Slide 1: Q3 2023 Earnings Release
Q3 2023 EARNINGS RELEASE October 31, 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: Q3 2023 Summary
Q3 2023 SUMMARY ▪ Solid financial results within a challenging macro environment ▪ Revenue & Adj. EPS exceed guidance ▪ Resilient business model delivers strong year-to-date cash generation ▪ Continued varied market dynamics ▪ Strong automotive content outgrowth ▪ Mixed industrial market trends ▪ On
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. © 2023 5
Slide 6: Industrial End Markets Positioned for Long-Term Growth
INDUSTRIAL END MARKETS POSITIONED FOR LONG-TERM GROWTH Q3 2023 Highlights ▪ Broad solutions-focused portfolio delivering global wins for industrial safety, renewables & energy storage ▪ Technical expertise enabling next generation advancements in sustainability & safety applications ▪ Evolving safet
Slide 7: Transportation End Markets Extending Our Leadership Position
TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q3 2023 Highlights ▪ Continued double-digit content outgrowth for broad portfolio of leading passenger vehicle products ▪ Electrification & electronification continue to expand & deliver new business opportunities ▪ Commercial vehicle new
Slide 8: Electronics End Markets Expanding Our Leadership
ELECTRONICS END MARKETS EXPANDING OUR LEADERSHIP Q3 2023 Highlights ▪ Robust design activity for next generation applications ▪ Safety – medical lifesaving & implantable devices ▪ Connectivity – building security ▪ Sustainability – smart water meters, LED lighting ▪ Breadth of product portfolio incr
Slide 9: Financial Update
FINANCIAL UPDATE Meenal Sethna, EVP & CFO
Slide 10: Q3 2023 Total Company Financial Performance
Q3 2023 TOTAL COMPANY FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-8%) / (-11%) organic, vs. PY ▪ Acquisitions +2%, F/X +1% ▪ Margins $659 ▪ Q3: GAAP operating 15.4%; adjusted 16.5% $607 ▪ YTD: GAAP operating 16.2%; adjusted 17.4%; adjusted EBITDA margin 23.1% ▪ Cash Flow ▪ Q3:
Slide 11: Q3 2023 Electronics Segment Financial Performance
Q3 2023 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-14%) / organic (-17%), vs. PY ▪ Stronger than expected, worked through semiconductor backlog $398 $344 ▪ Continued softness within consumer & personal electronics, datacom; Partial offset from medical, aut
Slide 12: Q3 2023 Transportation Segment Financial Performance
Q3 2023 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue (-3%) / organic (-4%), vs. PY ▪ Passenger vehicle growth +12% ▪ Several new platform launches, mainly $182 $177 China ▪ Commercial vehicle business (-16%) ▪ Continued inventory destocking, ongoing China
Slide 13: Q3 2023 Industrial Segment Financial Performance
Q3 2023 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE (in millions) Revenue Highlights ▪ Revenue +8% / organic +5%, vs. PY ▪ Continued wins across higher-growth $86 $80 end markets ▪ Renewables, energy storage & EV infrastructure Q3-22 Q3-23 ▪ Maintained strong profitability amidst Op Margin 15.3% 15.3%
Slide 14: Q4 2023 Guidance
Q4 2023 GUIDANCE (in millions) Revenue Highlights ▪ Q4 macro view…expect continuation into 2024 ▪ Continued reduction of inventory across distribution partners & some of our OEMs ▪ Some industrial end market softness $613 $607 $550 - $520 ▪ Q4 Sales (-13%) vs. PY; (-12%) sequential ▪ Decline across
Slide 15: Full Year 2023 Considerations / Expectations
FULL YEAR 2023 CONSIDERATIONS / EXPECTATIONS ▪ Better than historical financial performance vs. prior market cycles ▪ Positioned for upper-teens FY23 operating margin ▪ F/X neutral to sales at current F/X rates, ~(-$0.35) EPS impact ▪ ~(-50bps) impact to margins ▪ Other Assumptions ▪ $66m amortizati
Slide 16: Diversification Delivers Double-Digit Revenue & Earnings CAGR
DIVERSIFICATION OF TECHNOLOGIES, END MARKETS & GEOGRAPHIES DELIVERS DOUBLE-DIGIT REVENUE & EARNINGS CAGR ▪ Expanding leadership in core ‘08 – ’23F* CAGR: Sales +10% markets while prioritizing EPS +18% strategic investments to bolster diversified portfolio ▪ Flexible cost structure to drive improved
Slide 17: Appendix
APPENDIX Littelfuse, Inc. © 2023 17
Slide 18: Supplemental Financial Information
SUPPLEMENTAL FINANCIAL INFORMATION Littelfuse, Inc. © 2023 18
Slide 19: Supplemental Financial Information Cont'd
SUPPLEMENTAL FINANCIAL INFORMATION CONT’D 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