Littelfuse Inc. (LFUS) reports earnings

The report was filed on March 13, 2025

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Littelfuse Inc. (LFUS-17.05%) has submitted its 10-K filing for the fiscal year ended December 28, 2024.

The filing reports net sales of $2,190.8 million, a decrease of 7.3% from the previous year, primarily due to lower volume in the Electronics segment.

Operating income was $158.8 million, down 56.0% from the previous year, impacted by lower sales and $92.6 million of non-cash impairment charges.

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Net income for the year was $100.2 million, or $4.00 per diluted share, compared to $259.5 million, or $10.34 per diluted share, in the previous year.

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The company recorded a goodwill impairment charge of $36.1 million in the Industrial controls and sensors reporting unit and $8.6 million in the Automotive sensors reporting unit.

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Cash and cash equivalents increased to $724.9 million, with net cash provided by operating activities totaling $367.6 million, a decrease from $457.4 million in the previous year.

Littelfuse completed the acquisition of a 200mm wafer fab in Dortmund, Germany, from Elmos Semiconductor SE, with a total purchase price of approximately 94 million Euro.

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The company reported a decrease in net sales across all geographic regions, with the largest decline in Europe, which saw a 17.2% decrease.

Littelfuse's board authorized a new three-year share repurchase program of up to $300 million, replacing the expired 2021 program.

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The company identified material weaknesses in its internal control over financial reporting related to inventory cycle counts and skilled personnel at certain non-U.S. manufacturing locations.

Littelfuse's effective tax rate increased to 34.0%, driven by the impact of goodwill impairments and non-U.S. losses with no related tax benefit.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Littelfuse Inc. annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.