Third-quarter outlook
- Littelfuse expects Q3 net sales in the range of $780-$800 mln
- Company sees Q3 adjusted diluted EPS between $4.85 and $5.05
- Littelfuse says Q3 revenue growth supported by record bookings and Basler acquisition
Result drivers by segment
- Electronics segment growth - Electronics segment sales rose 21%, driven by higher demand for passive products and semiconductors
- Industrial segment expansion - Industrial segment sales rose 52%, with organic growth from data center, HVAC, automation and construction demand, and a 36% contribution from the Basler acquisition
- Transportation segment mixed performance - Transportation segment sales grew 2% as commercial vehicle demand offset lower passenger vehicle sales
Analyst coverage and valuation
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
- Wall Street's median 12-month price target for Littelfuse Inc is $510.00, about 30.1% above its July 28 closing price of $392.05
- The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 25 three months ago
Quarterly results beat expectations
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