LFUS · Littelfuse, Inc.

Littelfuse delivered strong Q1 2026 results, exceeding expectations with net sales of $657 million, reflecting 19% reported growth (9% organic) fueled by broad-based demand. Electronics segment led with 18% reported growth (15% organic), driven by 22% organic growth in passive products and 8% in semiconductors, achieving adjusted EBITDA margin expansion to 25.1% (+300 bps) from volume leverage. Transportation grew 5% reported (1% organic), supported by passenger vehicle content expansion and pricing amid lower commercial vehicle sales due to marine business exit, with margins up 200 bps to 19.1%. Industrial surged 45% reported (5% organic), boosted by 39% from Basler acquisition and strength in grid/utility infrastructure and data centers, lifting adjusted EBITDA margin to 21.9% (+340 bps). CEO Greg Henderson highlighted execution on strategic priorities, market demand, and leadership in safe electrical energy transfer. Cash generation remained robust at $80 million operating cash flow and $66 million free cash flow (+55% YoY). Q2 guidance signals continued momentum with $690-710 million sales (+14% YoY, 8% organic, 6% Basler) and adjusted EPS $3.65-3.85 (+32% YoY midpoint), backed by strong backlog and customer partnerships. A $0.75/share dividend underscores capital return commitment, while the May 14 Investor Day will detail strategy and growth drivers.