Littelfuse Reports 3.5% Net Sales Increase to $554.3 Million in Q1 2025

Littelfuse, Inc. reported a net sales increase of 3.5% for the first quarter of 2025, reaching $554.3 million compared to $535.4 million in the same period last year. The growth was bolstered by $10.2 million in incremental sales from the recently acquired Dortmund Fab, which contributed to the Electronics segment, and a $6.6 million negative impact from foreign exchange rates. The company’s net income for the quarter was $43.6 million, or $1.75 per diluted share, down from $48.5 million, or $1.93 per diluted share, in the prior year, primarily due to a higher effective tax rate and foreign exchange losses.

In terms of operational performance, Littelfuse's gross profit increased by 10.4% to $207.3 million, driven by improved margins in the Electronics and Industrial segments. Operating income rose significantly by 27.7% to $70.2 million, reflecting higher sales volumes and effective cost management strategies. The company recorded total operating expenses of $137.1 million, which included $8.9 million in restructuring charges related to employee terminations and other costs associated with the reorganization of its semiconductor business.

The company’s acquisition of the Dortmund Fab, completed on December 31, 2024, for approximately €94 million, has been a significant strategic development. This facility enhances Littelfuse's capabilities in semiconductor manufacturing and is expected to drive future growth. The acquisition was funded with cash on hand, and the company reported $10.2 million in sales from this facility in the first quarter of 2025. The integration of Dortmund Fab is anticipated to yield synergies with Littelfuse's existing semiconductor product lines.

Geographically, net sales in the Americas increased by 4.6% to $224.7 million, while sales in the Asia-Pacific region rose by 6.0% to $205.3 million. However, sales in Europe decreased by 2.0% to $124.3 million, impacted by unfavorable foreign exchange rates. The company continues to serve over 100,000 end customers across various sectors, including industrial, transportation, and electronics, with a workforce of approximately 16,000 employees globally.

Looking ahead, Littelfuse remains focused on leveraging its recent acquisition and enhancing operational efficiencies to drive growth. The company anticipates that its strategic initiatives, including investments in product development and geographic expansion, will position it well to navigate market challenges and capitalize on emerging opportunities. The management expressed confidence in maintaining strong cash flows to support ongoing operations and capital expenditures, despite the recent decline in cash and cash equivalents to $618.7 million as of March 29, 2025.