Littelfuse Q3 sales rise 23% on electronics segment strength
LFUS•Littelfuse reported Q3 net sales of $766.73 million, up 23% year over year but below the $792.49 million consensus estimate. Adjusted diluted EPS rose 96% to a record high, and the company forecast Q4 sales of $750 million to $770 million.
1. Quarterly results
Littelfuse said Q3 net sales rose 23% year over year to $766.73 million, missing the $792.49 million analyst consensus. Adjusted diluted EPS rose 96% year over year to a record high. Organic sales increased 27% in electronics; industrial sales rose 65%, including 27% organic growth and a 38% contribution from the Basler Electric acquisition. Transportation growth was supported by a 20% rise in commercial vehicle sales, offsetting lower passenger vehicle sales.
2. Fourth-quarter outlook
Littelfuse expects Q4 net sales of $750 million to $770 million and adjusted diluted EPS of $5.05 to $5.25. It anticipates an adjusted effective tax rate of about 24% and announced a quarterly dividend of $0.80 per share.
