Littelfuse Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Littelfuse Inc. filed its quarterly report (10-Q) for the period ending March 30, 2024.</b>

AI Summary

LITTELFUSE INC /DE (LFUS) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Littelfuse Inc. filed a 10-Q report for the period ending March 30, 2024. The company's fiscal year ends on December 28. The filing is from May 1, 2024. The company is incorporated in Delaware. The SIC code for Littelfuse Inc. is 3613 (Switchgear & Switchboard Apparatus).

Why It Matters

For investors and stakeholders tracking LITTELFUSE INC /DE, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Littelfuse Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — LITTELFUSE INC /DE shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 20240330 — Period of Report (Quarterly filing date)
• 20240501 — Filed as of Date (Date of filing)
• 3613 — SIC Code (Industry classification)
• DE — State of Incorporation (Legal domicile)

Key Players & Entities

• LITTELFUSE INC /DE (company) — Filer name
• 0000889331-24-000129 (other) — Accession Number
• 20240330 (date) — Period of Report
• 20240501 (date) — Filed as of Date
• 0000889331 (company) — Central Index Key
• 3613 (other) — Standard Industrial Classification
• DE (other) — State of Incorporation
• 8755 WEST HIGGINS ROAD (address) — Business Address Street 1

FAQ

Industry Context

Littelfuse Inc. operates in the Switchgear & Switchboard Apparatus industry, providing circuit protection, power control, and sensing solutions.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including quarterly reporting requirements under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review management's discussion and analysis for insights into business performance and outlook.
3. Check for any new risk factors or significant changes from previous filings.

Key Dates

• 2024-03-30: Quarter End Date — End of the reporting period for the 10-Q
• 2024-05-01: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, reporting on the quarter ending March 30, 2024.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value LFUS NASDAQ Global Select Mar

Filing Documents

• lfus-20240330.htm (10-Q) — 1339KB
• ex311q12024.htm (EX-31.1) — 11KB
• ex312q12024.htm (EX-31.2) — 11KB
• ex321q12024.htm (EX-32.1) — 7KB
• 0000889331-24-000129.txt (&nbsp;) — 8407KB
• lfus-20240330.xsd (EX-101.SCH) — 50KB
• lfus-20240330_cal.xml (EX-101.CAL) — 92KB
• lfus-20240330_def.xml (EX-101.DEF) — 250KB
• lfus-20240330_lab.xml (EX-101.LAB) — 652KB
• lfus-20240330_pre.xml (EX-101.PRE) — 483KB
• lfus-20240330_htm.xml (XML) — 1437KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of March 30, 2024 (unaudited) and December 30, 2023 3 Condensed Consolidated Statements of Net Income for the three months ended March 30, 2024 (unaudited) and April 01, 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 30, 2024 (unaudited) and April 01, 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months ended March 30, 2024 (unaudited) and April 01, 2023 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 30, 2024 (unaudited) and April 01, 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 35 PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 37

Signatures

Signatures 38 2 Table of Contents

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS LITTELFUSE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) March 30, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents (Note 1) $ 562,153 $ 555,513 Short-term investments 231 235 Trade receivables, less allowanc es o f $ 76,496 and $ 84,696 at March 30, 2024 and December 30, 2023, respectively 295,876 287,018 Inventories (Note 3) 456,135 474,607 Prepaid income taxes and income taxes receivable 8,574 8,701 Prepaid expenses and other current assets 121,142 82,526 Total current assets 1,444,111 1,408,600 Net property, plant, and equipment (Note 4) 479,435 493,153 Intangible assets, net of amortization (Note 5) 584,631 606,136 Goodwill (Note 5) 1,294,737 1,309,998 Investments 24,204 24,821 Deferred income taxes 10,798 10,486 Right of use lease assets 63,718 62,370 Other long-term assets 41,827 79,711 Total assets $ 3,943,461 $ 3,995,275 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 172,809 $ 173,535 Accrued liabilities (Note 6) 124,288 149,214 Accrued income taxes 42,051 38,725 Current portion of long-term debt (Note 8) 65,824 14,020 Total current liabilities 404,972 375,494 Long-term debt, less current portion (Note 8) 800,849 857,915 Deferred income taxes 100,755 110,820 Accrued post-retirement benefits 34,049 34,422 Non-current lease liabilities 50,791 49,472 Other long-term liabilities 80,752 86,671 Total liabilities $ 1,472,168 $ 1,514,794 Commitments and contingencies (Note 15) Shareholders' equity: Common stock, par value $ 0.01 per share: 34,000,000 shares authorized; shares issued, March 30, 2024– 26,634,597 ; December 30, 2023– 26,624,071 262 262 Additional paid-in capital 1,017,311 1,012,325 Treasury stock, at cost: 1,781,633 and 1,711,290 shares, respectively ( 275,398 ) ( 259,263 ) Accumulated other comprehensive loss ( 86,108 ) ( 55,817 ) Retained earnings 1,814,916 1,782,662 Littelfuse, Inc. shareholders' equity 2,470

View Full Filing

View this 10-Q filing on SEC EDGAR