Littelfuse Reports Third Quarter Results for 2025

Third Quarter 2025 Highlights:

(Year-over-year comparisons unless otherwise noted)

• Net sales of $625 million, +10%; organic growth contributed +6.5%
• GAAP diluted earnings per share of $2.77, +19%
• Adjusted diluted earnings per share of $2.95, +9%
• GAAP Operating margin of 15.6%, +10 bps; Adjusted EBITDA margin of 21.5%, (-20 bps)
• YTD Cash flow from operations of $295 million and free cash flow of $246 million; YTD cash conversion of 145%

Littelfuse, Inc. (NASDAQ:LFUS), a leader in developing smart solutions that enable safe and efficient electrical energy transfer, today reported financial results for the third quarter ended September 27, 2025:

"We are pleased with our third quarter performance as we delivered strong revenue growth versus the prior year while our adjusted diluted earnings exceeded the high end of our guidance range reflecting solid execution amid mixed end market conditions," said Greg Henderson, Littelfuse President and Chief Executive Officer. "Across our segments, we are leveraging our leadership position in safe and efficient electrical energy transfer to accelerate our growth opportunities."

Acquisition of Basler Electric

"We are also excited to announce the upcoming acquisition of Basler Electric, as disclosed yesterday, a leader in electrical control and protection solutions for industrial markets. Basler will expand our high growth market opportunities, enhance our high power technology capabilities, and broaden our industrial customer exposure. We look forward to welcoming the Basler team to Littelfuse and to leveraging our complementary technologies, engineering capabilities and manufacturing footprint to drive long-term growth, profitability enhancements, and shareholder value."

Fourth Quarter of 2025*

Looking ahead to the fourth quarter, we expect +10% revenue growth versus the prior year given our strong backlog and customer positioning. Although we expect typical fourth quarter seasonality and see continued mixed end market conditions, we remain focused on driving innovations with our customers while delivering operational enhancements. We will continue to execute on our strategic priorities as we aim to scale our company, with the goal of delivering long-term best-in-class performance and shareholder returns.

Based on current market conditions, for the fourth quarter the company expects,

• Net sales in the range of $570 - $590 million, adjusted diluted EPS in the range of $2.40 – $2.60 and an adjusted effective tax rate of 22%

*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.

Third Quarter 2025 Segment Performance Highlights

Electronics Segment

• Net sales for the third quarter 2025 increased +18%. Organic sales increased +12% driven by improved passive products (+19% organic) demand from OEM customers and distributors. Semiconductor product (+5% organic) sales also contributed to growth driven by improved protection semiconductor demand in-part offset by lower power semiconductor volumes. The Dortmund Fab acquisition also contributed +4% to growth.
• Adjusted EBITDA margin for the third quarter 2025 increased to 24.0% (+140 bps) primarily due to strong passive products and protection volume leverage, which more than offset continued soft power semiconductor volumes and higher stock and variable compensation.

Transportation Segment

• Net sales for the third quarter 2025 were flat as favorable FX impact of +2% was offset by lower organic sales. Organic sales decreased -2% driven by lower commercial vehicle sales (-3% organic), reflecting softer on-highway, off-road and agriculture end market demand. Passenger car organic sales were flat reflecting stable passenger car product demand offset by sensor declines.
• Adjusted EBITDA margin for the third quarter 2025 decreased to 16.8% (-220 bps) driven by lower volume, the impact of higher stock and variable compensation, and unfavorable tariff timing.

Industrial Segment

• Net sales for the third quarter 2025 increased +4%. Organic sales increased +4% driven by improved energy storage, renewables and data center demand in-part offset by lower HVAC and continued soft construction demand.
• Adjusted EBITDA margin for the third quarter 2025 decreased to 20.7% (-310 bps) driven by unfavorable mix and higher stock and variable compensation.

Dividend

• The company will pay a cash dividend on its common stock of $0.75 per share on December 4, 2025, to shareholders of record as of November 20, 2025.

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, October 29, 2025, 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 16,000 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.

"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; 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 28, 2024.

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 28, 2024, 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.

Non-GAAP Financial Measures

The information included in this press release and other materials filed with the SEC may include the 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 our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our 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 our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

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David Kelley

224-727-2535

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