lfus-20220802

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


WASHINGTON, D.C. 20579

FORM 8-K


CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: August 2, 2022

(Date of earliest event reported)

LITTELFUSE, INC.

(Exact name of registrant as specified in its charter)


Delaware	0-20388	36-3795742
(State of other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

8755 W. Higgins Road, Suite 500, Chicago, IL 60631

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (773) 628-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of exchange on which registered

Common Stock, par value $0.01 per share

LFUS

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02			Results of Operations and Financial Condition

The information contained within Item 2.02 of this Form 8-K and the Exhibits attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On August 2, 2022, Littelfuse, Inc. (the “Company”) issued a press release announcing the results of its operations for the quarter ended July 2, 2022. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and incorporated by reference to this Item 2.02 as if fully set forth herein. A copy of the press release will also be available on the Company’s website.


Item 7.01			Regulation FD Disclosure

To supplement the information in the attached press release, the Company has also prepared a presentation, which will be available on the Company’s website at https://investor.littelfuse.com/events-and-presentations and is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in the press release and investor presentation attached to this Form 8-K includes forward-looking statements that are intended to be covered by the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to comments with respect to the objectives and strategies, financial condition, results of operations and business of the Company. These forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not be achieved. The Company cautions you not to place undue reliance on these forward-looking statements as a number of important factors could cause actual future results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements.

A copy of the press release is also posted on the Company's website.


Item 9.01			Financial Statements and Exhibits.


(d)			Exhibits
			The following exhibit is furnished with this Form 8-K:
			99.1 Press Release, dated August 2, 2022
			99.2 Littelfuse Presentation dated August 2, 2022

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


			Littelfuse, Inc.


Date: August 2, 2022			By: /s/ Meenal A. Sethna
			Meenal A. Sethna Executive Vice President and Chief Financial Officer

Exhibit 99.1



NEWS RELEASE			Littelfuse Inc. 8755 West Higgins Road, Suite 500 Chicago, Illinois 60631 p: (773) 628-1000 f: (773) 628-0802 www.littelfuse.com

LITTELFUSE REPORTS SECOND QUARTER RESULTS FOR 2022

Global business execution delivers strong financial performance

CHICAGO, August 2, 2022 - Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the second quarter ended July 2, 2022:

•Net sales of $618.4 million were up 18% versus the prior year period, and up 10% organically

•GAAP diluted EPS was $3.48; adjusted diluted EPS was $4.26, up 25% versus the prior year period

•Cash flow from operations was $113.6 million and free cash flow was $87.2 million

•On July 19, the company completed its acquisition of C&K Switches

•The company’s Board of Directors approved a 13% increase in the quarterly cash dividend from $0.53 to

$0.60; this equates to an annualized dividend of $2.40 per share

“We delivered very strong second quarter results above our expectations while continuing to advance our strategic initiatives,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Our record performance to date in 2022 is a testament to our global teams’ execution across the breadth of our end markets. I am also excited to welcome C&K to our organization which significantly expands our ability to serve customers with market leading technologies, capabilities and talent. Looking ahead, we remain focused on effectively managing our business through market volatility while securing growth opportunities driven by sustainability, connectivity, and safety, which will deliver long-term value to our stakeholders.”

Third Quarter of 2022*

Based on current market conditions, for the third quarter the company expects,

•Net sales in the range of $630 to $644 million; adjusted diluted EPS in the range of $3.71 to $3.87

*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

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Dividend

•The company will pay a cash dividend on its common stock of $0.60 per share on September 8, 2022, to

shareholders of record as of August 25, 2022

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, August 3, 2022, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company’s website at Littelfuse.com.

About Littelfuse

Littelfuse (NASDAQ: LFUS) is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with approximately 17,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at Littelfuse.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.’s (“Littelfuse” or the “Company”) current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse's accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended January 1, 2022.

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Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended January 1, 2022, its Quarterly Report on Form 10-Q for the quarter ended April 2, 2022, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

Non-GAAP Financial Measures

The information included in this press release includes the non-GAAP financial measures of organic net sales growth (decline), adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, net debt, consolidated EBITDA, and consolidated net leverage ratio (as defined in the credit agreement). Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules.

The company believes that organic net sales growth (decline), adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor’s overall understanding of our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that net debt, consolidated EBITDA, and consolidated net leverage ratio are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

CONTACT: Trisha Tuntland

Head of Investor Relations

(773) 628-2163

LFUS-F

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS


	(Unaudited)
(in thousands)	July 2, 2022		January 1, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	809,122	$	478,473
Short-term investments	20		28
Trade receivables, less allowances of $68,933 and $59,232 at July 2, 2022 and January 1, 2022, respectively	343,321		275,192
Inventories	496,207		445,671
Prepaid income taxes and income taxes receivable	4,861		2,035
Prepaid expenses and other current assets	65,294		68,812
Total current assets	1,718,825		1,270,211






Net property, plant, and equipment	435,683		437,889
Intangible assets, net of amortization	374,593		407,126
Goodwill	914,358		929,790
Investments	25,626		39,211
Deferred income taxes	12,476		13,127
Right of use lease assets, net	39,724		29,616
Other long-term assets	23,184		24,734
Total assets	$	3,544,469	$	3,151,704
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	219,764	$	222,039



Accrued liabilities	137,377		159,689
Accrued income taxes	34,128		27,905
Current portion of long-term debt	7,500		25,000
Total current liabilities	398,769		434,633
Long-term debt, less current portion	884,569		611,897
Deferred income taxes	74,286		81,289
Accrued post-retirement benefits	35,090		37,037
Non-current operating lease liabilities	32,334		22,305
Other long-term liabilities	67,478		71,023








Total equity	2,051,943		1,893,520
Total liabilities and equity	$	3,544,469	$	3,151,704

Page 5

LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)


	Three Months Ended				Six Months Ended
(in thousands, except per share data)	July 2, 2022		June 26, 2021		July 2, 2022		June 26, 2021
Net sales	$	618,436	$	523,488	$	1,241,766	$	987,282
Cost of sales	355,465		326,092		720,199		629,420
Gross profit	262,971		197,396		521,567		357,862

Selling, general, and administrative expenses	93,093		73,315		168,601		131,603

Research and development expenses	23,488		16,394		43,044		31,133
Amortization of intangibles	11,592		10,641		24,316		21,162
Restructuring, impairment, and other charges	634		789		852		1,226
Total operating expenses	128,807		101,139		236,813		185,124
Operating income	134,164		96,257		284,754		172,738

Interest expense	4,368		4,626		8,670		9,299
Foreign exchange loss (gain)	14,124		(1,676)		21,860		5,161
Other expense (income), net	6,060		(1,890)		10,487		(9,627)
Income before income taxes	109,612		95,197		243,737		167,905
Income taxes	22,596		13,102		39,203		28,097
Net income	$	87,016	$	82,095	$	204,534	$	139,808

Earnings per share:
Basic	$	3.52	$	3.34	$	8.28	$	5.69
Diluted	$	3.48	$	3.30	$	8.19	$	5.62

Weighted-average shares and equivalent shares outstanding:
Basic	24,734		24,592		24,712		24,562
Diluted	24,985		24,900		24,986		24,894

Comprehensive income	$	55,667	$	87,549	$	170,982	$	140,391

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	Six Months Ended
(in thousands)	July 2, 2022		June 26, 2021
OPERATING ACTIVITIES
Net income	$	204,534	$	139,808
Adjustments to reconcile net income to net cash provided by operating activities:	114,659		63,947











Changes in operating assets and liabilities:
Trade receivables	(76,807)		(69,881)
Inventories	(70,285)		(38,205)
Accounts payable	9,153		38,955



Accrued liabilities and income taxes	(23,107)		4,488
Prepaid expenses and other assets	7,175		(12,766)
Net cash provided by operating activities	165,322		126,346

INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	(9,758)		(109,852)


Purchases of property, plant, and equipment	(56,151)		(32,657)
Net proceeds from sale of property, plant and equipment, and other	542		2,569
Net cash used in investing activities	(65,367)		(139,940)

FINANCING ACTIVITIES
Net proceeds (payments) from credit facility	275,000		(30,000)








Cash dividends paid	(26,201)		(23,596)
All other cash provided by financing activities	(3,782)		4,413
Net cash provided by (used in) financing activities	245,017		(49,183)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(15,511)		(2,894)
Increase (decrease) in cash, cash equivalents, and restricted cash	329,461		(65,671)
Cash, cash equivalents, and restricted cash at beginning of period	482,836		687,525
Cash, cash equivalents, and restricted cash at end of period	$	812,297	$	621,854

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LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)


	Second Quarter						Year-to-Date
(in thousands)	2022			2021			% Growth /(Decline)		2022			2021			% Growth
Net sales
Electronics	$	358,176		$	325,347		10.1	%	$	723,997		$	611,882		18.3	%
Transportation	182,027			133,318			36.5	%	366,531			261,847			40.0	%
Industrial	78,233			64,823			20.7	%	151,238			113,553			33.2	%
Total net sales	$	618,436		$	523,488		18.1	%	$	1,241,766		$	987,282		25.8	%

Operating income
Electronics	$	105,958		$	74,236		42.7	%	$	226,535		$	129,759		74.6	%
Transportation	18,309			19,258			(4.9)	%	44,617			39,574			12.7	%
Industrial	15,285			8,375			82.5	%	27,790			11,881			133.9	%
Other(a)	(5,388)			(5,612)			N.M.		(14,188)			(8,476)			N.M.
Total operating income	$	134,164		$	96,257		39.4	%	$	284,754		$	172,738		64.8	%
Operating Margin	21.7		%	18.4		%			22.9		%	17.5		%

Interest expense	4,368			4,626					8,670			9,299
Foreign exchange loss (gain)	14,124			(1,676)					21,860			5,161
Other expense (income), net	6,060			(1,890)					10,487			(9,627)
Income before income taxes	$	109,612		$	95,197		15.1	%	$	243,737		$	167,905		45.2	%

(a) "other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments and restructuring and impairment charges. (See Supplemental Financial Information for details.)

N.M. - Not meaningful


	Second Quarter						Year-to-Date
(in thousands)	2022		2021		% Growth /(Decline)		2022		2021		% Growth /(Decline)
Operating Margin
Electronics	29.6	%	22.8	%	6.8	%	31.3	%	21.2	%	10.1	%
Transportation	10.1	%	14.4	%	(4.3)	%	12.2	%	15.1	%	(2.9)	%
Industrial	19.5	%	12.9	%	6.6	%	18.4	%	10.5	%	7.9	%

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LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In millions of USD except per share amounts - unaudited)


Non-GAAP EPS reconciliation
	Q2-22		Q2-21		YTD-22		YTD-21
GAAP diluted EPS	$	3.48	$	3.30	$	8.19	$	5.62
EPS impact of Non-GAAP adjustments (below)	0.78		0.11		1.06		0.46
Adjusted diluted EPS	$	4.26	$	3.41	$	9.25	$	6.08


Non-GAAP adjustments - (income) / expense
	Q2-22		Q2-21		YTD-22		YTD-21
Acquisition-related and integration costs (a)	$	4.8	$	0.5	$	8.6	$	1.3

Purchase accounting inventory adjustments (b)	—		3.3		4.8		6.8
Restructuring, impairment and other charges (c)	0.6		0.8		0.8		1.3
Loss (gain) on sale of fixed assets (d)	—		1.0		—		(0.9)

Non-GAAP adjustments to operating income	5.4		5.6		14.2		8.5
Other (income) expense, net (e)	(0.5)		0.5		(0.5)		0.5
Non-operating foreign exchange loss (gain)	14.1		(1.7)		21.9		5.2
Non-GAAP adjustments to income before income taxes	19.0		4.4		35.6		14.2
Income taxes (f)	(0.4)		1.7		9.1		2.5
Non-GAAP adjustments to net income	$	19.4	$	2.7	$	26.5	$	11.7

Total EPS impact	$	0.78	$	0.11	$	1.06	$	0.46


Adjusted operating margin / Adjusted EBITDA reconciliation
	Q2-22			Q2-21			YTD-22			YTD-21
Net sales	$	618.4		$	523.5		$	1,241.8		$	987.3
GAAP operating income	$	134.2		$	96.3		$	284.8		$	172.7
Add back non-GAAP adjustments	5.4			5.6			14.2			8.5
Adjusted operating income	$	139.6		$	101.9		$	299.0		$	181.2
Adjusted operating margin	22.6		%	19.5		%	24.1		%	18.4		%
Add back amortization	11.6			10.6			24.3			21.2
Add back depreciation	15.7			13.6			31.3			27.3
Adjusted EBITDA	$	166.9		$	126.1		$	354.6		$	229.7
Adjusted EBITDA margin	27.0		%	24.1		%	28.6		%	23.3		%


Adjusted EBITDA by Segment	Q2-22									Q2-21
	Electronics			Transportation			Industrial			Electronics			Transportation			Industrial
GAAP operating income	$	106.0		$	18.3		$	15.3		$	74.2		$	19.3		$	8.4
Add:
Add back amortization	6.1			4.3			1.2			7.0			2.3			1.3
Add back depreciation	8.4			6.3			1.0			8.1			4.6			0.9

Adjusted EBITDA	$	120.5		$	28.9		$	17.5		$	89.3		$	26.2		$	10.6
Adjusted EBITDA Margin	33.6		%	15.9		%	22.3		%	27.5		%	19.7		%	16.2		%

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Adjusted EBITDA by Segment	YTD-22									YTD-21
	Electronics			Transportation			Industrial			Electronics			Transportation			Industrial
GAAP operating income	$	226.5		$	44.6		$	27.8		$	129.8		$	39.6		$	11.9
Add:
Add back amortization	12.8			9.0			2.5			$	14.2		$	4.7		$	2.3
Add back depreciation	17.1			12.3			1.9			$	16.3		$	9.3		$	1.6

Adjusted EBITDA	$	256.4		$	65.9		$	32.2		$	160.3		$	53.6		$	15.8
Adjusted EBITDA Margin	35.4		%	18.0		%	21.3		%	26.2		%	20.5		%	13.9		%


Net sales reconciliation	Q2-22 vs. Q2-21
	Electronics		Transportation		Industrial		Total
Net sales growth	10	%	37	%	21	%	18	%
Less:
Acquisitions	—	%	45	%	—	%	11	%


FX impact	(3)	%	(4)	%	(1)	%	(3)	%
Organic net sales growth (decline)	13	%	(4)	%	22	%	10	%


Net sales reconciliation	YTD-22 vs. YTD-21
	Electronics		Transportation		Industrial		Total
Net sales growth	18	%	40	%	33	%	26	%
Less:
Acquisitions	—	%	44	%	8	%	13	%


FX impact	(3)	%	(4)	%	(1)	%	(3)	%
Organic net sales growth	21	%	—	%	26	%	16	%


Income tax reconciliation
	Q2-22			Q2-21			YTD-22			YTD-21
Income taxes	$	22.6		$	13.1		$	39.2		$	28.1
Effective rate	20.6		%	13.8		%	16.1		%	16.7		%
Non-GAAP adjustments - income taxes	(0.4)			1.7			9.1			2.5
Adjusted income taxes	$	22.2		$	14.8		$	48.3		$	30.6
Adjusted effective rate	17.3		%	14.8		%	17.3		%	16.8		%
Free cash flow reconciliation
	Q2-22			Q2-21			YTD-22			YTD-21
Net cash provided by operating activities	$	113.6		$	76.2		$	165.3		$	126.3
Less: Purchases of property, plant and equipment	(26.4)			(17.9)			(56.2)			(32.6)
Free cash flow	$	87.2		$	58.2		$	109.1		$	93.7

Page 10


Consolidated Total Debt	As of July 2, 2022


Consolidated Total Debt	$	892.1
Unamortized debt issuance costs	5.0
Consolidated funded indebtedness	897.1
Cash held in U.S. (up to $400 million)	400.0
Net debt	$	497.1

Consolidated EBITDA	Twelve Months Ended July 2, 2022
Net Income	$	348.5
Interest expense	17.9
Income taxes	68.3
Depreciation	60.0
Amortization	45.9
Non-cash additions (reductions):
Stock-based compensation expense	22.6
Non-cash pension settlement charge	19.9
Purchase accounting inventory step-up charge	6.4
Unrealized loss on investments	12.5
Impairment charges	—
Other	62.4
Consolidated EBITDA (1)	$	664.4

Consolidated Net Leverage Ratio (as defined in the Credit Agreement) *	0.7x

* Our Credit Agreement and Private Placement Note with maturities ranging from 2023 to 2032, contain financial ratio covenants providing that if, as of the last day of each fiscal quarter, the Consolidated Net Leverage ratio at such time for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Credit Agreement and Private Placement Senior Notes) is triggered.

The Credit Agreement and Private Placement Senior Notes were amended in Q2 2022 and now allow for the addition of acquisition and integration costs up to 15% of Consolidated EBITDA and the Netting of up to $400M of Available Cash (Cash held by US Subsidiaries).

(1) Represents Consolidated EBITDA as defined in our Credit Agreement and Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.

Note: Total will not always foot due to rounding.

(a) reflected in selling, general and administrative expenses ("SG&A").

(b) reflected in cost of sales.

(d) reflected in SG&A, a loss of $1.0 million recorded during the second quarter of 2021 for a total year-to-date gain of $0.9 million from the sale of a building within the Electronics segment 2021.

(e) 2022 amount included $0.5 million gain from the sale of a building within Transportation segment. 2021 amount included $0.5 million of impairment charges on certain other investments.

(f) reflected the tax impact associated with the non-GAAP adjustments and the one-time net benefit of $7.2 million that resulted from the dissolution of one of the Company’s affiliates.

###

1 Q2 2022 EARNINGS RELEASE August 2, 2022

2Littelfuse, Inc. © 2022 Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided herein. Littelfuse strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at investor.littelfuse.com. This website also provides additional information about Littelfuse. “Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995. The statements in this presentation that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.’s ("Littelfuse" or the "Company") current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward- looking statements. These risks and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; the severity and duration of the COVID-19 pandemic and the measures taken in response thereto and the effects of those items on the company’s business; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse’s accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This presentation should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended January 1, 2022. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended January 1, 2022, its Quarterly Report on Form 10-Q for the quarter ended April 2, 2022, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at http://www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information. Non-GAAP Financial Measures. The information included in this presentation includes the non-GAAP financial measures of organic net sales growth (decline), adjusted operating margin, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted effective tax rate, and free cash flow. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the appendix. The company believes that these non-GAAP financial measures provide useful information to investors regarding its operational performance and ability to generate cash enhancing an investor’s overall understanding of its core financial performance. The company believes that these non-GAAP financial measures are commonly used by financial analysts and provide useful information to analysts. Management uses these measures when assessing the performance of the business and for business planning purposes. Note that the definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies. DISCLAIMERS

BUSINESS UPDATE Dave Heinzmann, President & CEO

4Littelfuse, Inc. © 2022 Q2 2022 & RECENT HIGHLIGHTS ▪ Continued outperformance, driven by persistent operational execution ▪ Q2: Delivered very strong results above expectations ▪ YoY: Revenue +18%; Adjusted Diluted EPS +25% ▪ Adjusted EBITDA Margin 27% ▪ Record performance year-to-date ▪ YoY: Revenue +26%; Adjusted Operating Margin +500 bps; Adjusted Diluted EPS +52% ▪ Testament to global teams’ execution across breadth of end markets ▪ Completed acquisition of C&K Switches in July ▪ Expands ability to serve customers with market leading technologies, capabilities & talent ▪ 13% increase in quarterly cash dividend ▪ Consistent with capital allocation priorities; confidence in long-term growth of business ▪ 12% CAGR since inception

5Littelfuse, Inc. © 2022 Structural Growth Themes Sustainability Connectivity Safety 2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Our Growth Drivers Content & Share Gains Strategic Acquisitions High-Growth Markets & Geographies Outcomes Double-Digit Revenue Growth Best-in-Class Profitability Top-Tier Shareholder Returns

7Littelfuse, Inc. © 2022 LITTELFUSE & C&K SWITCHES: COMBINATION OF TWO INDUSTRY LEADING BRANDS EXPANDS COMPLEMENTARY MARKET POSITIONS ▪ Economies of scale to leverage technologies & other investments ▪ Optimization of customer facing & operational structures, leveraging respective strengths ▪ Added operational infrastructure ▪ China, France, Vietnam, Germany, India & U.S. Enables Combined Critical Scale Accelerates Growth in Strategic Applications & Markets ▪ Increases addressable market with addition of market leading electromechanical switches & interconnect solutions ▪ Broadens technical & application expertise, & engineering & design-in capabilities ▪ Technology leadership in high-precision manufacturing, miniaturization & haptics Expansion of Technologies & Capabilities ▪ Strong global presence & growth in target markets ▪ Industrial ▪ Automotive ▪ Datacom Leverages Complementary Customers & Channels ▪ Complementary go-to- market models ▪ Enhances partnerships with distribution channels ▪ Deepens customer penetration through complementary & new OEM relationships

8Littelfuse, Inc. © 2022 INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH ▪ Generating new business with application knowledge & diverse, high-quality offerings; capitalizing on sustainability & safety ▪ Expanding solution sets with multiple technologies for energy storage, solar & HVAC applications ▪ New safety & power standards generating elevated design wins in commercial kitchens, industrial equipment, motor drives & power grids Q2 2022 Highlights

9Littelfuse, Inc. © 2022 TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q2 2022 Highlights ▪ Expanding e-mobility wins within ▪ Passenger vehicles … battery management & protection, power distribution & on-board chargers ▪ Commercial vehicles … battery management & powertrain control modules for buses & two/three-wheelers ▪ Off-board charging infrastructure ▪ Automotive electronics wins for telematics, infotainment, and comfort & convenience applications ▪ Increased opportunity pipeline with Carling & Embed capabilities

10Littelfuse, Inc. © 2022 ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP Q2 2022 Highlights ▪ Capitalizing on robust design activity with greater connectivity, safety & sustainability requirements ▪ Product features & go-to-market model secured new business within ▪ Data centers & telecom infrastructure ▪ Building solutions … security systems & smart doorbells ▪ Appliances & general purpose electronics ▪ Addition of C&K expands capabilities & products; serves as a platform for continued growth

FINANCIAL UPDATE Meenal Sethna, EVP & CFO

12Littelfuse, Inc. © 2022 Highlights ▪ Financial performance above high end of guidance on sales & earnings ▪ Revenue +18% vs. prior year, +10% organic ▪ Growth across all regions ▪ GAAP operating margin 21.7%; Adjusted operating margin 22.6%, +310 bps vs prior year ▪ Margin expansion driven by volume leverage, positive price/cost & operational execution ▪ Adjusted Diluted EPS +25% vs. prior year ▪ Effective tax rate: GAAP 20.6%; Adjusted 17.3% ▪ Operating cash flow $114m; Free cash flow $87m, 100% conversion of net income Q2 2022 FINANCIAL PERFORMANCE GAAP EPS $3.30 $3.48 Adj. EPS $3.41 $4.26 Adj. EBITDA% 24.1% 27.0% $523 $618 Q2-21 Q2-22 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation

13Littelfuse, Inc. © 2022 ORGANIC INVESTMENTS INORGANIC INVESTMENTS RETURN TO SHAREHOLDERS Programs that: • Drive revenue growth • Advance internal capabilities • Enhance productivity • Maintain cost leadership • Strategic acquisitions to enhance organic growth • Value driven integration drives target financial returns • Additional resources to drive M&A integration Share Repurchases • Opportunistic • Excess cash available to deploy Dividends • 10+ years of growing dividend • 12% CAGR since inception • Grow in line with earnings PRIORITIZED DEPLOYMENT OF CASH GROWTH INVESTMENTS DRIVE INCREASING VALUE FOR SHAREHOLDERS

14Littelfuse, Inc. © 2022 Highlights ▪ Revenue growth +10% / organic +13% ▪ +600bps margin expansion ▪ Price/cost, volume & productivity improvements ▪ Project average mid 20’s op margin % ▪ Combination of execution & current market dynamicsOp Margin 22.8% 29.6% Adj. EBITDA% 27.5% 33.6% $325 $358 Q2-21 Q2-22 (in millions) Q2 2022 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE Revenue

15Littelfuse, Inc. © 2022 Highlights ▪ Revenue growth +37% / organic (-4%) ▪ Commercial vehicle +6% organic & outperformance across Carling business ▪ Passenger vehicle (-8%) organic; impacted by market … Tier 1 inventory unwind & decline in global auto production ▪ Margin headwinds from currency & negative volume leverage offsetting benefits from price realization Op Margin 14.4% 10.1% Adj. EBITDA% 19.7% 15.9% $133 $182 Q2-21 Q2-22 (in millions) Q2 2022 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE Revenue

16Littelfuse, Inc. © 2022 Highlights ▪ Revenue growth +21% / organic +22% ▪ +600bps margin expansion ▪ Price realization & ongoing operational execution ▪ Reduced logistics costs in the quarter due to COVID shutdown in China Op Margin 12.9% 19.5% Adj. EBITDA% 16.2% 22.3% $65 $78 Q2-21 Q2-22 (in millions) Q2 2022 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE Revenue

17Littelfuse, Inc. © 2022 Q3 2022 GUIDANCE Highlights ▪ Demand remains strong across most end markets ▪ Ongoing strength across industrial, transportation, most electronics markets ▪ Some softness in consumer-oriented end markets within Electronics segment...appliances & personal electronics ▪ Q3-22 ▪ Sales +18% vs prior year, +2% organic ▪ ~400bps f/x headwind ▪ EPS (-4%) vs prior year ▪ Adjusted effective tax rate ~17.5% ▪ COVID shutdown/recovery in China …Industrial & Electronics segments ▪ ~(-200) bps sales ▪ ~(-150) bps margin ▪ 2 ½ months of C&K Switches; ~(-150) bps operating margin dilution from recent acquisitions $540 Q3-21 Q3-22 Revenue $630 - $644 (in millions) See appendix for GAAP to non-GAAP reconciliation GAAP EPS $3.69 * Adj. EPS $3.95 $3.71 - $3.87

18Littelfuse, Inc. © 2022 2022 FULL YEAR CONSIDERATIONS/EXPECTATIONS ▪ Expect to remain positive price/cost for full year in current market conditions ▪ ~300bps (~$60M) sales f/x headwind ▪ C&K Switches: $90 - $95M in sales, ~$.25 EPS (5 ½ months) ▪ ~$55M non-cash amortization expense (including C&K); forward run rate ~$16M/qtr. ▪ ~$27M interest expense at current rates; forward run rate ~$9.5M/qtr. ▪ Adjusted effective tax rate 17% – 18% ▪ ~$110M – $120M capital expenditures ▪ ~100% free cash flow conversion

19Littelfuse, Inc. © 2022 KEY TAKEAWAYS ▪ Recognition of global teams for their unwavering commitment & hard work to drive results ▪ Very strong year-to-date performance ▪ Ongoing deployment of resources & capital to enable customers' applications ▪ Extremely well positioned for long-term growth within global structural themes of sustainability, connectivity, & safety ▪ Talented associates, investments for growth & operational excellence, will deliver ongoing long-term value for stakeholders