Overview
Littelfuse Q3 net sales rise 10% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beats analyst estimates, reflecting strong execution
Company announces acquisition of Basler Electric to expand market opportunities
Outlook
Company expects fourth-quarter net sales between $570 mln and $590 mln
Littelfuse forecasts fourth-quarter adjusted EPS between $2.40 and $2.60
Company anticipates 10% revenue growth in Q4 driven by strong backlog
Result Drivers
ELECTRONICS GROWTH - Electronics segment sales rose 18% due to strong demand for passive products and semiconductors
TRANSPORTATION CHALLENGES - Transportation segment sales were flat, with a 2% decline in organic sales due to lower commercial vehicle demand
INDUSTRIAL DEMAND - Industrial segment sales increased 4%, driven by energy storage and renewables demand
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$624.64 mln
$622.92 mln (4 Analysts)
Q3 Adjusted EPS
Beat
$2.95
$2.79 (4 Analysts)
Q3 EPS
$2.77
Q3 Net Income
$69.52 mln
Q3 Gross Profit
$240.98 mln
Q3 Operating Income
$97.41 mln
Q3 Pretax Profit
$94.71 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Littelfuse Inc is $303.06, about 13.4% above its October 28 closing price of $262.53
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 22 three months ago
Press Release: ID:nBw5QjMlHa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)