Slide 1: Q1 2023 Earnings Release
Q1 2023 EARNINGS RELEASE May 2, 2023 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: Q1 2023 Highlights
Q1 2023 HIGHLIGHTS ▪ Strong financial performance above guidance ▪ Revenue $610m ▪ Adj. Operating Margin 19% ▪ Adj. Diluted EPS $3.64 ▪ Adj. EBITDA 25% ▪ Resiliency of business model & strength of execution deliver strong profitability ▪ Strategy-led acquisitions drive long-term profitable growth ▪
Slide 5: Western Automation Acquisition
WESTERN AUTOMATION ACQUISITION HEAVY FOCUS ON ELECTRIFICATION x x x EV Charger Fault Detection RCD Protection Arc Fault Detection x x x Expanded technologies for eMobility off-board charging infrastructure, industrial safety & renewables; Access to high-growth opportunities x Littelfuse, Inc. © 2023
Slide 6: 2021 – 2025 Growth Strategy
2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Our capabilities, investments & diversification deliver significant value Littelfuse, Inc. © 2023 6
Slide 7: Industrial End Markets Positioned for Accelerated Growth
INDUSTRIAL END MARKETS POSITIONED FOR ACCELERATED GROWTH Q1 2023 Highlights ▪ Breadth of portfolio & capabilities for high- power applications driving new business wins ▪ Sustainability & efficiency: renewables, energy storage, HVAC ▪ Safety: power supplies, industrial automation ▪ Expanding product
Slide 8: Transportation End Markets Extending Our Leadership Position
TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q1 2023 Highlights ▪ Passenger vehicle design win trajectory supports continued long-term double-digit content outgrowth ▪ Electrification: battery management systems, on- board chargers ▪ Electronification: telematics, comfort & convenien
Slide 9: Electronics End Markets Expanding Our Leadership
ELECTRONICS END MARKETS EXPANDING OUR LEADERSHIP Q1 2023 Highlights ▪ Close customer collaboration drives product innovation & design-in activity; robust wins ▪ Sustainability & efficiency: water meters, LED lighting ▪ Connectivity: communications infrastructure, home technologies ▪ Safety: critical
Slide 10: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 11: Q1 2023 Total Company Financial Performance
Q1 2023 TOTAL COMPANY FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-2%) vs PY, (-8%) organic ▪ Acquisitions +7%, F/X (-1%) ▪ GAAP operating margin 18.1%; adj. operating $623 $610 margin 19.0% ▪ Strong profitability led by operational execution ▪ Effective tax rate: GAAP 18.5%; a
Slide 12: Q1 2023 Electronics Segment Financial Performance
Q1 2023 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth (-2%) / organic (-12%) ▪ C&K Switches acq. main difference ▪ Continued strength of industrial & automotive $366 $359 markets & content growth, offset by softness across certain electronics end markets
Slide 13: Q1 2023 Transportation Segment Financial Performance
Q1 2023 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth (-10%) / organic (-8%) ▪ Continued segment wide customer & distributor inventory rebalancing ▪ Sequential margin improvements $185 ▪ Operating margin +160bps $167 ▪ Adj. EBITDA margin +180bps ▪ Exp
Slide 14: Q1 2023 Industrial Segment Financial Performance
Q1 2023 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue growth +16% / organic +13% ▪ Continued strong demand across numerous $85 end markets combined with focus on high $73 growth niches ▪ Renewables, energy storage & industrial automation & safety Q1-22 Q1-23 ▪ S
Slide 15: Q2 2023 Guidance
Q2 2023 GUIDANCE (in millions) Highlights Revenue ▪ Macro view…similar to 90 days ago ▪ Continued growth in industrial, electrification themes ▪ Modest passenger & comm. vehicle market growth ▪ Softness across certain electronics markets ▪ Ongoing inventory rebalancing across Electronics & $633 - Tr
Slide 16: Full Year 2023 Considerations / Expectations
FULL YEAR 2023 CONSIDERATIONS / EXPECTATIONS ▪ F/X (-$0.35) EPS impact, neutral to sales at current F/X rates ▪ Expect to maintain company adjusted operating margins of 17 – 19%...long- term target range ▪ Other Assumptions ▪ $67m amortization expense ▪ $40m interest expense at current rates ▪ Tax r
Slide 17: Diversification Delivers Double-Digit Revenue & Earnings CAGR
DIVERSIFICATION OF TECHNOLOGIES, END MARKETS & GEOGRAPHIES DELIVERS DOUBLE-DIGIT REVENUE & EARNINGS CAGR $18.00 $2,500 15-, 10-, 5-yr CAGRs* ▪ Expanded Sales +11% to +16% $16.00 $2,250 Adj EPS +17% market leadership & $2,000 $14.00 profitability $1,750 $12.00 ▪ Playbook to successfully Sales $1,500
Slide 18: Appendix
APPENDIX Littelfuse, Inc. © 2023 18
Slide 19: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION Littelfuse, Inc. © 2023 19
Slide 20: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2023 20
Slide 21: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2023 21
Slide 22: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2023 22
Slide 23: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2023 23
Slide 24: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Littelfuse, Inc. © 2023 24