# EDGAR Filing Document

**Accession Number:** 0000889331
**File Stem:** 0000889331-23-000003
**Filing Date:** 2023-2
**Character Count:** 48798
**Document Hash:** 1783fd965eb00efa2d90e4a13615927d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000889331-23-000003.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0000889331-23-000003

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20230201

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LITTELFUSE INC /DE
- **CENTRAL INDEX KEY:** 0000889331
- **STANDARD INDUSTRIAL CLASSIFICATION:** SWITCHGEAR & SWITCHBOARD APPARATUS [3613]
- **IRS NUMBER:** 363795742
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-20388
- **FILM NUMBER:** 23577715

**BUSINESS ADDRESS:**
- **STREET 1:** 8755 WEST HIGGINS ROAD
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60631
- **BUSINESS PHONE:** 773-628-1000

**MAIL ADDRESS:**
- **STREET 1:** 8755 WEST HIGGINS ROAD
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60631

?xml version="1.0" ? lfus-20230201

**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: **February 1, 2023** 

(Date of earliest event reported)

**LITTELFUSE, INC.** 

(Exact name of registrant as specified in its charter)

Delaware 0-20388 36-3795742 <br> (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:

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| | | |
|:---|:---|:---|
| 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. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

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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 February 1, 2023, Littelfuse, Inc. (the "Company") issued a press release announcing the results of its operations for the quarter and full year ended December 31, 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.

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| | |
|:---|:---|
| **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 <u>https://investor.littelfuse.com/events-and-presentations</u> 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.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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| | |
|:---|:---|
| (d) | *Exhibits* |
| | The following exhibits are furnished with this Form 8-K: |
| | &nbsp;&nbsp;&nbsp;&nbsp;<u>[99.1 Press Release, dated February 1, 2023](q42022ex991.htm)</u> |
| | &nbsp;&nbsp;&nbsp;&nbsp;<u>[99.2 Littelfuse Presentation dated February 1, 2023](q4-22earningsreleaseslid.htm)</u> |

---

------

**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.

---

| | |
|:---|:---|
| | &nbsp;&nbsp;&nbsp;Littelfuse, Inc. |
| &nbsp;&nbsp;&nbsp;Date: February 1, 2023 | By: <u>/s/ Meenal A. Sethna</u> |
|  | Meenal A. Sethna<br>Executive Vice President and Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| ![lfuslogo2a.jpg](lfuslogo2a.jpg) | ![lfuselogo1a.jpg](lfuselogo1a.jpg) |
| **NEWS RELEASE** | Littelfuse Inc.<br>8755 West Higgins Road, Suite 500<br>Chicago, Illinois 60631<br>p: (773) 628-1000 f: (773) 628-0802<br>**www.littelfuse.com** |

---

**<u>LITTELFUSE REPORTS FOURTH QUARTER AND FULL YEAR RESULTS FOR 2022</u>**

*Record annual sales, earnings and cash generation driven by resilient business model and growth strategy*

CHICAGO, February 1, 2023 - Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the fourth quarter and full year ended December 31, 2022:

<u>Fourth Quarter 2022 Results</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $613.3 million were up 11% versus the prior year period, and up 4% organically

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted EPS was $3.74, an increase of 80% from the prior year period; adjusted diluted EPS was $3.34, up 6% versus the prior year period

<u>Full Year 2022 Results</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $2.5 billion were up 21% in total versus the prior year, and up 11% organically

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GAAP diluted EPS was $14.94, up 31% versus the prior year; adjusted diluted EPS of $16.87 increased 28% versus the prior year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash flow from operations was $419.7 million and free cash flow was $315.4 million, both 12% higher than the prior year

"In 2022 we achieved record levels of sales, earnings and cash generation, including double-digit sales growth in each of our business segments," said Dave Heinzmann, Littelfuse President and Chief Executive Officer. "We achieved these outstanding results by continuing to expand our leadership in high-growth markets with significant new business wins and adding over $200 million in sales from two acquisitions. I want to thank our global teams for their hard work and persistent commitment to serve our customers. Our demonstrated ability to drive double-digit growth over the past five-, ten-, and fifteen-year periods speaks to the resiliency of our business model and the strength of our growth strategy. Though we may see some near-term market challenges, I am confident our ongoing execution, investments and diversification position us to deliver continued, substantial value to all of our stakeholders."

<u>First Quarter of 2023\*</u>

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales in the range of $575 to $605 million, adjusted diluted EPS in the range of $2.73 to $2.97 and an adjusted effective tax rate of approximately 19%

-more-

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*\*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.*

<u>Dividend</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The company will pay a cash dividend on its common stock of $0.60 per share on March 9, 2023, to shareholders of record as of February 23, 2023

<u>Conference Call and Webcast Information</u>

Littelfuse will host a conference call on Thursday, February 2, 2023, 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.

<u>About Littelfuse</u>

Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 18,000 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.

***<u>"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995</u>***

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.

-more-

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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 October 1, 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.

***<u>Non-GAAP Financial Measures</u>***

The information included in this press release includes the non-GAAP financial measures of organic net sales growth, 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, 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.**

**CONSOLIDATED BALANCE SHEETS**

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| | | |
|:---|:---|:---|
| **(in thousands)** | **December 31, 2022** | **January 1, 2022** |
| | **(Unaudited)** | |
| **ASSETS** | | |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $562588 | $478473 |
| &nbsp;&nbsp;&nbsp;Short-term investments | 84 | 28 |
| &nbsp;&nbsp;Trade receivables, less allowances of $83,562 and $59,232, respectively | 306578 | 275192 |
| &nbsp;&nbsp;&nbsp;Inventories | 547690 | 445671 |
| &nbsp;&nbsp;&nbsp;Prepaid income taxes and income taxes receivable | 7215 | 2035 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 87641 | 68812 |
| Total current assets | 1511796 | 1270211 |
| Net property, plant, and equipment | 481110 | 437889 |
| Intangible assets, net of amortization | 593970 | 407126 |
| Goodwill | 1186922 | 929790 |
| Investments | 24121 | 39211 |
| Deferred income taxes | 14367 | 13127 |
| Right of use lease assets, net | 57382 | 29616 |
| Other assets | 34066 | 24734 |
| Total assets | $3903734 | $3151704 |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $208571 | $222039 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 187057 | 159689 |
| &nbsp;&nbsp;&nbsp;Accrued income taxes | 41793 | 27905 |
| &nbsp;&nbsp;&nbsp;Current portion of long-term debt | 134874 | 25000 |
| Total current liabilities | 572295 | 434633 |
| Long-term debt, less current portion | 866623 | 611897 |
| Deferred income taxes | 100230 | 81289 |
| Accrued post-retirement benefits | 28037 | 37037 |
| Non-current lease liabilities | 45661 | 22305 |
| Other long-term liabilities | 79510 | 71023 |
| Total equity | 2211378 | 1893520 |
| Total liabilities and equity | $3903734 | $3151704 |

---

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**LITTELFUSE, INC.**

**CONSOLIDATED STATEMENTS OF NET INCOME**

&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Fiscal Year Ended** | **Fiscal Year Ended** |
| **(in thousands, except per share data)** | **December 31, 2022** | **January 1, 2022** | **December 31, 2022** | **January 1, 2022** |
| Net sales | $613251 | $553065 | $2513897 | $2079928 |
| Cost of sales | 384726 | 353573 | 1506984 | 1308002 |
| Gross profit | 228525 | 199492 | 1006913 | 771926 |
| Selling, general, and administrative expenses | 85993 | 75667 | 344813 | 275457 |
| Research and development expenses | 26806 | 19747 | 95602 | 65940 |
| Amortization of intangibles | 15812 | 11121 | 55695 | 42729 |
| Restructuring, impairment, and other charges | 5712 | 160 | 9977 | 2158 |
| Total operating expenses | 134323 | 106695 | 506087 | 386284 |
| Operating income | 94202 | 92797 | 500826 | 385642 |
| Interest expense | 9147 | 4626 | 26216 | 18527 |
| Foreign exchange (gain) loss | (15692) | 8843 | 24359 | 17158 |
| Other (income) expense, net | (2582) | 19799 | 7207 | 8932 |
| Income before income taxes | 103329 | 59529 | 443044 | 341025 |
| Income taxes | 10025 | 7585 | 69738 | 57219 |
| Net income | $93304 | $51944 | $373306 | $283806 |
| Income per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $3.77 | $2.11 | $15.09 | $11.54 |
| &nbsp;&nbsp;&nbsp;Diluted | $3.74 | $2.08 | $14.94 | $11.38 |
| Weighted-average shares and equivalent shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 24758 | 24660 | 24734 | 24603 |
| &nbsp;&nbsp;&nbsp;Diluted | 24978 | 25001 | 24986 | 24932 |
| Comprehensive income | 139811 | 74009 | 351005 | 301500 |

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**LITTELFUSE, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

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| | | |
|:---|:---|:---|
| | **Year Ended** | **Year Ended** |
| **(in thousands)** | **December 31, 2022** | **January 1, 2022** |
| **OPERATING ACTIVITIES** | | |
| Net income | $373306 | $283806 |
| Adjustments to reconcile net income to net cash provided by operating activities | 188871 | 147276 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Trade receivables | (19334) | (10234) |
| &nbsp;&nbsp;&nbsp;Inventories | (89235) | (104555) |
| &nbsp;&nbsp;&nbsp;Accounts payable | (22403) | 40481 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities and income taxes | (9756) | 30793 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (1731) | (14223) |
| Net cash provided by operating activities | 419718 | 373344 |
| **INVESTING ACTIVITIES** |  |  |
| Acquisitions of businesses, net of cash acquired | (532670) | (423633) |
| Purchases of property, plant, and equipment | (104341) | (90562) |
| Net proceeds from sale of property, plant, and equipment, and other | 676 | 15425 |
| Other | (62) | (390) |
| Net cash used in investing activities | (636397) | (499160) |
| **FINANCING ACTIVITIES** |  |  |
| Net proceeds (payments) of credit facility and senior notes | 371250 | (32619) |
| Cash dividends paid | (55911) | (49730) |
| All other cash (used in) provided by financing activities | (5137) | 13365 |
| Net cash provided by (used in) financing activities | 310202 | (68984) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (11420) | (9889) |
| Increase (decrease) in cash, cash equivalents, and restricted cash | 82103 | (204689) |
| Cash, cash equivalents, and restricted cash at beginning of period | 482836 | 687525 |
| Cash, cash equivalents, and restricted cash at end of period | $564939 | $482836 |

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**LITTELFUSE, INC.**

**NET SALES AND OPERATING INCOME BY SEGMENT**

**(Unaudited)**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Fourth Quarter** | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** |
| **(in thousands)** | **2022** | **2021** | **%<br>Growth /(Decline)** | **2022** | **2021** | **%<br>Growth /(Decline)** |
| Net sales |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Electronics | $371193 | $341622 | 8.7% | $1492819 | $1300744 | 14.8% |
| &nbsp;&nbsp;&nbsp;Transportation | 167874 | 141796 | 18.4% | 716140 | 528058 | 35.6% |
| &nbsp;&nbsp;&nbsp;Industrial | 74184 | 69647 | 6.5% | 304938 | 251126 | 21.4% |
| Total net sales | $613251 | $553065 | 10.9% | $2513897 | $2079928 | 20.9% |
| Operating income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Electronics | $91941 | $79350 | 15.9% | $431616 | $309633 | 39.4% |
| &nbsp;&nbsp;&nbsp;Transportation | 5935 | 10599 | (44.0)% | 63539 | 65979 | (3.7)% |
| &nbsp;&nbsp;&nbsp;Industrial | 8885 | 4169 | 113.1% | 48853 | 22621 | 116.0% |
| &nbsp;&nbsp;&nbsp;Other (a) | (12559) | (1321) | N.M. | (43182) | (12591) | N.M. |
| Total operating income | $94202 | $92797 | 1.5% | $500826 | $385642 | 29.9% |
| &nbsp;&nbsp;&nbsp;*Operating Margin* | *15.4 %* | *16.8 %* |  | *19.9 %* | *18.5 %* |  |
| Interest expense | 9147 | 4626 |  | 26216 | 18527 |  |
| Foreign exchange (gain) loss | (15692) | 8843 |  | 24359 | 17158 |  |
| Other (income) expense, net | (2582) | 19799 |  | 7207 | 8932 |  |
| Income before income taxes | $103329 | $59529 | 73.6% | $443044 | $341025 | 29.9% |

---

(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

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Fourth Quarter** | **Fourth Quarter** | **Fourth Quarter** | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** |
| **(in thousands)** | **2022** | **2021** | **%<br>Growth /(Decline)** | **2022** | **2021** | **%<br>Growth /(Decline)** |
| Operating Margin |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Electronics | 24.8% | 23.2% | 1.6% | 28.9% | 23.8% | 5.1% |
| &nbsp;&nbsp;&nbsp;Transportation | 3.5% | 7.5% | (4.0)% | 8.9% | 12.5% | (3.6)% |
| &nbsp;&nbsp;&nbsp;Industrial | 12.0% | 6.0% | 6.0% | 16.0% | 9.0% | 7.0% |

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**LITTELFUSE, INC.**

**SUPPLEMENTAL FINANCIAL INFORMATION**

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **Non-GAAP EPS reconciliation** | | | | |
| |<br>**Q4-22** |<br>**Q4-21** |<br>**YTD-22** |<br>**YTD-21** |
| GAAP diluted EPS | $3.74 | $2.08 | $14.94 | $11.38 |
| EPS impact of Non-GAAP adjustments (below) | (0.40) | 1.08 | 1.93 | 1.81 |
| Adjusted diluted EPS | $3.34 | $3.16 | $16.87 | $13.19 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Non-GAAP adjustments - (income) / expense** | | | | |
| |<br>**Q4-22** |<br>**Q4-21** |<br>**YTD-22** |<br>**YTD-21** |
| Acquisition-related and integration costs (a) | $2.8 | $3.6 | $17.6 | $7.0 |
| Purchase accounting inventory adjustments (b) | 4.0 | 1.6 | 15.6 | 8.4 |
| Restructuring, impairment and other charges (c) | 5.7 | 0.2 | 10.0 | 2.2 |
| Gain on sale of fixed assets (d) |  | (4.1) |  | (5.0) |
| Non-GAAP adjustments to operating income | 12.5 | 1.3 | 43.2 | 12.6 |
| Other expense (income), net (e) |  | 20.8 | (0.5) | 21.4 |
| Non-operating foreign exchange (gain) loss | (15.7) | 8.9 | 24.4 | 17.2 |
| &nbsp;&nbsp;&nbsp;Non-GAAP adjustments to income before income taxes | (3.2) | 31.0 | 67.1 | 51.2 |
| Income taxes (f) | 6.8 | 3.9 | 19.0 | 6.0 |
| Non-GAAP adjustments to net income | $(10.0) | $27.1 | $48.1 | $45.2 |
| Total EPS impact | $(0.40) | $1.08 | $1.93 | $1.81 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Adjusted operating margin / Adjusted EBITDA reconciliation** | | | | |
| |<br>**Q4-22** |<br>**Q4-21** |<br>**YTD-22** |<br>**YTD-21** |
| Net sales | $613.3 | $553.1 | $2513.9 | $2079.9 |
| &nbsp;&nbsp;&nbsp;GAAP operating income | $94.2 | $92.8 | $500.8 | $385.6 |
| &nbsp;&nbsp;&nbsp;Add back non-GAAP adjustments | 12.5 | 1.3 | 43.2 | 12.6 |
| Adjusted operating income | $106.7 | $94.1 | $544.0 | $398.2 |
| *Adjusted operating margin* | *17.4 %* | *17.0 %* | *21.6 %* | *19.1 %* |
| &nbsp;&nbsp;Add back amortization | 15.8 | 11.1 | 55.7 | 42.7 |
| &nbsp;&nbsp;&nbsp;Add back depreciation | 16.7 | 14.5 | 65.0 | 55.9 |
| Adjusted EBITDA | $139.2 | $119.7 | $664.7 | $496.8 |
| *Adjusted EBITDA margin* | *22.7 %* | *21.6 %* | *26.4 %* | *23.9 %* |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Adjusted EBITDA by Segment** | **Q4-22** | **Q4-22** | **Q4-22** | **Q4-21** | **Q4-21** | **Q4-21** |
|  | Electronics | Transportation | Industrial | Electronics | Transportation | Industrial |
| GAAP operating income | $91.9 | $5.9 | $8.9 | $79.4 | $10.6 | $4.2 |
| Add: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Add back amortization | 10.2 | 4.4 | 1.2 | 6.9 | 3.0 | 1.2 |
| &nbsp;&nbsp;&nbsp;Add back depreciation | 9.0 | 6.7 | 1.0 | 8.6 | 4.9 | 1.0 |
| Adjusted EBITDA | $111.1 | $17.0 | $11.1 | $94.9 | $18.5 | $6.4 |
| Adjusted EBITDA Margin | 29.9% | 10.1% | 14.9% | 27.8% | 13.0% | 9.1% |

---

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---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Adjusted EBITDA by Segment** | **YTD-22** | **YTD-22** | **YTD-22** | **YTD-21** | **YTD-21** | **YTD-21** |
|  | Electronics | Transportation | Industrial | Electronics | Transportation | Industrial |
| GAAP operating income | $431.6 | $63.5 | $48.9 | $309.6 | $66.0 | $22.6 |
| Add: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Add back amortization | 32.7 | 18.1 | 4.9 | $27.9 | $10.1 | $4.7 |
| &nbsp;&nbsp;&nbsp;Add back depreciation | 35.5 | 25.6 | 3.9 | $33.6 | $18.9 | $3.4 |
| Adjusted EBITDA | $499.8 | $107.2 | $57.7 | $371.1 | $95.0 | $30.7 |
| Adjusted EBITDA Margin | 33.5% | 15.0% | 18.9% | 28.5% | 18.0% | 12.2% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Net sales reconciliation** | **Q4-22 vs. Q4-21** | **Q4-22 vs. Q4-21** | **Q4-22 vs. Q4-21** | **Q4-22 vs. Q4-21** |
|  | Electronics | Transportation | Industrial | Total |
| Net sales growth | 9% | 18% | 7% | 11% |
| Less: |  |  |  |  |
| &nbsp;&nbsp;Acquisitions | 13% | 22% | —% | 14% |
| &nbsp;&nbsp;53<sup>rd</sup> week of extra sales in fiscal year 2021 | (3)% | (4)% | (5)% | (3)% |
| &nbsp;&nbsp;FX impact | (3)% | (6)% | (1)% | (4)% |
| Organic net sales growth | 2% | 6% | 13% | 4% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Net sales reconciliation** | **YTD-22 vs. YTD-21** | **YTD-22 vs. YTD-21** | **YTD-22 vs. YTD-21** | **YTD-22 vs. YTD-21** |
|  | Electronics | Transportation | Industrial | Total |
| Net sales growth | 15% | 36% | 21% | 21% |
| Less: |  |  |  |  |
| &nbsp;&nbsp;Acquisitions | 7% | 40% | 4% | 14% |
| &nbsp;&nbsp;53<sup>rd</sup> week of extra sales in fiscal year 2021 | (1)% | (1)% | (2)% | (1)% |
| FX impact | (3)% | (5)% | (1)% | (3)% |
| Organic net sales growth | 12% | 2% | 20% | 11% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Income tax reconciliation** | | | | |
| |<br>**Q4-22** |<br>**Q4-21** |<br>**YTD-22** |<br>**YTD-21** |
| Income taxes | $10.0 | $7.6 | $69.7 | $57.2 |
| Effective rate | *9.7 %* | *12.7 %* | *15.7 %* | *16.8 %* |
| Non-GAAP adjustments - income taxes | 6.8 | 3.9 | 19.0 | 6.0 |
| Adjusted income taxes | $16.8 | $11.5 | $88.7 | $63.2 |
| Adjusted effective rate | *16.8 %* | *12.7 %* | *17.4 %* | *16.1 %* |
| **Free cash flow reconciliation** |  |  |  |  |
|  | **Q4-22** | **Q4-21** | **YTD-22** | **YTD-21** |
| Net cash provided by operating activities | $106.3 | $132.6 | $419.7 | $373.3 |
| Less: Purchases of property, plant and equipment | (26.5) | (33.0) | (104.3) | (90.6) |
| Free cash flow | $79.8 | $99.6 | $315.4 | $282.7 |

---

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| | |
|:---|:---|
| **Consolidated Total Debt** | **As of December 31, 2022** |
| Consolidated Total Debt | $1001.5 |
| &nbsp;&nbsp;&nbsp;Unamortized debt issuance costs | 4.8 |
| &nbsp;&nbsp;Finance lease liability | $1.8 |
| Consolidated funded indebtedness | $1008.1 |
| &nbsp;&nbsp;Cash held in U.S. (up to $400 million) | $110.6 |
| Net debt | $897.5 |
| **Consolidated EBITDA** | **Twelve Months Ended<br>December 31, 2022** |
| Net Income | $373.3 |
| Interest expense | 26.2 |
| Income taxes | 69.7 |
| Depreciation | 65.0 |
| Amortization | 55.7 |
| Non-cash additions: |  |
| &nbsp;&nbsp;&nbsp;Stock-based compensation expense | 23.6 |
| &nbsp;&nbsp;&nbsp;Purchase accounting inventory step-up charge | 15.6 |
| &nbsp;&nbsp;&nbsp;Unrealized loss on investments | 14.0 |
| &nbsp;&nbsp;&nbsp;Impairment charges | 4.5 |
| &nbsp;&nbsp;&nbsp;Other | 81.9 |
| **Consolidated EBITDA (1)** | $729.5 |
| **Consolidated Net Leverage Ratio (as defined in the Credit Agreement) \*** | 1.2x |

---

\* 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.

(c) reflected in restructuring, impairment and other charges.

(d) reflected a gain of $4.1 million recorded in SG&A during the fourth quarter of 2021 for a total year-to-date gain of $5.0 million from the sale of two buildings within the Electronics segment during 2021.

(e) 2022 year-to-date amount included $0.5 million gain from the sale of a building within the Transportation segment. Q4 2021 included a $19.9 million non-cash pension settlement charge, a $0.7 million charge for an asset retirement obligation related to the disposal of a business in 2019 and a $0.2 million increase in coal mining reserves. 2021 year-to-date amount also included $0.5 million of impairment charges on certain other investments.

(f) reflected the tax impact associated with the non-GAAP adjustments.

## Exhibit 99.2

![](q4-22earningsreleaseslid001.jpg)

1 Q4 2022 EARNINGS RELEASE February 1, 2023

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![](q4-22earningsreleaseslid002.jpg)

2Littelfuse, Inc.© 2023 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 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, 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, adjusted operating margin, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted effective tax rate, free cash flow, and consolidated net leverage ratio (as defined in the credit agreement). 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, ability to generate cash and its credit position 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

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![](q4-22earningsreleaseslid003.jpg)

BUSINESS UPDATE Dave Heinzmann, President & CEO

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![](q4-22earningsreleaseslid004.jpg)

4Littelfuse, Inc.© 2023 2022 HIGHLIGHTS  Record annual performance  Revenue of $2.5 billion  YoY: +21%; Organic +11%  Adj. Operating Margin 22%  Adj. Diluted EPS $16.87  YoY: +28%  Double-digit sales growth across all business segments  Expanded leadership & diversification in high-growth end markets & geographies  Significant new business wins across industrial, transportation & electronics markets  Two strategic acquisitions adding over $200m in sales  Significant progress integrating Carling & C&K businesses  Strong results reflect commercial, engineering & operational excellence

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5Littelfuse, Inc.© 2023 2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD Revenue Growth 32% Organic Growth ~20% Adj. EPS 60% 2-year CAGR\* Our capabilities, investments and diversification deliver significant value \*Base FY 2020

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![](q4-22earningsreleaseslid006.jpg)

6Littelfuse, Inc.© 2023 EXECUTING GROWTH STRATEGY $1B IN CAPITAL DEPLOYMENT ON STRATEGIC ACQUISITIONS Accelerate Success in Higher Growth Applications & Markets • HVAC • e-Mobility • Commercial vehicle electronification • 5G telecom • Datacom • Commercial vehicle electronification • e-Mobility • Industrial • Automotive • Datacom Expand Geographic Penetration • Asia based customer expansion in commercial vehicles • Expanded operational footprint, with added capabilities in France, India & Vietnam Leverage Core Competencies • Expansion of OEM customer base • Strengthens design & engineering expertise • Expansion of OEM customer base • Enhances partnership with distribution channels • Strengthens design & engineering expertise • Expands software & firmware capabilities • Strengthens design & engineering expertise • Expands software & firmware capabilities • Enhances partnership with distribution channels • Technology leadership in high-precision manufacturing, miniaturization & haptics $100M+ Sales Jan 2021 $180M+ Sales Nov 2021 Technology Enabler Apr 2022 $200M+ Sales July 2022 Diversification expands global addressable market opportunities to $20+B

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7Littelfuse, Inc.© 2023 Progress:  Enterprise-wide Diversity, Inclusion & Belonging Advisory Council  Multiple employee resource groups  Company mentoring initiatives to support associate development COMMITMENT TO SUSTAINABILITY DIVERSE PEOPLE. BOLD SOLUTIONS. SUSTAINED SUCCESS. Environmental Social Governance Progress:  Global programs to reduce energy, water, emissions & waste  Product Environmental Compliance Steering Committee  Direct material supplier sustainability self-assessments 2021 SUSTAINABILITY REPORT available on Littelfuse.com Goal: Targeting Greenhouse Gas (GHG) reduction of 38% by 2035 Goals: Increasing global female leadership to at least 25%, and U.S. Black / African American employees to at least 5% by 2026 Goals: Board oversight of sustainability program & robust training curriculum Progress:  Oversight of sustainability program by Nominating & Governance Committee  Senior leader compensation tied to ESG performance  21 world-wide training campaigns Framework Alignment

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![](q4-22earningsreleaseslid008.jpg)

8Littelfuse, Inc.© 2023 INDUSTRIAL END MARKETS POSITIONED FOR ACCELERATED GROWTH  Growth driven by leading technical expertise & high-performing technologies  Capabilities critical for sustainability & safety applications; significant business wins  Renewables … solar, wind, energy storage  HVAC systems  Electrical infrastructure  Motor drives & power supplies  Factory automation  Rate of new business wins accelerating 2022 Highlights

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![](q4-22earningsreleaseslid009.jpg)

9Littelfuse, Inc.© 2023 TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION 2022 Highlights  Significant passenger vehicle design wins  $550M+ LOP\* business wins; over half are on electrified platforms  Average content across vehicles grown to ~$7  Continued double-digit content outgrowth\*\*  Substantial commercial vehicle design wins  Electrification: trucks, buses & two/three- wheelers, battery management systems, on-board chargers, & powertrain control modules  Broader applications: heavy-duty trucks, material handling, con/ag equipment, & rail traction  Increased design wins for off-board charging infrastructure \*LOP = Life of Programs \*\*2019-2022

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![](q4-22earningsreleaseslid010.jpg)

10Littelfuse, Inc.© 2023 ELECTRONICS END MARKETS EXPANDING OUR LEADERSHIP 2022 Highlights  Enhanced global reach & portfolio with acquisitions  C&K integration on-track; new design wins  Secured multi-technology design wins in sustainability, connectivity, & safety applications  Hand tools & appliances  Building technologies & automation  Security systems & medical devices  Expanded collective market positions with industry leading brands; serves as platform for continued growth

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![](q4-22earningsreleaseslid011.jpg)

FINANCIAL UPDATE Meenal Sethna, EVP & CFO

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![](q4-22earningsreleaseslid012.jpg)

12Littelfuse, Inc.© 2023 Highlights  Revenue +11% vs PY, +4% organic  Organic adjusted for acquisitions, foreign exchange (F/X) and Q4 '22 14th week  GAAP operating margin 15.4%; Adj. operating margin 17.4%, +40bps vs PY  Adj. EPS +6% vs PY  Effective tax rate: GAAP 9.7%; Adj. 16.8% Q4 2022 TOTAL COMPANY FINANCIAL PERFORMANCE GAAP EPS $2.08 $3.74 Adj. EPS $3.16 $3.34 Adj. EBITDA% 21.6% 22.7% $553 $613 Q4-21 Q4-22 Revenue (in millions) See appendix for GAAP to non-GAAP reconciliation

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![](q4-22earningsreleaseslid013.jpg)

13Littelfuse, Inc.© 2023  Revenue +21% vs PY, +11% organic  Organic adjusted for acquisitions, foreign exchange (F/X) & Q4 '22 14th week  GAAP operating margin 19.9%; Adj. operating margin 21.6%, +250bps vs PY  Incremental margins +34%  Positive price / cost for the year  Adj. EPS +28% vs PY  Effective tax rate: GAAP 15.7%; Adj. 17.4%  Operating cash flow $420m; Free cash flow $315m  Both 12+% growth over PY  Free cash flow conversion of net income 84%  YE 2022 net debt to EBITDA leverage 1.2X FY 2022 TOTAL COMPANY FINANCIAL PERFORMANCE GAAP EPS $11.38 $14.94 Adj. EPS $13.19 $16.87 Adj. EBITDA% 23.9% 26.4% (in billions) See appendix for GAAP to non-GAAP reconciliation $2.08B $2.51B FY-21 FY-22 Revenue Highlights

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![](q4-22earningsreleaseslid014.jpg)

14Littelfuse, Inc.© 2023 $342 $371 Q4-21 Q4-22 $1,301 $1,493 FY-21 FY-22 Q4 & FY 2022 ELECTRONICS SEGMENT FINANCIAL PERFORMANCE Q4 2022 Revenue FY 2022 Revenue  Revenue growth +9% / organic +2%  Continued robust operating margins  Market dynamics  Strength across industrial markets & electrification themes; Softness in several electronics markets  Increasing trajectory in channel inventory reductions (in millions)  Revenue growth +15% / organic +12%  Record profitability  Margin expansion +500bps  Positive price/cost, robust volumes, productivity initiatives  C&K Switches integration off to a strong start Op Margin 23.2% 24.8% Adj. EBITDA% 27.8% 29.9% Op Margin 23.8% 28.9% Adj. EBITDA% 28.5% 33.5% See appendix for GAAP to non-GAAP reconciliation

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![](q4-22earningsreleaseslid015.jpg)

15Littelfuse, Inc.© 2023 $142 $168 Q4-21 Q4-22 $528 $716 FY-21 FY-22 Q4 & FY 2022 TRANSPORTATION SEGMENT FINANCIAL PERFORMANCE Q4 2022 Revenue FY 2022 Revenue  Revenue growth +18% / organic +6%  Passenger vehicle +5% organic  Continued customer inventory unwind  Commercial vehicle +7% organic  Sequential sales decline from Carling customer inventory rebalancing  (-200)bps F/X margin impact; Unabsorbed costs from lower production volumes (in millions)  Revenue growth +36% / organic +2%  Passenger vehicle (-1)% organic  Impacted by customer inventory unwind  Commercial vehicle +9% organic; Year 1 Carling acquisition…+20% growth over previous standalone year  Profitability focus…ongoing pricing actions; Add'l cost reduction actions  Expect progressive margin improvements Op Margin 7.5% 3.5% Adj. EBITDA% 13.0% 10.1% Op Margin 12.5% 8.9% Adj. EBITDA% 18.0% 15.0% See appendix for GAAP to non-GAAP reconciliation

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![](q4-22earningsreleaseslid016.jpg)

16Littelfuse, Inc.© 2023 $70 $74 Q4-21 Q4-22 $251 $305 FY-21 FY-22 Q4 & FY 2022 INDUSTRIAL SEGMENT FINANCIAL PERFORMANCE Q4 2022 Revenue FY 2022 Revenue  Revenue growth +7% / organic +13%  Broad-based end market strength  Ongoing design wins  +600 bps op margin expansion vs PY (in millions)  Revenue growth +21% / organic +20%  Strong end market demand / high backlog entering 2022 & focus on high-growth end markets  +700 bps op margin expansion vs PY  Operational execution, managed well across price / cost Op Margin 6.0% 12.0% Adj. EBITDA% 9.1% 14.9% Op Margin 9.0% 16.0% Adj. EBITDA% 12.2% 18.9% See appendix for GAAP to non-GAAP reconciliation

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![](q4-22earningsreleaseslid017.jpg)

17Littelfuse, Inc.© 2023 Q1 2023 GUIDANCE  Macro View entering 2023  End markets… continued growth in eMobility, industrial, commercial vehicle; weakness in several electronics markets  Accelerating inventory rebalancing at channel partners through H1 '23 in Electronics segment  Ongoing customer inventory reductions in Transportation segment  Continued inflationary trends  Q1 Sales $575 - $605m  Vs. PY, (-5)%, (-11)% organic  Vs. Q4 '22, (-4)%; sales decline in Electronics segment, growth in Industrial & Transportation segments  Q1 EPS $2.73 - $2.97  Record Q1 '22 creates challenging comparable  Vs. Q4, sequential (-15)%  Tax rate ~19% (in millions) See appendix for GAAP to non-GAAP reconciliation $623 $613 $605 - $575 Q1-22 Q4-22 Q1-23 Revenue Adj. EPS\* $4.99 $3.34 $2.73 - $2.97 GAAP EPS $4.70 $3.74 \* Highlights

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![](q4-22earningsreleaseslid018.jpg)

18Littelfuse, Inc.© 2023 FULL YEAR 2023 CONSIDERATIONS / EXPECTATIONS  F/X – immaterial impact to 2023 sales / earnings at current F/X rates  Expect to maintain FY company adj. operating margin at 17 – 19%; By segment:  Electronics >20%  Industrial upper teens  Transportation progressive improvement, double-digits in back half of year  Other Assumptions  $64m amortization expense  $40m interest expense at current rates  Tax rate ~18%  Investing $110 - $120m in capital expenditures

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![](q4-22earningsreleaseslid019.jpg)

19Littelfuse, Inc.© 2023 DIVERSIFICATION OF TECHNOLOGIES, END MARKETS & GEOGRAPHIES DELIVERS DOUBLE-DIGIT REVENUE & EARNINGS CAGR $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 $16.00 $18.00 $0 $250 $500 $750 $1,000 $1,250 $1,500 $1,750 $2,000 $2,250 $2,500 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 EP S Sa le s Revenue (M$) Adjusted EPS Resilient business model & strong growth strategy  Expanded market leadership & profitability  Playbook to successfully manage through dynamic environments  Prioritizing long-term strategic investments & managing cost structure  Experienced global teams \*15-yr: 2007 - 2022; 10-yr: 2012 - 2022; 5-yr: 2017 - 2022 15-, 10-, 5-yr CAGRs\* Sales +11% to +16% Adj EPS +17%

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20Littelfuse, Inc.© 2023 Q&A

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![](q4-22earningsreleaseslid021.jpg)

21Littelfuse, Inc.© 2023 APPENDIX

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![](q4-22earningsreleaseslid022.jpg)

22Littelfuse, Inc.© 2023 SUPPLEMENTAL FINANCIAL INFORMATION

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![](q4-22earningsreleaseslid023.jpg)

23Littelfuse, Inc.© 2023 SUPPLEMENTAL FINANCIAL INFORMATION CONT'D

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![](q4-22earningsreleaseslid024.jpg)

24Littelfuse, Inc.© 2023 SUPPLEMENTAL FINANCIAL INFORMATION CONT'D

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![](q4-22earningsreleaseslid025.jpg)

25Littelfuse, Inc.© 2023 SUPPLEMENTAL FINANCIAL INFORMATION CONT'D

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26Littelfuse, Inc.© 2023 SUPPLEMENTAL FINANCIAL INFORMATION CONT'D

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