8-K

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: April 28, 2021

(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 April 28, 2021, Littelfuse, Inc. (the “Company”) issued a press release announcing the results of its operations for the quarter ended March 27, 2021. 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.

Item 9.01 Financial Statements and Exhibits.

(d)	Exhibits
	The following exhibit is furnished with this Form 8-K:
	99.1 Press Release, dated April 28, 2021
	99.2 Littelfuse Presentation dated April 28, 2021

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: April 28, 2021	By: /s/ Meenal A. Sethna
	Meenal A. Sethna Executive Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release, dated April 28, 2021
99.2	Littelfuse Presentation dated April 28, 2021
101	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
104	The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

EX-99.1

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 FIRST QUARTER RESULTS FOR 2021

Record sales driven by strong worldwide execution

CHICAGO, April 28, 2021 - Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the first quarter ended March 27, 2021:

•Net sales of $463.8 million were up 34% versus the prior year period, and up 26% organically, due to strong demand across a number of electronics, automotive and industrial end markets

•Growth by segment versus the prior year period:

◦Electronics sales grew 34% (up 32% organically)

◦Automotive sales grew 23% (up 17% organically)

◦Industrial sales grew 80% (up 10% organically)

•GAAP diluted EPS was $2.32; adjusted diluted EPS was $2.67, a growth of 107% and includes $0.54 of benefits related to a non-operating mark-to-market gain and lower effective tax rate compared to the prior year period

•GAAP effective tax rate was 20.6% and the adjusted effective tax rate was 19.2%

•Cash flow from operations was $50.2 million and free cash flow was $35.4 million

“We are off to a strong start this year, delivering double-digit revenue and EPS growth well ahead of expectations,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “Our agile teams around the world continue to navigate through this dynamic market environment while meeting commitments to our customers. Looking ahead, we are seeing healthy demand across a number of our end markets aligned to the strategic, structural growth themes of a sustainable, connected, and safer world. We remain confident we are well-positioned for long-term profitable growth.”

Second Quarter of 2021*

For the second quarter, the company expects net sales in the range of $463 to $477 million, adjusted diluted EPS in the range of $2.12 to $2.28 and an adjusted effective tax rate of approximately 17%.

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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.

Dividend and Share Repurchase Authorization

•The company’s Board of Directors approved a new stock repurchase authorization to replace its previous 2020 program. The company may repurchase up to $300 million in the aggregate of shares of the company’s common stock for the period May 1, 2021 to April 30, 2024.

•The company will pay a cash dividend on its common stock of $0.48 per share on June 3, 2021 to shareholders of record as of May 20, 2021

Conference Call and Webcast Information

Littelfuse will host a conference call today, Wednesday, April 28, 2021, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast live and available for replay at Littelfuse.com. A slide presentation will be 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 12,000 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. These statements may involve risks and uncertainties, including, but 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; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse, Inc.'s ("Littelfuse" or the "Company") 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.

-more-

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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 December 26, 2020. 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 December 26, 2020 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, consolidated total gross debt, consolidated EBITDA (as defined in the private placement senior notes), and ratio of consolidated total gross debt to consolidated EBITDA. 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 consolidated total gross debt, consolidated EBITDA, and ratio of consolidated total gross debt to consolidated EBITDA 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)	March 27, 2021		December 26, 2020
ASSETS
Current assets:
Cash and cash equivalents	$	572,771	$	687,525
Short-term investments	53		54
Trade receivables, less allowances of $42,624 and $45,237 at March 27, 2021 and December 26, 2020, respectively	276,687		232,760
Inventories	295,057		258,002
Prepaid income taxes and income taxes receivable	4,146		3,029
Prepaid expenses and other current assets	43,698		35,939
Total current assets	1,192,412		1,217,309
Net property, plant, and equipment	344,914		344,178
Intangible assets, net of amortization	317,294		291,887
Goodwill	845,586		816,812
Investments	37,285		30,547
Deferred income taxes	9,854		11,224
Right of use lease assets, net	19,560		17,615
Other assets	19,965		18,021
Total assets	$	2,786,870	$	2,747,593
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	179,723	$	145,984
Accrued liabilities	98,354		110,478
Accrued income taxes	23,468		19,186
Current portion of long-term debt	25,000		—
Total current liabilities	326,545		275,648
Long-term debt, less current portion	623,865		687,034
Deferred income taxes	51,229		50,134
Accrued post-retirement benefits	42,894		45,802
Non-current operating lease liabilities	14,190		12,950
Other long-term liabilities	67,410		67,252
Total equity	1,660,737		1,608,773
Total liabilities and equity	$	2,786,870	$	2,747,593

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LITTELFUSE, INC.

CONDENSEDCONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)

	Three Months Ended
(in thousands, except per share data)	March 27, 2021		March 28, 2020
Net sales	$	463,794	$	346,096
Cost of sales	303,328		221,740
Gross profit	160,466		124,356
Selling, general, and administrative expenses	58,288		51,200
Research and development expenses	14,739		14,463
Amortization of intangibles	10,521		9,981
Restructuring, impairment, and other charges	437		3,962
Total operating expenses	83,985		79,606
Operating income	76,481		44,750
Interest expense	4,673		5,418
Foreign exchange loss	6,837		2,584
Other (income) expense, net	(7,737)		1,249
Income before income taxes	72,708		35,499
Income taxes	14,995		10,855
Net income	$	57,713	$	24,644
Earnings per share:
Basic	$	2.35	$	1.01
Diluted	$	2.32	$	1.00
Weighted-average shares and equivalent shares outstanding:
Basic	24,532		24,393
Diluted	24,892		24,578
Comprehensive income	$	52,842	$	9,665

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LITTELFUSE, INC.

CONDENSEDCONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended
(in thousands)	March 27, 2021		March 28, 2020
OPERATING ACTIVITIES
Net income	$	57,713	$	24,644
Adjustments to reconcile net income to net cash provided by operating activities:	32,165		35,626
Changes in operating assets and liabilities:
Trade receivables	(32,973)		(9,457)
Inventories	(6,152)		6,667
Accounts payable	17,070		(3,964)
Accrued liabilities and income taxes	(15,427)		(7,012)
Prepaid expenses and other assets	(2,230)		(1,225)
Net cash provided by operating activities	50,166		45,279
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired	(109,852)		—
Purchases of property, plant, and equipment	(14,721)		(16,586)
Net proceeds from sale of property, plant, and equipment	2,553		50
Net cash used in investing activities	(122,020)		(16,536)
FINANCING ACTIVITIES
Net (payments) proceeds from credit facility	(30,000)		97,500
Purchases of common stock	—		(22,927)
Cash dividends paid	(11,782)		(11,725)
All other cash provided by financing activities	7,509		2,956
Net cash (used in) provided by financing activities	(34,273)		65,804
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(4,101)		(5,111)
(Decrease) increase in cash, cash equivalents, and restricted cash	(110,228)		89,436
Cash, cash equivalents, and restricted cash at beginning of period	687,525		531,139
Cash, cash equivalents, and restricted cash at end of period	$	577,297	$	620,575

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LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)

	First Quarter
(in thousands)	2021			2020			% Growth /(Decline)
Net sales
Electronics	$	286,535		$	214,189		33.8	%
Automotive	128,529			104,770			22.7	%
Industrial	48,730			27,137			79.6	%
Total net sales	$	463,794		$	346,096		34.0	%
Operating income
Electronics	$	55,523		$	32,272		72.0	%
Automotive	20,316			14,116			43.9	%
Industrial	3,506			3,534			(0.8)	%
Other(a)	(2,864)			(5,172)			N.M.
Total operating income	$	76,481		$	44,750		70.9	%
Operating Margin	16.5		%	12.9		%
Interest expense	4,673			5,418
Foreign exchange loss	6,837			2,584
Other (income) expense, net	(7,737)			1,249
Income before income taxes	$	72,708		$	35,499		104.8	%

(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

	First Quarter
(in thousands)	2021		2020		% Growth /(Decline)
Operating Margin
Electronics	19.4	%	15.1	%	4.3	%
Automotive	15.8	%	13.5	%	2.3	%
Industrial	7.2	%	13.0	%	(5.8)	%

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LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

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

Non-GAAP EPS reconciliation
	Q1-21		Q1-20
GAAP diluted EPS	$	2.32	$	1.00
EPS impact of Non-GAAP adjustments (below)	0.35		0.29
Adjusted diluted EPS	$	2.67	$	1.29

Non-GAAP adjustments - (income)/expense
	Q1-21		Q1-20
Acquisition-related and integration costs (a)	$	0.8	$	1.2
Purchase accounting inventory adjustments (b)	3.5		—
Restructuring, impairment and other charges (c)	0.4		4.0
Gain on sale of fixed assets (d)	(1.9)		—
Non-GAAP adjustments to operating income	2.8		5.2
Non-operating foreign exchange loss	6.8		2.6
Non-GAAP adjustments to income before income taxes	9.6		7.8
Income taxes (e)	0.8		0.6
Non-GAAP adjustments to net income	$	8.8	$	7.2
Total EPS impact	$	0.35	$	0.29

Adjusted operating margin / Adjusted EBITDA reconciliation
	Q1-21			Q1-20
Net sales	$	463.8		$	346.1
GAAP operating income	76.5			$	44.8
Add back non-GAAP adjustments	2.8			5.2
Adjusted operating income	$	79.3		$	50.0
Adjusted operating margin	17.1		%	14.4		%
Add back amortization	10.5			10.0
Add back depreciation	13.7			13.8
Adjusted EBITDA	$	103.5		$	73.8
Adjusted EBITDA margin	22.3		%	21.3		%

Net sales reconciliation	Q1-21 vs. Q1-20
	Electronics		Automotive		Industrial		Total
Net sales growth	34	%	23	%	80	%	34	%
Less:
Acquisitions	—		—		62	%	5	%
Transfer a product line between segments	(1)	%	—	%	7	%	—	%
FX impact	3	%	6	%	1	%	3	%
Organic net sales growth	32	%	17	%	10	%	26	%

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Income tax reconciliation
	Q1-21			Q1-20
Income taxes	$	15.0		$	10.9
Effective rate	20.6		%	30.6		%
Non-GAAP adjustments - income taxes	0.8			0.6
Adjusted income taxes	$	15.8		$	11.5
Adjusted effective rate	19.2		%	26.5		%
Free cash flow reconciliation
	Q1-21			Q1-20
Net cash provided by operating activities	$	50.2		$	45.3
Less: Purchases of property, plant and equipment	(14.7)			(16.6)
Free cash flow	$	35.4		$	28.7

Consolidated Total Debt	As of March 27, 2021
Consolidated total gross debt	$	652.8
Unamortized debt issuance costs	(3.9)
Consolidated Total Debt	$	648.9
Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)	Twelve Months Ended March 27, 2021
Net Income	$	163.1
Interest expense	20.3
Income taxes	35.4
Depreciation	56.0
Amortization	40.6
Non-cash additions (reductions):
Stock-based compensation expense	18.5
Purchase accounting inventory step-up charge	3.5
Unrealized gain on investments	(14.9)
Impairment charges	33.8
Other	(6.6)
Consolidated EBITDA (as defined in the Private Placement Senior Notes) (1)	$	349.7
Ratio of Consolidated total gross debt to Consolidated EBITDA (as defined in Private Placement Senior Notes)*	1.9x

* Our Private Placement Senior Notes, with maturities ranging from 2022 to 2030, contain a financial ratio covenant providing that if, as of the last day of each fiscal quarter, the ratio of Consolidated total gross debt at such time to Consolidated EBITDA 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 Private Placement Senior Notes) is triggered

(1) Represents Consolidated EBITDA as defined in our 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) For the fiscal year ended December 26, 2020, the Company presented restructuring, impairment and other charges as a separate caption in the Consolidated Statements of Net Income. Certain amounts in the prior period financial statements have been reclassified to conform to the presentation of the current period financial statements.

(d) reflected in SG&A. 2021 quarter-to-date included a $1.9 million gain from the sale of a building in the Electronics segment.

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

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EX-99.2

1 Q1 2021 EARNINGS RELEASE April 28, 2021

2Littelfuse, Inc. © 2021 DISCLAIMERS Important Information About Interfuse, 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 Interfuse, Inc. and no investment decision should be made based upon the information provided herein. Interfuse strongly urges you to review its filings with the Securities and Exchange Commission, which can be found at investor.littelfuse.com/sec.cfm. This website also provides additional information about Interfuse. “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. These statements may involve risks and uncertainties, including, but 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; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Interfuse, Inc.'s ("Interfuse" or the "Company") 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 December 26, 2020. 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 December 26, 2020, 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 presentation includes the non-GAAP financial measures of organic net sales growth, adjusted operating margin, adjusted diluted earnings per share, 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.

BUSINESS UPDATE Dave Heinzmann, President & CEO

4Littelfuse, Inc. © 2021 Structural Growth Themes Sustainability Connectivity Safety 2021 – 2025 GROWTH STRATEGY EMPOWERING A SUSTAINABLE, CONNECTED, & SAFER WORLD Our Growth Drivers Content & Share Gains Strategic Acquisitions High-Growth Markets & Geographies Outcomes Double-Digit Revenue Growth Best-in-Class Profitability Deliver Top Tier Shareholder Returns

5Littelfuse, Inc. © 2021 Q1-21 KEY THEMES  Strong start this year, building on strength in prior two quarters – Consistent global execution – Leveraging structural growth themes…sustainability, connectivity, safety – Continued strength across number of end markets – Solid management of supply chain challenges  Double-digit Q1 revenue & earnings growth – Achieved record level of revenue – Strong profitability, operating margins in targeted range

6Littelfuse, Inc. © 2021 INDUSTRIAL END MARKETS POSITIONED FOR CONTINUED GROWTH  Enhanced capabilities & growth across HVAC market  Addition of Hartland Controls acquisition  Ongoing strength in renewables, energy storage, power conversion & industrial automation  Expanding technology offerings to create greater value for customers Q1-21 Highlights Q1-21 Key Design Wins  HVAC  Industrial Motor Drives  Industrial Automation

7Littelfuse, Inc. © 2021 TRANSPORTATION END MARKETS EXTENDING OUR LEADERSHIP POSITION Q1-21 Key Design WinsQ1-21 Highlights  xEV & EV Charging Infrastructure  High-End Passenger Cars & SUVs  Telematics, Network & Connectivity  EV Commercial Truck & Bus Platforms  Successful EV design wins  On-board  Off-board charging  Commercial vehicles  Higher content gains for luxury vehicles, SUVs and pick-up trucks  Robust design activity for commercial vehicles

8Littelfuse, Inc. © 2021 ELECTRONICS END MARKETS LEVERAGING OUR LEADERSHIP Q1-21 Highlights Q1-21 Key Design Wins  Battery Protection  Telecom, Data Center & Cloud Infrastructure  Building & Home Automation  Electronification Beyond Consumer Electronics  Leveraging broad global access  Strategic distribution partnerships  Deep OEM relationships  Number of design wins across electronics ecosystem  Ongoing proliferation of electronification  Key business wins across wide spectrum of innovative consumer electronics

FINANCIAL UPDATE Meenal Sethna, EVP & CFO

10Littelfuse, Inc. © 2021 See appendix for GAAP to non-GAAP reconciliation Highlights • Net sales +34% versus prior year, +26% organically • +16% sequentially • GAAP operating margin 16.5%; adjusted operating margin 17.1% • Cash flow from operations $50.2 million & free cash flow $35.4 million • Q1 quarterly cash dividend of $0.48 • New stock buyback authorization: up to $300 million of share repurchases over 3 years GAAP EPS $1.00 $2.32 Adj. EPS $1.29 $2.67 $346.1 $463.8 Q1-20 Q1-21 Revenue & EPS (in millions) Q1-21 FINANCIAL PERFORMANCE

11Littelfuse, Inc. © 2021 $27.1 $48.7 Q1-20 Q1-21 Revenue $104.8 $128.5 Q1-20 Q1-21 Revenue Q1-21 SEGMENT PERFORMANCE Electronics Segment Automotive Segment Industrial Segment  Total revenue +34%, organic +32%  Content growth from electronification & electrification trends (in millions) Op Margin 15.1% 19.4% $214.2 $286.5 Q1-20 Q1-21 Revenue  Total revenue +23%, organic +17%  Content growth from higher end/larger vehicles & electrification trends  Total revenue +80%, organic +10%  Continued weakness in certain end markets; mfg. transfer transition Op Margin 13.5% 15.8% Op Margin 13.0% 7.2% Supply chain challenges & input cost headwinds across all segments See appendix for GAAP to non-GAAP reconciliation

12Littelfuse, Inc. © 2021 Q2-21 GUIDANCE See appendix for GAAP to non-GAAP reconciliation Highlights • Net sales midpoint +53% vs. prior year • Adjusted EPS midpoint +210% vs. prior year • Assumptions • Adjusted effective tax rate of 17% • 25 million diluted shares outstanding Adj. EPS $0.71 $2.12 - $2.28 $307.3 $477 - $463 Q2-20 Q2-21 Revenue & EPS (in millions)

13Littelfuse, Inc. © 2021  Strong performance within dynamic market environment  Demand remains healthy, despite ongoing supply chain & COVID challenges  Delivering growth above market through content gains – Capitalizing on sustainability, connectivity, safety themes – Breadth of portfolio solutions  Well-positioned for continued long-term profitable growth KEY TAKEAWAYS

14Littelfuse, Inc. © 2021 Q&A

15Littelfuse, Inc. © 2021 APPENDIX

16Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION

17Littelfuse, Inc. © 2021 SUPPLEMENTAL FINANCIAL INFORMATION CONT’D

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Document and Entity Information	Apr. 28, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 28, 2021
Entity Registrant Name	LITTELFUSE INC /DE
Entity Central Index Key	0000889331
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity File Number	0-20388
Entity Tax Identification Number	36-3795742
Entity Address, Address Line One	8755 W. Higgins Road
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60631
City Area Code	773
Local Phone Number	628-1000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LFUS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false