13% ▪ +600bps margin expansion $325 $358 ▪ Price/cost, volume & productivity improvements ▪ Project average mid 20’s op margin % Q2-21 Q2-22 ▪ Combination of execution & current Op Mar
Slide 15: Q2 2022 Transportation Segment Financial Performance
Q2 2022 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth +37% / organic (-4%) ▪ Commercial vehicle +6% organic & $182 outperformance across Carling business $133 ▪ Passenger vehicle (-8%) organic; impacted by market … Tier 1 inventory unwind & Q2-21 Q2-2
Slide 16: Q2 2022 Industrial Segment Financial Performance
Q2 2022 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth +21% / organic +22% $65 $78 ▪ +600bps margin expansion ▪ Price realization & ongoing operational execution ▪ Reduced logistics costs in the quarter Q2-21 Q2-22 due to COVID shutdown in China Op Margin
Slide 17: Q3 2022 Guidance
Q3 2022 GUIDANCE (in millions) Highlights Revenue ▪ Demand remains strong across most end markets ▪ Ongoing strength across industrial, transportation, most electronics markets ▪ Some softness in consumer-oriented end markets within Electronics segment...appliances $630 & personal electronics $540 -
Slide 18: 2022 Full Year Considerations/Expectations
2022 FULL YEAR CONSIDERATIONS/EXPECTATIONS ▪ Expect to remain positive price/cost for full year in current market conditions ▪ ~300bps (~$60M) sales f/x headwind ▪ C&K Switches: $90 - $95M in sales, ~$.25 EPS (5 ½ months) ▪ ~$55M non-cash amortization expense (including C&K); forward run rate ~$16M/
Slide 19: Key Takeaways
KEY TAKEAWAYS ▪ Recognition of global teams for their unwavering commitment & hard work to drive results ▪ Very strong year-to-date performance ▪ Ongoing deployment of resources & capital to enable customers' applications ▪ Extremely well positioned for long-term growth within global structural them
Slide 20: Q&A
Q&A Littelfuse, Inc. © 2021 20
Slide 21: Appendix
APPENDIX Littelfuse, Inc. © 2021 21
Slide 22: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION 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
Slide 25: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2022 25