Record annual sales, earnings, and cash generation driven by resilient business model and growth strategy.
芝加哥2023年2月1日讯 -- Littelfuse公司 (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the fourth quarter and full year ended 2022年12月31日:
Fourth Quarter 2022 Results
- Net sales of $613.3 million were up 11% versus the prior year period, and up 4% organically.
- 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.
Full Year 2022 Results
- Net sales of $2.5 billion were up 21% in total versus the prior year, and up 11% organically.
- GAAP diluted EPS was $14.94, up 31% versus the prior year; adjusted diluted EPS of $16.87 increased 28% versus the prior year.
- 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."
First Quarter of 2023*
Based on current market conditions, for the first quarter the company expects,
- Net sales in the range of $575 至 $605 million, adjusted diluted EPS in the range of $2.73 至 $2.97 and an adjusted effective tax rate of approximately 19%
*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.
股息红利
- The company will pay a cash dividend on its common stock of $0.60 per share on 2023 年3月9日, to shareholders of record as of February 23, 2023.
电话会议和网络直播信息
Littelfuse will host a conference call on 2023年2月2日星期四, 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。
关于 Littelfuse
Littelfuse (NASDAQ: LFUS)是一家工业技术制造公司，致力于为可持续发展、互联互通和更安全的世界提供动力。 凭借覆盖超过15个国家的业务和约19,000名全球员工，我们与客户合作，设计和交付创新、可靠的解决方案。 服务于超过100,000家最终客户，我们的产品每天应用于世界各地的各种工业、运输和电子终端市场。 详情请访问 Littelfuse.com。
根据《1995年私人证券诉讼改革法案》所界定的“安全港”声明
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 2022年1月1日。
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 2022年1月1日, its Quarterly Report on Form 10-Q for the quarter ended 2022年10月1日, 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, 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.
LFUS-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005847/en/
Trisha Tuntland
投资者关系主管
(773) 628-2163
Source: Littelfuse公司
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