$LFUS

LITTELFUSE INC /DE

CIK:0000889331|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 738,781	$ 613,413	$ 1,395,750	$ 1,167,720
Cost of sales	432,717	381,359	835,537	728,410
Gross profit	306,064	232,054	560,213	439,310
Selling, general, and administrative expenses	120,578	95,517	219,903	183,225
Research and development expenses	31,037	26,401	60,774	52,449
Amortization of intangibles	14,704	14,852	31,204	29,183
Restructuring, impairment, and other charges	20,021	2,506	27,443	11,525
Total operating expenses	186,340	139,276	339,324	276,382
Operating income	119,724	92,778	220,889	162,928
Interest expense	5,739	8,568	12,716	17,443
Foreign exchange (gain) loss	(160)	10,448	(2,573)	15,291
Other income, net	(2,919)	(4,452)	(3,049)	(7,967)
Income before income taxes	117,064	78,214	213,795	138,161
Income taxes	27,659	20,872	49,243	37,248
Net income	$ 89,405	$ 57,342	$ 164,552	$ 100,913
Earnings per share:
Basic (in dollars per share)	$ 3.53	$ 2.32	$ 6.53	$ 4.08
Diluted (in dollars per share)	$ 3.49	$ 2.30	$ 6.44	$ 4.05
Weighted-average shares and equivalent shares outstanding:
Basic (in shares)	25,305	24,755	25,190	24,760
Diluted (in shares)	25,620	24,905	25,534	24,938

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
OPERATING ACTIVITIES
Net income	$ 164,552	$ 100,913
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	38,819	37,805
Amortization of intangibles	31,204	29,183
Deferred revenue	(4,308)	2,844
Impairment charges	13,146	136
Stock-based compensation	14,953	13,447
Loss on investments and other assets	116	2,027
Deferred income taxes	10,026	(807)
Other	1,797	2,123
Changes in operating assets and liabilities:
Trade receivables	(65,720)	(52,635)
Inventories	(21,254)	23,316
Accounts payable	39,159	(7,001)
Accrued liabilities and income taxes	2,147	(14,425)
Prepaid expenses and other assets	1,837	11,299
Net cash provided by operating activities	226,474	148,225
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	(2,818)	(57,417)
Purchases of property, plant, and equipment	(33,021)	(32,999)
Net proceeds from sale of property, plant and equipment, and other	9,115	712
Net cash used in investing activities	(26,724)	(89,704)
FINANCING ACTIVITIES
Payments of senior notes payable	0	(50,000)
Repayments of other debts	(1,225)	(1,365)
Payments of term loan	(66,250)	(7,500)
Payments of revolving credit facility	(100,000)	0
Net proceeds related to stock-based award activities	75,573	552
Repurchases of common stock, with excise tax	0	(27,553)
Debt issuance costs	(2,169)	0
Cash dividends paid	(37,872)	(34,677)
Net cash used in financing activities	(131,943)	(120,543)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(3,035)	22,468
Increase (decrease) in cash, cash equivalents, and restricted cash	64,772	(39,554)
Cash, cash equivalents, and restricted cash at beginning of period	565,104	726,437
Cash, cash equivalents, and restricted cash at end of period	629,876	686,883
Reconciliation of cash and cash equivalents:
Cash and cash equivalents	628,224	685,184
Restricted cash included in other long-term assets	1,652	1,699
Cash paid during the period for interest	13,091	17,834
Capital expenditures, not yet paid	$ 7,732	$ 5,514

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2026	Dec. 27, 2025
Current assets:
Cash and cash equivalents (Note 1)	$ 628,224	$ 563,391
Short-term investments	367	287
Trade receivables, less allowances of $86,865 and $77,073 at June 27, 2026 and December 27, 2025, respectively	423,590	363,215
Inventories (Note 3)	433,755	416,472
Prepaid income taxes and income taxes receivable	4,044	6,137
Prepaid expenses and other current assets	93,629	85,832
Total current assets	1,583,609	1,435,334
Net property, plant, and equipment (Note 4)	513,160	540,640
Intangible assets, net of amortization (Note 5)	553,511	594,907
Goodwill (Note 5)	1,203,861	1,211,411
Investments	11,923	20,010
Deferred income taxes	4,977	5,255
Right of use lease assets	81,729	86,263
Other long-term assets	59,709	62,976
Total assets	4,012,479	3,956,796
Current liabilities:
Accounts payable	248,972	211,079
Accrued liabilities (Note 6)	191,873	199,271
Accrued income taxes	32,667	26,186
Current portion of long-term debt (Note 8)	100,000	96,233
Total current liabilities	573,512	532,769
Long-term debt, less current portion (Note 8)	529,660	706,394
Deferred income taxes	110,081	102,335
Accrued post-retirement benefits	40,062	38,733
Non-current lease liabilities	68,146	71,765
Other long-term liabilities	72,658	78,766
Total liabilities	1,394,119	1,530,762
Commitments and contingencies (Note 15)
Shareholders’ equity:
Common stock, par value $0.01 per share: 34,000,000 shares authorized; shares issued, June 27, 2026–27,511,066; December 27, 2025–27,014,490	268	264
Additional paid-in capital	1,199,321	1,098,150
Treasury stock, at cost: 2,114,499 and 2,088,409 shares, respectively	(349,345)	(338,696)
Accumulated other comprehensive loss	(30,263)	(5,383)
Retained earnings	1,798,379	1,671,699
Total equity	2,618,360	2,426,034
Total liabilities and equity	$ 4,012,479	$ 3,956,796