Littelfuse Inc. Files Q3 2024 10-Q Report

TL;DR

LFUS Q3 24 10-Q filed. Check financials.

AI Summary

Littelfuse Inc. reported its third-quarter results for the period ending September 28, 2024. The company's fiscal year ends on December 28. Key financial data and reporting dates are detailed in this 10-Q filing, which was submitted on October 30, 2024.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Littelfuse Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 20240928 — Reporting Period End Date (The end date for the reported financial quarter.)
• 20241030 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1228 — Fiscal Year End (Indicates the end of Littelfuse's fiscal year.)

Key Players & Entities

• LITTELFUSE INC /DE (company) — Filer
• 0000889331-24-000191 (filing_id) — Accession Number
• 20240928 (date) — Conformed Period of Report
• 20241030 (date) — Filed as of Date
• 8755 WEST HIGGINS ROAD (address) — Business Address
• CHICAGO (city) — Business Address City
• IL (state) — Business Address State
• 60631 (zip_code) — Business Address Zip
• 773-628-1000 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• lfus-20240928.htm (10-Q) — 1797KB
• ex311q32024.htm (EX-31.1) — 11KB
• ex312q32024.htm (EX-31.2) — 11KB
• ex321q32024.htm (EX-32.1) — 7KB
• 0000889331-24-000191.txt ( ) — 9807KB
• lfus-20240928.xsd (EX-101.SCH) — 52KB
• lfus-20240928_cal.xml (EX-101.CAL) — 92KB
• lfus-20240928_def.xml (EX-101.DEF) — 262KB
• lfus-20240928_lab.xml (EX-101.LAB) — 670KB
• lfus-20240928_pre.xml (EX-101.PRE) — 496KB
• lfus-20240928_htm.xml (XML) — 1889KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of September 28, 2024 (unaudited) and December 30, 2023 3 Condensed Consolidated Statements of Net Income for the three and nine months ended September 28, 2024 (unaudited) and September 30, 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 28, 2024 (unaudited) and September 30, 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 28, 2024 (unaudited) and September 30, 2023 (unaudited) 6 Condensed Consolidated Statements of Stockholders' Equity for the nine months ended September 28, 2024 (unaudited) and September 30, 2023 (unaudited) 7 Notes to Condensed Consolidated Financial Statements (unaudited) 9

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 31

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 42 PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 42

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 43

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

Signatures

Signatures 45 2 Table of Contents

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS LITTELFUSE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share data) September 28, 2024 December 30, 2023 ASSETS Current assets: Cash and cash equivalents (Note 1) $ 629,670 $ 555,513 Short-term investments 1,011 235 Trade receivables, less allowances of $ 76,151 and $ 84,696 at September 28, 2024 and December 30, 2023, respectively 338,758 287,018 Inventories (Note 3) 453,781 474,607 Prepaid income taxes and income taxes receivable 6,793 8,701 Prepaid expenses and other current assets 132,510 82,526 Total current assets 1,562,523 1,408,600 Net property, plant, and equipment (Note 4) 481,592 493,153 Intangible assets, net of amortization (Note 5) 560,994 606,136 Goodwill (Note 5) 1,317,748 1,309,998 Investments 26,607 24,821 Deferred income taxes 11,955 10,486 Right of use lease assets 60,277 62,370 Other long-term assets 40,548 79,711 Total assets $ 4,062,244 $ 3,995,275 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 179,486 $ 173,535 Accrued liabilities (Note 6) 152,772 149,214 Accrued income taxes 39,809 38,725 Current portion of long-term debt (Note 8) 67,799 14,020 Total current liabilities 439,866 375,494 Long-term debt, less current portion (Note 8) 799,949 857,915 Deferred income taxes 95,554 110,820 Accrued post-retirement benefits 31,373 34,422 Non-current lease liabilities 52,074 49,472 Other long-term liabilities 70,328 86,671 Total liabilities $ 1,489,144 $ 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, September 28, 2024– 26,749,671 ; December 30, 2023– 26,624,071 262 262 Additional paid-in capital 1,043,736 1,012,325 Treasury stock, at cost: 1,936,668 and 1,711,290 shares, respectively ( 305,259 ) ( 259,263 ) Accumulated other comprehensive loss ( 50,782 ) ( 55,817 ) Retained earnings 1,884,823 1,782,662

View Full Filing

View this 10-Q filing on SEC EDGAR