Littelfuse, Inc. reported financial results for the second quarter ended June 29, 2024:

  • Net sales of $558 million were down 9% versus the prior year period, and down 8% organically
  • GAAP diluted EPS was $1.82 and adjusted diluted EPS was $1.97
  • Cash flow from operations was $69 million and free cash flow was $50 million
  • The company’s Board of Directors approved an 8% increase in the quarterly cash dividend from $0.65 to $0.70; this equates to an annualized dividend of $2.80 per share
  • On June 26, the company released its 2023 Sustainability Report on littelfuse.com/about-us/sustainability

“We are pleased to have exceeded the high end of our second quarter sales and adjusted EPS guidance ranges, driven by solid execution from our global teams and supported by our resilient business model and diverse technology positioning.” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Looking ahead, we remain confident in an expected return to growth during 2024, likely in the fourth quarter. We see some pockets of normalized channel inventory and improving end demand but also ongoing signs of cautiousness from customers. We remain well positioned to execute our proven long-term growth strategy and deliver top tier stakeholder value.”

Original – Littelfuse