Littelfuse (LFUS) Q4 2024 earnings summary

Executive summary

• Q4 and full year 2024 results were in line with guidance, reflecting strong operational execution and cash generation amid mixed end-market conditions.

• Design-win momentum and new product innovations continued, with signs of inventory replenishment and stabilization in key regions.

• Leadership transition announced, with Greg Henderson becoming CEO as Dave Heinzmann retires after 40 years.

• Positioned for 2025 growth, leveraging balanced end-market exposure, technology capabilities, and cost actions.

Financial highlights

• Q4 2024 revenue was $530 million, down 1% year-over-year and flat organically; full-year revenue was $2.19 billion, down 7% year-over-year.

• Q4 GAAP diluted loss per share was $1.57, including $93 million in non-cash impairment charges; adjusted diluted EPS was $2.04.

• Full-year GAAP diluted EPS was $4.51; adjusted diluted EPS was $8.48.

• Q4 operating cash flow was $161 million; free cash flow was $135 million. Full-year operating cash flow was $368 million; free cash flow was $292 million, exceeding 100% conversion target.

• Portfolio pruning created a 2% headwind to revenue growth.

Outlook and guidance

• Q1 2025 sales expected between $520–$550 million, with a 2% FX headwind versus prior year; adjusted EPS guidance $1.70–$1.90, with a 26% tax rate.

• Full year 2025 guidance includes solid earnings expansion, margin expansion, 2% sales growth from Elmos acquisition, and ongoing cost scaling actions.

• FX and commodities expected to be a 1% headwind to sales and a $0.22 benefit to EPS.

• Capital expenditures for 2025 estimated at $90–$95 million.

• Dividend of $0.70 per share payable March 6, 2025.