Littelfuse Inc (NAS:LFUS)
$ 244.47 -2.07 (-0.84%) Market Cap: 6.06 Bil Enterprise Value: 6.47 Bil PE Ratio: 31.50 PB Ratio: 2.46 GF Score: 98/100
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Q2 2024 Littelfuse Inc Earnings Call Transcript

Jul 31, 2024 / 02:00PM GMT
Release Date Price: $267.11 (+3.30%)

Key Points

Positve
  • Littelfuse Inc (LFUS) exceeded the high end of both sales and earnings guidance ranges for Q2 2024.
  • The company delivered strong free cash flow, demonstrating the effectiveness of its operating model.
  • Littelfuse Inc (LFUS) has a solid balance sheet and significant financial capacity, positioning it well for long-term growth.
  • The company secured numerous design wins across various sectors, including data centers, medical applications, and transportation.
  • Littelfuse Inc (LFUS) continues to prioritize sustainability, integrating it into daily operations and long-term growth strategies.
Negative
  • The passive electronics channel destocking that negatively impacted 2023 and the first half of 2024 is still causing cautious order patterns from customers.
  • Industrial OEM destocking had a pronounced impact on power semiconductor exposure, with continued soft industrial demand expected through the second half of the year.
  • The electronics market remained soft in Q2 2024, with consumer product appliances and building technologies demand particularly weak.
  • Commercial vehicle market conditions are soft, driven by agricultural and construction exposures, with continued weakness expected in Europe and China.
  • Commodity inflation, particularly in copper and silver, had an 80 basis point unfavorable impact on margins.
Editor

Please stand by for streaming text.

Operator

Good day, everyone, and welcome to the Littelfuse Second Quarter 2024 earnings conference call. Today's call is being recorded. And at this time, I would like to turn the call over to the Head of Investor Relations, David Kelly. Please proceed.

David Lee Kelley
Littelfuse Inc - Head of IR

Good morning, and welcome to the Littelfuse Second Quarter 2024 earnings conference call. With me today are Dave Hansen, President and CEO, and Meenal Cessna, Executive Vice President and CFO. Yesterday, we reported results for our second quarter and a copy of our earnings release and slide presentation is available in the Investor Relations section of our website. A webcast of today's conference call will also be available on our website.

Please advance to slide 2 for our disclaimers. Our discussions today will include forward-looking statements. Be forward looking statements may involve significant risks and uncertainties. Please review yesterday's press release and our Form 10-K and 10

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