Littelfuse (NASDAQ: LFUS) posts 19% Q1 2026 sales gain and higher EPS
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Littelfuse, Inc. reported strong first quarter 2026 results, with net sales of $656.97 million, up 19% from $554.31 million a year earlier, including 9% organic growth. Net income rose to $75.15 million from $43.57 million, and GAAP diluted EPS increased to $2.96 from $1.75. Adjusted diluted EPS was $3.31 versus $2.19, reflecting higher volumes and improved margins.
GAAP operating margin expanded to 15.4% from 12.7%, while adjusted EBITDA margin improved to 22.9% from 20.1%. Free cash flow reached $66.2 million, up 55%. By segment, electronics revenue grew 18%, transportation 5%, and industrial 45%, supported by the Basler acquisition. For Q2 2026, Littelfuse guides to net sales of $690–$710 million and adjusted EPS of $3.65–$3.85, with an expected adjusted tax rate of 21%–22%.
Positive
- Broad-based top-line growth: Q1 2026 net sales rose 19% year over year to $656.97 million, with 9% organic growth and contributions from FX and the Basler acquisition.
- Strong earnings and margin expansion: GAAP diluted EPS increased to $2.96 from $1.75, adjusted EPS to $3.31 from $2.19, and adjusted EBITDA margin improved to 22.9% from 20.1%.
- Robust cash generation and moderate leverage: Free cash flow grew 55% to $66.2 million, and the disclosed consolidated net leverage ratio was 1.0x, within covenant limits.
- Supportive Q2 guidance: Management expects Q2 2026 net sales of $690–$710 million and adjusted EPS of $3.65–$3.85, implying continued growth versus the prior year.
Negative
- None.
Insights
Q1 2026 showed broad-based growth, margin expansion, strong cash flow, and upbeat Q2 guidance.
Littelfuse delivered 19% revenue growth to $656.97 million with 9% organic, while GAAP EPS rose to $2.96 and adjusted EPS to $3.31. All three segments grew, notably industrial at 45% with Basler adding 39 points of growth.
Profitability improved meaningfully: GAAP operating margin expanded from 12.7% to 15.4%, and adjusted EBITDA margin from 20.1% to 22.9%. Free cash flow of $66.2 million was up 55%, and the consolidated net leverage ratio stands at 1.0x, indicating moderate balance sheet risk based on disclosed covenants.
Guidance implies continued momentum, with Q2 2026 revenue expected between $690 million and $710 million and adjusted EPS of $3.65–$3.85. Actual outcomes will depend on execution, especially integrating Basler, and on end-market conditions in data center, grid infrastructure, and transportation noted in the company’s outlook.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 net sales: $656.97M
Q1 2026 GAAP diluted EPS: $2.96
Q1 2026 adjusted diluted EPS: $3.31
+5 more
8 metrics
Q1 2026 net sales
$656.97M
Quarter ended March 28, 2026; up from $554.31M in Q1 2025
Q1 2026 GAAP diluted EPS
$2.96
Up from $1.75 in Q1 2025
Q1 2026 adjusted diluted EPS
$3.31
Up from $2.19 in Q1 2025
Q1 2026 adjusted EBITDA margin
22.9%
Improved from 20.1% in Q1 2025
Q1 2026 free cash flow
$66.2M
Up from $42.7M in Q1 2025
Q2 2026 revenue guidance
$690M–$710M
Company guidance range for second quarter 2026
Q2 2026 adjusted EPS guidance
$3.65–$3.85
Company guidance range for second quarter 2026
Consolidated net leverage ratio
1.0x
As of March 28, 2026 under credit agreement
Key Terms
adjusted EBITDA, organic net sales growth, free cash flow, consolidated net leverage ratio, +2 more
6 terms
adjusted EBITDA financial
"GAAP operating margin of 15.4%, +270 bps; Adjusted EBITDA margin of 22.9%, +280 bps"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
organic net sales growth financial
"Net sales of $657 million, +19%; organic growth contributed +9%"
Organic net sales growth measures how much a company’s core revenue rose from its existing operations, excluding effects from buying or selling businesses and from changes in currency values. Investors use it to see whether customers are actually buying more or paying higher prices — like checking growth from the same orchard year-to-year rather than counting fruit from newly added orchards — which helps assess true demand and underlying business health.
free cash flow financial
"Cash flow from operations of $80 million; free cash flow of $66 million, +55%"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
consolidated net leverage ratio financial
"Consolidated Net Leverage Ratio (as defined in the Credit Agreement) * 1.0x"
The consolidated net leverage ratio measures how much debt a company carries compared with the cash it generates from core operations, calculated by taking total borrowings minus cash and dividing by annual operating profit. Like comparing a household’s mortgage balance to its yearly income, it tells investors how many years of operating profit would be needed to pay off net debt and thus gauges financial risk, flexibility to invest, and capacity to weather downturns.
Basler acquisition financial
"contributions from the Basler acquisition. Demand strength remains broad based"
Non-GAAP financial measures financial
"may include non-GAAP financial measures including organic net sales (decline) growth, adjusted operating income"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Earnings Snapshot
Revenue: $656.97M · Guidance included
Q1 2026
Revenue
$656.97M
+19% YoY
Net income
$75.15M
up from $43.57M in Q1 2025
GAAP diluted EPS
$2.96
up from $1.75 in Q1 2025
Adjusted diluted EPS
$3.31
up from $2.19 in Q1 2025
Adjusted EBITDA margin
22.9%
up from 20.1% in Q1 2025
Free cash flow
$66.2M
up from $42.7M in Q1 2025
Q2 2026 revenue guidance
$690M–$710M
vs. $613M in Q2 2025
Q2 2026 adjusted EPS guidance
$3.65–$3.85
vs. $2.85 in Q2 2025
Guidance
For Q2 2026, Littelfuse expects net sales of $690–$710 million, adjusted diluted EPS of $3.65–$3.85, and an adjusted effective tax rate of 21%–22%, based on current market conditions.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
| WASHINGTON, D.C. 20579 | ||
FORM 8-K
| CURRENT REPORT | ||
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: May 6, 2026
(Date of earliest event reported)
LITTELFUSE, INC.
(Exact name of registrant as specified in its charter)
| (State of other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (773 ) 628-1000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition | ||||
The information contained within Item 2.02 of this Form 8-K and the Exhibits attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
On May 6, 2026, Littelfuse, Inc. (the “Company”) issued a press release announcing the results of its operations for the quarter ended March 28, 2026. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and incorporated by reference to this Item 2.02 as if fully set forth herein. A copy of the press release will also be available on the Company’s website.
| Item 7.01 | Regulation FD Disclosure | ||||
To supplement the information in the attached press release, the Company has also prepared a presentation, which will be available on the Company’s website at https://investor.littelfuse.com/events-and-presentations and is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.
The information contained in the press release and investor presentation attached to this Form 8-K includes forward-looking statements that are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to comments with respect to the objectives and strategies, financial condition, results of operations and business of the Company. These forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not be achieved. The Company cautions you not to place undue reliance on these forward-looking statements as a number of important factors could cause actual future results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements.
A copy of the press release is also posted on the Company's website.
| Item 9.01 | Financial Statements and Exhibits. | ||||
| (d) | Exhibits | |||||||
| The following exhibits are furnished with this Form 8-K: | ||||||||
99.1 Press Release dated May 6, 2026 | ||||||||
99.2 Littelfuse Presentation dated May 6, 2026 | ||||||||
| 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Littelfuse, Inc. | |||||
Date: May 6, 2026 | By: /s/ Abhishek Khandelwal | ||||
| Abhishek Khandelwal Executive Vice President and Chief Financial Officer | |||||
Exhibit 99.1
 |  | ||||
FOR IMMEDIATE RELEASE David Kelley 224-727-2535 dkelley@littelfuse.com | |||||
LITTELFUSE REPORTS FIRST QUARTER RESULTS FOR 2026
First Quarter 2026 Highlights:
(Year-over-year comparisons unless otherwise noted)
•Net sales of $657 million, +19%; organic growth contributed +9%
•Cash flow from operations of $80 million; free cash flow of $66 million, +55%
•GAAP diluted earnings per share of $2.96; Adjusted diluted earnings per share of $3.31
•GAAP operating margin of 15.4%, +270 bps; Adjusted EBITDA margin of 22.9%, +280 bps
CHICAGO, May 6, 2026 - Littelfuse, Inc. (NASDAQ: LFUS), a leader in developing smart solutions that enable safe and efficient electrical energy transfer, today reported financial results for the first quarter ended March 28, 2026:
“Our teams delivered a strong start to the year, with first quarter results exceeding our expectations,” said Greg Henderson, Littelfuse President and Chief Executive Officer. “We capitalized on solid market demand and executed well on our strategic priorities while leveraging our leadership in safe and efficient electrical energy transfer. Across all segments, we delivered growth and margin expansion, and we remain focused on driving growth opportunities, broadening our solutions portfolio, and advancing our operational excellence initiatives.”
Second Quarter of 2026*
“Looking ahead to the second quarter, we expect approximately 14% total revenue growth versus the prior year, supported by a strong backlog, continued customer momentum, and contributions from the Basler acquisition. Demand strength remains broad based, and we continue to partner closely with our customers to drive the ongoing evolution to higher power and higher energy density solutions.”
Based on current market conditions, for the second quarter the company expects,
•Net sales in the range of $690 - $710 million, adjusted diluted EPS in the range of $3.65 – $3.85 and an adjusted effective tax rate of 21% - 22%
-more-
Page 2
*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.
May 14, 2026 Investor Day
The Company will host an Investor Day in New York City on Thursday, May 14, 2026. Greg Henderson, President and CEO, Abhi Khandelwal, Executive Vice President and CFO, and other members of the executive leadership team will present an in-depth review of the company’s business strategy, growth drivers, and financial objectives. The event will also feature interactive Q&A sessions.
Presentations are expected to begin at 9:00 a.m. ET and conclude at 12:00 p.m. ET.
The live webcast, as well as the presentation materials, will be available to the public on the day of the event via the Investor Relations section of Littelfuse.com. The webcast replay will be available within 24 hours of the event and will be archived for 12 months.
First Quarter 2026 Segment Performance Highlights
Electronics Segment
•Net sales for the first quarter 2026 increased +18%. Organic sales increased +15% driven by improved passive products (+22% organic) sales. Semiconductor product (+8% organic) sales also contributed to growth driven by increased protection semiconductor volumes which more than offset lower power semiconductor sales. Favorable FX contributed +3% to growth.
•Adjusted EBITDA margin for the first quarter 2026 increased to 25.1% (+300 bps) primarily due to strong passive products and protection volume leverage.
Transportation Segment
•Net sales for the first quarter 2026 increased +5% as organic sales increased +1% while favorable FX contributed +4% to growth. Organic sales growth benefited from improved passenger vehicle organic sales (+4% organic) and favorable pricing, which offset lower commercial vehicle sales (-1% organic). Passenger vehicle strength was driven by content expansion, more than offsetting lower global passenger car builds and sensor declines in the first quarter. Lower commercial vehicle organic sales reflected the previously disclosed exit of the marine business.
•Adjusted EBITDA margin for the first quarter 2026 increased to 19.1% (+200 bps) driven by volume leverage and operational execution.
-more-
Page 3
Industrial Segment
•Net sales for the first quarter 2026 increased +45%. Organic sales increased +5% as improved grid & utility infrastructure and data center demand, along with favorable pricing, more than offset lower HVAC demand. The Basler acquisition and favorable FX also contributed +39% and +1% to growth, respectively.
•Adjusted EBITDA margin for the first quarter 2026 increased to 21.9% (+340 bps) driven by favorable volume leverage and mix.
Dividend
•The company will pay a cash dividend on its common stock of $0.75 per share on June 4, 2026, to shareholders of record as of May 21, 2026.
Conference Call and Webcast Information
Littelfuse will host a conference call on Wednesday, May 6, 2026, at 8:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company’s website at Littelfuse.com.
About Littelfuse
Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 17,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at Littelfuse.com.
-more-
Page 4
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.’s (“Littelfuse” or the “Company”) current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; economic conditions; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; changes in import and export duty and tariff rates; exchange rate fluctuations; commodity price fluctuations; the effect of the Company's accounting policies; labor disputes and shortages; restructuring costs in excess of expectations; pension plan asset returns less than assumed; uncertainties related to political or regulatory changes; integration of acquisitions may not be achieved in a timely manner, or at all; limited realization of the expected benefits from investment and strategic plans; the risk that expected benefits, synergies and growth prospects of the transaction with Basler may not be achieved in a timely manner, or at all; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 27, 2025.
Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 27, 2025, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.
-more-
Page 5
Non-GAAP Financial Measures
The information included in this press release and other materials filed with the SEC may include non-GAAP financial measures including organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, net debt, consolidated EBITDA, and consolidated net leverage ratio (as defined in the credit agreement). Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules. The company believes that organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor’s overall understanding of the company’s core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of its fundamental business operations or were not part of the company’s business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that net debt, consolidated EBITDA, and consolidated net leverage ratio are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that the company’s definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.
LFUS-F
###
| Littelfuse Inc. 6133 North River Road, Suite 500 Rosemont, Illinois 60018 p: (773) 628-1000 www.littelfuse.com | |||||
Page 5
LITTELFUSE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
| (Unaudited) | ||||||||||||||
| (in thousands, except share and per share data) | March 28, 2026 | December 27, 2025 | ||||||||||||
| ASSETS | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 481,697 | $ | 563,391 | ||||||||||
| Short-term investments | 279 | 287 | ||||||||||||
Trade receivables, less allowances of $79,896 and $77,073 at March 28, 2026 and December 27, 2025, respectively | 380,963 | 363,215 | ||||||||||||
| Inventories | 418,922 | 416,472 | ||||||||||||
| Prepaid income taxes and income taxes receivable | 5,240 | 6,137 | ||||||||||||
| Prepaid expenses and other current assets | 89,135 | 85,832 | ||||||||||||
| Total current assets | 1,376,236 | 1,435,334 | ||||||||||||
| Net property, plant, and equipment | 533,528 | 540,640 | ||||||||||||
| Intangible assets, net of amortization | 570,025 | 594,907 | ||||||||||||
| Goodwill | 1,209,792 | 1,211,411 | ||||||||||||
| Investments | 19,524 | 20,010 | ||||||||||||
| Deferred income taxes | 5,471 | 5,255 | ||||||||||||
| Right of use lease assets | 82,520 | 86,263 | ||||||||||||
| Other long-term assets | 60,455 | 62,976 | ||||||||||||
| Total assets | $ | 3,857,551 | $ | 3,956,796 | ||||||||||
| LIABILITIES AND EQUITY | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 222,666 | $ | 211,079 | ||||||||||
| Accrued liabilities | 170,787 | 199,271 | ||||||||||||
| Accrued income taxes | 33,354 | 26,186 | ||||||||||||
| Current portion of long-term debt | 100,483 | 96,233 | ||||||||||||
| Total current liabilities | 527,290 | 532,769 | ||||||||||||
| Long-term debt, less current portion | 531,049 | 706,394 | ||||||||||||
| Deferred income taxes | 101,612 | 102,335 | ||||||||||||
| Accrued post-retirement benefits | 39,084 | 38,733 | ||||||||||||
| Non-current lease liabilities | 69,122 | 71,765 | ||||||||||||
| Other long-term liabilities | 75,330 | 78,766 | ||||||||||||
| Total equity | 2,514,064 | 2,426,034 | ||||||||||||
| Total liabilities and equity | $ | 3,857,551 | $ | 3,956,796 | ||||||||||
Page 6
LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| Three Months Ended | ||||||||||||||
| (in thousands, except per share data) | March 28, 2026 | March 29, 2025 | ||||||||||||
| Net sales | $ | 656,969 | $ | 554,307 | ||||||||||
| Cost of sales | 402,820 | 347,051 | ||||||||||||
| Gross profit | 254,149 | 207,256 | ||||||||||||
| Selling, general, and administrative expenses | 99,325 | 87,708 | ||||||||||||
| Research and development expenses | 29,737 | 26,048 | ||||||||||||
| Amortization of intangibles | 16,500 | 14,331 | ||||||||||||
| Restructuring, impairment, and other charges | 7,422 | 9,019 | ||||||||||||
| Total operating expenses | 152,984 | 137,106 | ||||||||||||
| Operating income | 101,165 | 70,150 | ||||||||||||
| Interest expense | 6,977 | 8,875 | ||||||||||||
| Foreign exchange (gain) loss | (2,413) | 4,843 | ||||||||||||
| Other income, net | (130) | (3,515) | ||||||||||||
| Income before income taxes | 96,731 | 59,947 | ||||||||||||
| Income taxes | 21,584 | 16,376 | ||||||||||||
| Net income | $ | 75,147 | $ | 43,571 | ||||||||||
| Earnings per share: | ||||||||||||||
| Basic | $ | 3.00 | $ | 1.76 | ||||||||||
| Diluted | $ | 2.96 | $ | 1.75 | ||||||||||
| Weighted-average shares and equivalent shares outstanding: | ||||||||||||||
| Basic | 25,074 | 24,767 | ||||||||||||
| Diluted | 25,420 | 24,963 | ||||||||||||
| Comprehensive income | $ | 55,973 | $ | 81,168 | ||||||||||
Page 7
LITTELFUSE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Three Months Ended | ||||||||||||||
| (in thousands) | March 28, 2026 | March 29, 2025 | ||||||||||||
| OPERATING ACTIVITIES | ||||||||||||||
| Net income | $ | 75,147 | $ | 43,571 | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | 42,614 | 37,658 | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| Trade receivables | (21,783) | (14,745) | ||||||||||||
| Inventories | (6,740) | 8,699 | ||||||||||||
| Accounts payable | 8,567 | (8,772) | ||||||||||||
| Accrued liabilities and income taxes | (19,802) | (8,044) | ||||||||||||
| Prepaid expenses and other assets | 2,255 | 7,391 | ||||||||||||
| Net cash provided by operating activities | 80,258 | 65,758 | ||||||||||||
| INVESTING ACTIVITIES | ||||||||||||||
| Acquisitions of businesses, net of cash acquired | (2,508) | (57,417) | ||||||||||||
| Purchases of property, plant, and equipment | (14,094) | (23,102) | ||||||||||||
| Net proceeds from sale of property, plant and equipment, and other | 31 | 11 | ||||||||||||
| Net cash used in investing activities | (16,571) | (80,508) | ||||||||||||
| FINANCING ACTIVITIES | ||||||||||||||
| Net payments of credit facility | (166,250) | (53,750) | ||||||||||||
| Repurchases of common stock | — | (27,374) | ||||||||||||
| Cash dividends paid | (18,836) | (17,335) | ||||||||||||
| All other cash provided by financing activities | 42,430 | 1,425 | ||||||||||||
| Net cash used in financing activities | (142,656) | (97,034) | ||||||||||||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (2,762) | 5,603 | ||||||||||||
| Decrease in cash, cash equivalents, and restricted cash | (81,731) | (106,181) | ||||||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 565,104 | 726,437 | ||||||||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 483,373 | $ | 620,256 | ||||||||||
Page 8
LITTELFUSE, INC.
NET SALES AND OPERATING INCOME BY SEGMENT
(Unaudited)
| First Quarter | ||||||||||||||||||||
| (in thousands) | 2026 | 2025 | % Growth | |||||||||||||||||
| Net sales | ||||||||||||||||||||
| Electronics | $ | 362,775 | $ | 307,249 | 18.1 | % | ||||||||||||||
| Transportation | 170,381 | 161,862 | 5.3 | % | ||||||||||||||||
| Industrial | 123,813 | 85,196 | 45.3 | % | ||||||||||||||||
| Total net sales | $ | 656,969 | $ | 554,307 | 18.5 | % | ||||||||||||||
| Operating income | ||||||||||||||||||||
| Electronics | $ | 70,279 | $ | 46,766 | 50.3 | % | ||||||||||||||
| Transportation | 24,103 | 18,917 | 27.4 | % | ||||||||||||||||
| Industrial | 20,761 | 13,074 | 58.8 | % | ||||||||||||||||
| Other (a) | (13,978) | (8,607) | N.M. | |||||||||||||||||
| Total operating income | $ | 101,165 | $ | 70,150 | 44.2 | % | ||||||||||||||
| Operating Margin | 15.4 | % | 12.7 | % | ||||||||||||||||
| Interest expense | 6,977 | 8,875 | ||||||||||||||||||
| Foreign exchange (gain) loss | (2,413) | 4,843 | ||||||||||||||||||
| Other income, net | (130) | (3,515) | ||||||||||||||||||
| Income before income taxes | $ | 96,731 | $ | 59,947 | 61.4 | % | ||||||||||||||
(a) "Other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments, and restructuring and impairment charges. See Supplemental Financial Information for details.
N.M. - Not meaningful
| First Quarter | ||||||||||||||||||||
| (in thousands) | 2026 | 2025 | % Growth | |||||||||||||||||
| Operating Margin | ||||||||||||||||||||
| Electronics | 19.4 | % | 15.2 | % | 4.2 | % | ||||||||||||||
| Transportation | 14.1 | % | 11.7 | % | 2.4 | % | ||||||||||||||
| Industrial | 16.8 | % | 15.3 | % | 1.5 | % | ||||||||||||||
Page 9
LITTELFUSE, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(In millions of USD except per share amounts - unaudited)
| Non-GAAP EPS reconciliation | ||||||||||||||
| Q1-26 | Q1-25 | |||||||||||||
| GAAP diluted EPS | $ | 2.96 | $ | 1.75 | ||||||||||
| EPS impact of Non-GAAP adjustments (below) | 0.35 | 0.44 | ||||||||||||
| Adjusted diluted EPS | $ | 3.31 | $ | 2.19 | ||||||||||
| Non-GAAP adjustments - expense / (income) | ||||||||||||||
| Q1-26 | Q1-25 | |||||||||||||
| Acquisition-related and integration costs (a) | $ | 1.2 | $ | 0.1 | ||||||||||
| Purchase accounting inventory adjustments (b) | 5.4 | (0.5) | ||||||||||||
| Restructuring, impairment and other charges (c) | 7.4 | 9.0 | ||||||||||||
| Non-GAAP adjustments to operating income | 14.0 | 8.6 | ||||||||||||
| Other income, net (d) | 2.7 | — | ||||||||||||
| Non-operating foreign exchange (gain) loss | (2.4) | 4.8 | ||||||||||||
| Non-GAAP adjustments to income before income taxes | 14.3 | 13.4 | ||||||||||||
| Income taxes (e) | 5.3 | 2.3 | ||||||||||||
| Non-GAAP adjustments to net income | $ | 9.0 | $ | 11.1 | ||||||||||
| Total EPS impact | $ | 0.35 | $ | 0.44 | ||||||||||
| Adjusted operating margin / Adjusted EBITDA reconciliation | ||||||||||||||
| Q1-26 | Q1-25 | |||||||||||||
| Net income | $ | 75.1 | $ | 43.6 | ||||||||||
| Add: | ||||||||||||||
| Income taxes | 21.6 | 16.4 | ||||||||||||
| Interest expense | 7.0 | 8.9 | ||||||||||||
| Foreign exchange (gain) loss | (2.4) | 4.8 | ||||||||||||
| Other income, net | (0.1) | (3.5) | ||||||||||||
| GAAP operating income | $ | 101.2 | $ | 70.2 | ||||||||||
| Non-GAAP adjustments to operating income | 14.0 | 8.6 | ||||||||||||
| Adjusted operating income | $ | 115.1 | $ | 78.8 | ||||||||||
| Amortization of intangibles | 16.5 | 14.3 | ||||||||||||
| Depreciation expense | 19.0 | 18.4 | ||||||||||||
| Adjusted EBITDA | $ | 150.6 | $ | 111.5 | ||||||||||
| Net sales | $ | 657.0 | $ | 554.3 | ||||||||||
| Net income as a percentage of net sales | 11.4 | % | 7.9 | % | ||||||||||
| Operating margin | 15.4 | % | 12.7 | % | ||||||||||
| Adjusted operating margin | 17.5 | % | 14.2 | % | ||||||||||
| Adjusted EBITDA margin | 22.9 | % | 20.1 | % | ||||||||||
Page 10
| Adjusted EBITDA by Segment | Q1-26 | Q1-25 | ||||||||||||||||||||||||||||||||||||
| Electronics | Transportation | Industrial | Electronics | Transportation | Industrial | |||||||||||||||||||||||||||||||||
| GAAP operating income | $ | 70.3 | $ | 24.1 | $ | 20.8 | $ | 46.8 | $ | 18.9 | $ | 13.1 | ||||||||||||||||||||||||||
| Add: | ||||||||||||||||||||||||||||||||||||||
| Add back amortization | 9.0 | 3.4 | 4.1 | 9.8 | 3.3 | 1.2 | ||||||||||||||||||||||||||||||||
| Add back depreciation | 11.8 | 5.0 | 2.2 | 11.4 | 5.5 | 1.5 | ||||||||||||||||||||||||||||||||
| Adjusted EBITDA | $ | 91.0 | $ | 32.5 | $ | 27.1 | $ | 68.0 | $ | 27.7 | $ | 15.8 | ||||||||||||||||||||||||||
| Adjusted EBITDA Margin | 25.1 | % | 19.1 | % | 21.9 | % | 22.1 | % | 17.1 | % | 18.5 | % | ||||||||||||||||||||||||||
| Net sales reconciliation | Q1-26 vs. Q1-25 | |||||||||||||||||||||||||
| Electronics | Transportation | Industrial | Total | |||||||||||||||||||||||
| Net sales growth | 18 | % | 5 | % | 45 | % | 19 | % | ||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Acquisitions | — | % | — | % | 39 | % | 6 | % | ||||||||||||||||||
| FX impact | 3 | % | 4 | % | 1 | % | 3 | % | ||||||||||||||||||
| Organic net sales growth | 15 | % | 1 | % | 5 | % | 9 | % | ||||||||||||||||||
| Electronics segment net sales reconciliation | Q1-26 vs. Q1-25 | |||||||||||||||||||
| Electronics - Passive Products and Sensors | Electronics - Semiconductor | Total Electronics | ||||||||||||||||||
| Net sales growth | 26 | % | 11 | % | 18 | % | ||||||||||||||
| Less: | ||||||||||||||||||||
| FX impact | 4 | % | 3 | % | 3 | % | ||||||||||||||
| Organic net sales growth | 22 | % | 8 | % | 15 | % | ||||||||||||||
| Transportation segment net sales reconciliation | Q1-26 vs. Q1-25 | |||||||||||||||||||||||||
| Commercial Vehicle Products | Passenger Car Products (1) | Auto Sensor Products (1) | Total Transportation | |||||||||||||||||||||||
| Net sales growth | 1 | % | 10 | % | 1 | % | 5 | % | ||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| FX impact | 2 | % | 4 | % | 8 | % | 4 | % | ||||||||||||||||||
| Organic net sales (decline) growth | (1) | % | 6 | % | (7) | % | 1 | % | ||||||||||||||||||
(1) Passenger vehicle business (PVB) includes passenger car and auto sensor products.
| Income tax reconciliation | ||||||||||||||
| Q1-26 | Q1-25 | |||||||||||||
| Income taxes | $ | 21.6 | $ | 16.4 | ||||||||||
| Effective rate | 22.3 | % | 27.3 | % | ||||||||||
| Non-GAAP adjustments - income taxes | 5.3 | 2.3 | ||||||||||||
| Adjusted income taxes | $ | 26.9 | $ | 18.7 | ||||||||||
| Adjusted effective rate | 24.2 | % | 25.5 | % | ||||||||||
| Free cash flow reconciliation | ||||||||||||||
| Q1-26 | Q1-25 | |||||||||||||
| Net cash provided by operating activities | $ | 80.3 | $ | 65.8 | ||||||||||
| Less: Purchases of property, plant, and equipment | (14.1) | (23.1) | ||||||||||||
| Free cash flow | $ | 66.2 | $ | 42.7 | ||||||||||
Page 11
| Consolidated Total Debt | As of March 28, 2026 | |||||||
| Consolidated total debt | $ | 631.5 | ||||||
| Unamortized debt issuance costs | 3.5 | |||||||
| Finance lease liability | 0.2 | |||||||
| Consolidated funded indebtedness | 635.2 | |||||||
| Cash held in U.S. (up to $400 million) | 67.6 | |||||||
| Net debt | $ | 567.6 | ||||||
| Consolidated EBITDA | Twelve Months Ended March 28, 2026 | |||||||
| Net Loss | $ | (40.3) | ||||||
| Interest expense | 32.4 | |||||||
| Income taxes | 80.5 | |||||||
| Depreciation expense | 75.4 | |||||||
| Amortization expense | 62.0 | |||||||
| Non-cash additions: | ||||||||
| Stock-based compensation expense | 28.1 | |||||||
| Purchase accounting inventory step-up charge | 6.4 | |||||||
| Unrealized loss on investments | 2.1 | |||||||
| Impairment charges | 301.9 | |||||||
| Other | 34.1 | |||||||
| Consolidated EBITDA (1) | $ | 582.6 | ||||||
| Consolidated Net Leverage Ratio (as defined in the Credit Agreement) * | 1.0x | |||||||
* Our Credit Agreement and Private Placement Note with maturities ranging from 2027 to 2031, contain financial ratio covenants providing that if, as of the last day of each fiscal quarter, the Consolidated Net Leverage ratio at such time for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Credit Agreement and Private Placement Senior Notes) is triggered.
The Credit Agreement was amended in Q1 2026 and now allows to add restructuring charges and business optimization expenses in addition to the prior credit agreement.
(1) Represents Consolidated EBITDA as defined in our Credit Agreement and Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.
Note: Total will not always foot due to rounding.
(a) Reflected in selling, general and administrative expenses ("SG&A").
(b) Reflected in cost of sales.
(c) Reflected in restructuring, impairment and other charges.
(d) 2026 included the reversal of an indemnification receivable of $2.7 million related to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026.
(e) Reflected the tax impact associated with the non-GAAP adjustments including $2.7 million of tax benefits due to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026.
###
Q1 2026 Earnings Release May 6, 2026
2Littelfuse, Inc. © 2026 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 herein. Littelfuse strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at investor.littelfuse.com. This website also provides additional information about Littelfuse. “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995. These risks, uncertainties and other factors include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; economic conditions; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; changes in import and export duty and tariff rates; exchange rate fluctuations; commodity price fluctuations; the effect of the Company's accounting policies; labor disputes and shortages; restructuring costs in excess of expectations; pension plan asset returns less than assumed; uncertainties related to political or regulatory changes; integration of acquisitions may not be achieved in a timely manner, or at all; limited realization of the expected benefits from investment and strategic plans; the risk that expected benefits, synergies and growth prospects of the Basler acquisition may not be achieved in a timely manner, or at all; the risk that Basler’s business may not be successfully integrated with Littelfuse business and / or future acquisitions. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This presentation should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 27, 2025. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 27, 2025, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at http://www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information. Non-GAAP Financial Measures. The information included in this presentation includes the non-GAAP financial measures of organic net sales growth, adjusted operating margin, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted effective tax rate, free cash flow conversion, and consolidated net leverage ratio (as defined in the credit agreement). A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the appendix. The company believes that these non-GAAP financial measures provide useful information to investors regarding its operational performance, ability to generate cash and its credit position enhancing an investor’s overall understanding of its core financial performance. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that these non-GAAP financial measures are commonly used by financial analysts and provide useful information to analysts. Management uses these measures when assessing the performance of the business and for business planning purposes. Note that the definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.
3Littelfuse, Inc. © 2026 SAVE THE DATE INVESTOR DAY May 14, 2026 | New York City Littelfuse, Inc. © 2026
4INVESTOR DAY 2026 INVESTOR DAY PREVIEW – MAY 14 AGENDA Moving the World Forward in Transportation & Logistics (T&L) Dave Ruppel | SVP & GM, T&L Market Accelerating Long-Term Growth through Semiconductor Innovation Dr. Karim Hamed | SVP & GM, Semiconductor Products Delivering More Resilient Growth and Scaling Operational Excellence to Drive Strong Shareholder Value Abhi Khandelwal | EVP & CFO Closing Remarks: The Leader in Safe and Efficient Electrical Energy Transfer Greg Henderson | President & CEO Welcome and Opening Remarks David Kelley | VP, Investor Relations Delivering on the Promise and Potential of a New Littelfuse Greg Henderson | President & CEO Building a Brighter Global Future through Energy & Industrial Infrastructure (EII) Peter Kim | SVP & GM, EII Market Strengthening Our Leadership Position in Computing, Communications, and Diversified Industrials (CCDI) Deepak Nayar | SVP & GM, CCDI Market BREAK10:25 AM Q&A SESSION11:30 AM LEADERSHIP LUNCHEON12:00 PM 9:00 AM 10:35 AM
5Littelfuse, Inc. © 2026 STRATEGIC PRIORITIES Enhance our Focus to Capitalize on Future Growth Opportunities Provide More Complete Solutions for a Broader Set of Customers Drive Further Operational Excellence to Amplify Long-Term Performance More structured evaluation of secular growth opportunities Better leverage teams & technology leadership Expand higher voltage & energy density application opportunities More collaborative approach across businesses Further align technology capabilities and sales structure Enhance customer support for next gen product development Better leverage operating practices across businesses Further optimize operating structure for scale Enhance long-term profitability 01 02 03
6Littelfuse, Inc. © 2026 WHY LITTELFUSE WINS Enabling Long-Term Growth Opportunities Core Market Leadership A market leader in enabling safe and efficient electrical energy transfer Global scale and engineering expertise Customer partnerships with leading innovators across broad end market exposures Broad Multi-Technology Product Offering Core circuit protection leadership augmented by high value-add power semiconductor, switching and sensing capabilities Meaningful brand equity across product lines Providing more complete solutions for a broad set of customers Trusted and Essential Expertise Seasoned global teams embedded with our customers Solving increasingly challenging specifications to enable secular growth trends Driving improved power efficiency and safety Partnering with customers to architect next-gen solutions OUR VALUE PROPOSITION
7Littelfuse, Inc. © 2026 Q1 2026 FINANCIAL SUMMARY Revenue and EPS exceeded the high end of our guidance range01 Q1 Adj. EBITDA Margin of 22.9%, +280 bps vs. PY, reflecting volume leverage and operational execution02 Continued strong cash generation with Q1 FCF of $66 million, +55% vs. PY03 We are executing on our strategic priorities with a goal to scale our business for long-term growth and outperformance04
8Littelfuse, Inc. © 2026 Q1 2026 TOTAL COMPANY Revenue +19% reported and +9% organic vs. PY Note +6% from Basler acquisition and +3% from FX Adj. EBITDA Margin of 22.9%, +280 bps vs. PY GAAP diluted EPS of $2.96 Adj. EPS of $3.31, +51% vs. PY Q1 Op cash flow $80m; FCF of $66m, +55% vs. PY FINANCIAL PERFORMANCE GAAP EPS $2.96 $1.75 Adj. EPS $3.31 $2.19 Adj. EBITDA% 22.9% 20.1% $657 $554 Q1-26 Q1-25 Revenue See appendix for GAAP to non-GAAP reconciliation
9Littelfuse, Inc. © 2026 $2.19 $1.16 $(0.04) $3.31 Q1 2025 Volume & Leverage Other Q1 2026 $554 Q1 2025 Organic Growth Basler FX Q1 2026 Q1 2026 SALES & ADJ. EPS BRIDGE (in millions) See appendix for GAAP to non-GAAP reconciliation Yr/Yr Sales Bridge 9% 6% 3% Yr/Yr Adj. EPS Bridge Note Other includes higher stock & variable compensation, lower adj. effective tax rate, higher diluted share count, & impact of other non-operating expenses $657 +38% Yr/Yr* Adj. EBITDA Conversion
10Littelfuse, Inc. © 2026 Q1 2026 ELECTRONICS SEGMENT Revenue +18% reported and +15% organic vs. PY Passive products +22% organic Semiconductors +8% organic +3% from FX Continued strong Passive & Protection Product orders driven by strong data center and diversified industrials demand Q1 Adj. EBITDA margin 25.1%, +300 bps vs PY Passive Products & Protection volume leverage & execution FINANCIAL PERFORMANCE Op Margin 19.4% 15.2% Adj. EBITDA% 25.1% 22.1% $363 $307 Q1-26 Q1-25 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation
11Littelfuse, Inc. © 2026 Q1 2026 TRANSPORTATION SEGMENT Revenue +5% reported and +1% organic vs. PY +4% FX benefit Passenger vehicle +4% organic Content expansion, market share gains & favorable pricing amid lower yr/yr global passenger vehicle production Commercial vehicle -1% organic -1% impact related to the exit of the marine business Q1 Adj. EBITDA margin 19.1%, +200 bps vs PY Operational execution & productivity initiatives FINANCIAL PERFORMANCE Op Margin 14.1% 11.7% Adj. EBITDA% 19.1% 17.1% $170 $162 Q1-26 Q1-25 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation
12Littelfuse, Inc. © 2026 Q1 2026 INDUSTRIAL SEGMENT Revenue +45% reported and +5% organic vs. PY Strong grid & utility infrastructure and data center demand, favorable pricing Continued soft residential HVAC demand Basler acquisition sales outpaced expectations +39% contribution Driven by strong grid & utility and data center infrastructure demand Q1 Adj. EBITDA margin 21.9%, +340 bps vs PY Favorable volume leverage and mix driving margin expansion FINANCIAL PERFORMANCE Op Margin 16.8% 15.3% Adj. EBITDA% 21.9% 18.5% $124 $85 Q1-26 Q1-25 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation
13Littelfuse, Inc. © 2026 Q2 2026 GUIDANCE Entered Q2 with a strong backlog and continued bookings momentum Focused on execution, traction on strategic priorities Q2 sales guidance: $690m - $710m +7% sequential +14% yr/yr; +8% organic +6% yr/yr growth from the Basler acquisition Adj. EPS $3.65 - $3.85 +32% yr/yr at the midpoint Expected adj. effective tax rate of 21% - 22% (in millions) $690 - $710 $657 $613 Q2-26 Guidance Q1-26 Q2-25 Revenue Adj. EPS $3.65 - $3.85 $3.31 $2.85 GAAP EPS $2.96 $2.30 See appendix for GAAP to non-GAAP reconciliation
14Littelfuse, Inc. © 2026 $2.85 $0.89 $0.01 $3.75 Q2 2025 Volume & Leverage Other Q2 2026 $613 $700 Q2 2025 Organic Growth Basler FX Q2 2026 450 500 550 600 650 700 Q2 2026 SALES & ADJ. EPS GUIDANCE BRIDGE Note Q2 2026 represents guidance midpoints (in millions) See appendix for GAAP to non-GAAP reconciliation Yr/Yr Sales Bridge 8% 6% 0% Yr/Yr Adj. EPS Bridge +31% Yr/Yr* Adj. EBITDA Conversion Note Other includes higher stock & variable compensation, lower adjusted effective tax rate, higher share count, & impact of other non-operating expenses
15Littelfuse, Inc. © 2026 FULL YEAR 2026 CONSIDERATIONS / EXPECTATIONS 2025 Pro Forma Littelfuse Revenue by End Market* 2026 Key Market Expectations *Pro forma company estimate includes Littelfuse and full year Basler End Market 2026 Expectation Transportation Content expansion and share gains amid mixed underlying market conditions Data Center & Building Infrastructure Continued strong data center momentum offsetting soft building infrastructure demand Consumer Electronics Expected continued soft market demand Diversified Industrials Continued broad-based demand strength Construction & Industrial Equipment Construction and industrial equipment growth offsetting declining residential HVAC volumes Renewables, Grid & Utility Infrastructure Continued strong renewable and grid & utility infrastructure demand Passenger Vehicle 21% Commercial Vehicle 9% Data Center & Building Infrastructure 19% Renewables, Grid & Utility Infrastructure 7% Diversified Industrials 18% Construction & Industrial Equipment 17% Consumer Electronics 9%
16Littelfuse, Inc. © 2026 APPENDIX
17Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION Note: Total will not always foot due to rounding. (a) Reflected in selling, general and administrative expenses ("SG&A"). (b) Reflected in cost of sales. (c) Reflected in restructuring, impairment and other charges. (d) 2026 included the reversal of an indemnification receivable of $2.7 million related to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026. (e) Reflected the tax impact associated with the non-GAAP adjustments including $2.7 million of tax benefits due to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026. Non-GAAP EPS reconciliation Q1-26 Q1-25 GAAP diluted EPS $ 2.96 $ 1.75 EPS impact of Non-GAAP adjustments (below) 0.35 0.44 Adjusted diluted EPS $ 3.31 $ 2.19 Non-GAAP adjustments - (income) / expense (in millions) Q1-26 Q1-25 Acquisition-related and integration costs (a) $ 1.2 $ 0.1 Purchase accounting inventory adjustments (b) 5.4 (0.5) Restructuring, impairment and other charges (c) 7.4 9.0 Non-GAAP adjustments to operating income 14.0 8.6 Other income, net (d) 2.7 — Non-operating foreign exchange (gain) loss (2.4) 4.8 Non-GAAP adjustments to income before income taxes 14.3 13.4 Income taxes (e) 5.3 2.3 Non-GAAP adjustments to net income $ 9.0 $ 11.1 Total EPS impact $ 0.35 $ 0.44
18Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Adjusted operating margin / Adjusted EBITDA reconciliation (in millions) Q1-26 Q1-25 Net income $ 75.1 $ 43.6 Add: Income taxes 21.6 16.4 Interest expense 7.0 8.9 Foreign exchange (gain) loss (2.4) 4.8 Other income, net (0.1) (3.5) GAAP operating income $ 101.2 $ 70.2 Non-GAAP adjustments to operating income 14.0 8.6 Adjusted operating income $ 115.1 $ 78.8 Amortization of intangibles 16.5 14.3 Depreciation expense 19.0 18.4 Adjusted EBITDA $ 150.6 $ 111.5 Net sales $ 657.0 $ 554.3 Net income as a percentage of net sales 11.4 % 7.9 % Operating margin 15.4 % 12.7 % Adjusted operating margin 17.5 % 14.2 % Adjusted EBITDA margin 22.9 % 20.1 %
19Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Adjusted EBITDA by Segment (in millions) Q1-26 Q1-25 Electronics Transportation Industrial Electronics Transportation Industrial GAAP operating income $ 70.3 $ 24.1 $ 20.8 $ 46.8 $ 18.9 $ 13.1 Add: Add back amortization 9.0 3.4 4.1 9.8 3.3 1.2 Add back depreciation 11.8 5.0 2.2 11.4 5.5 1.5 Adjusted EBITDA $ 91.0 $ 32.5 $ 27.1 $ 68.0 $ 27.7 $ 15.8 Adjusted EBITDA Margin 25.1 % 19.1 % 21.9 % 22.1 % 17.1 % 18.5 % Net sales (in thousands) Q1-26 Q1-25 Electronics Transportation Industrial Electronics Transportation Industrial Electronics – Passive Products and Sensors $ 187,123 $ — $ — $ 148,960 $ — $ — Electronics – Semiconductor 175,652 — — 158,289 — — Commercial Vehicle Products — 78,881 — — 77,769 — Passenger Car Products — 76,240 — — 69,035 — Automotive Sensors — 15,260 — — 15,058 — Industrial Products — — 123,813 — — 85,196 Total $ 362,775 $ 170,381 $ 123,813 $ 307,249 $ 161,862 $ 85,196
20Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D (1) Passenger vehicle business (PVB) includes passenger car and auto sensor products. Net sales reconciliation Q1-26 vs. Q1-25 Electronics Transportation Industrial Total Net sales growth 18 % 5 % 45 % 19 % Less: Acquisitions — % — % 39 % 6 % FX impact 3 % 4 % 1 % 3 % Organic net sales growth 15 % 1 % 5 % 9 % Electronics segment net sales reconciliation Q1-26 vs. Q1-25 Electronics - Passive Products and Sensors Electronics - Semiconductor Total Electronics Net sales growth 26 % 11 % 18 % Less: FX impact 4 % 3 % 3 % Organic net sales growth 22 % 8 % 15 % Transportation segment net sales reconciliation Q1-26 vs. Q1-25 Commercial Vehicle Products Passenger Car Products (1) Auto Sensor Products (1) Total Transportation Net sales growth 1 % 10 % 1 % 5 % Less: FX impact 2 % 4 % 8 % 4 % Organic net sales (decline) growth (1)% 6 % (7)% 1 %
21Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Income tax reconciliation Q1-26 Q1-25 Income taxes $ 21.6 $ 16.4 Effective rate 22.3 % 27.3 % Non-GAAP adjustments - income taxes 5.3 2.3 Adjusted income taxes $ 26.9 $ 18.7 Adjusted effective rate 24.2 % 25.5 % Free cash flow reconciliation Q1-26 Q1-25 Net cash provided by operating activities $ 80.3 $ 65.8 Less: Purchases of property, plant, and equipment (14.1) (23.1) Free cash flow $ 66.2 $ 42.7 Free cash flow conversion Q1-26 Q1-25 Net income $ 75.1 $ 43.6 Free cash flow 66.2 42.7 Free cash flow conversion 88 % 98 %
22Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D * Our Credit Agreement and Private Placement Note with maturities ranging from 2027 to 2031, contain financial ratio covenants providing that if, as of the last day of each fiscal quarter, the Consolidated Net Leverage ratio at such time for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Credit Agreement and Private Placement Senior Notes) is triggered. The Credit Agreement were amended in Q1 2026 and now allow to add restructuring charges and business optimization expenses in addition to the Prior credit agreement. (1) Represents Consolidated EBITDA as defined in our Credit Agreement and Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters. Consolidated Total Debt (in millions) As of March 28, 2026 Consolidated total debt $ 631.5 Unamortized debt issuance costs 3.5 Finance lease liability 0.2 Consolidated funded indebtedness 635.2 Cash held in U.S. (up to $400 million) 67.6 Net debt $ 567.6 Consolidated EBITDA (in millions) Twelve Months Ended March 28, 2026 Net Loss $ (40.3) Interest expense 32.4 Income taxes 80.5 Depreciation expense 75.4 Amortization expense 62.0 Non-cash additions: Stock-based compensation expense 28.1 Purchase accounting inventory step-up charge 6.4 Unrealized loss on investments 2.1 Impairment charges 301.9 Other 34.1 Consolidated EBITDA (1) $ 582.6 Consolidated Net Leverage Ratio (as defined in the Credit Agreement) * 1.0x
23Littelfuse, Inc. © 2026 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D Note: Total will not always foot due to rounding. (a) Reflected in selling, general and administrative expenses ("SG&A"). (b) Reflected in restructuring, impairment and other charges. (c) Reflected the tax impact associated with the non-GAAP adjustments. Non-GAAP EPS reconciliation Q2-25 GAAP diluted EPS $ 2.30 EPS impact of Non-GAAP adjustments (below) 0.50 Adjusted diluted EPS $ 2.85 Non-GAAP adjustments - (income) / expense Q2-25 Acquisition-related and integration costs (a) $ 1.5 Restructuring, impairment and other charges (b) 2.5 Non-GAAP adjustments to operating income 4.0 Non-operating foreign exchange loss 10.4 Non-GAAP adjustments to income before income taxes 14.4 Income taxes (c) 0.8 Non-GAAP adjustments to net income $ 13.6 Total EPS impact $ 0.55
FAQ
How did Littelfuse (LFUS) perform financially in Q1 2026?
Littelfuse reported Q1 2026 net sales of $656.97 million, up 19% year over year. Net income increased to $75.15 million from $43.57 million. GAAP diluted EPS rose to $2.96, while adjusted diluted EPS reached $3.31, reflecting higher volumes and margin expansion.
What were Littelfuse (LFUS) profit margins and EBITDA in Q1 2026?
In Q1 2026, Littelfuse achieved a GAAP operating margin of 15.4%, up from 12.7% a year earlier. Adjusted EBITDA was $150.6 million, giving an adjusted EBITDA margin of 22.9% versus 20.1% in Q1 2025, helped by operating leverage and mix.
How did Littelfuse’s business segments contribute to Q1 2026 growth?
Littelfuse saw electronics segment revenue rise 18% to $362.78 million, transportation grow 5% to $170.38 million, and industrial increase 45% to $123.81 million. Industrial growth included a 39 percentage point contribution from the Basler acquisition plus higher grid and data center demand.
What guidance did Littelfuse (LFUS) provide for Q2 2026?
For Q2 2026, Littelfuse expects net sales between $690 million and $710 million, implying year-over-year growth. Adjusted diluted EPS is projected at $3.65 to $3.85, with an expected adjusted effective tax rate of 21%–22%, based on current market conditions.
How strong was Littelfuse’s cash flow in Q1 2026?
Littelfuse generated Q1 2026 operating cash flow of $80.3 million and free cash flow of $66.2 million, up 55% from $42.7 million in Q1 2025. The company highlighted this cash generation alongside lower capital expenditures versus the prior year period.
What is Littelfuse’s leverage and debt position as of March 28, 2026?
As of March 28, 2026, Littelfuse reported consolidated total debt of $631.5 million and net debt of $567.6 million. Using consolidated EBITDA of $582.6 million for the preceding 12 months, the disclosed consolidated net leverage ratio was 1.0x under its credit agreement.