Littelfuse (NASDAQ: LFUS) reported Q4 EPS of $2.23, $0.67 better than the analyst estimate of $1.56. Revenue for the quarter came in at $400.7 million versus the consensus estimate of $372.86 million.

Fourth Quarter 2020 Results

• Net sales of $400.7 million were up 18% versus the prior year period, and up 16% organically, led by higher than expected demand across a number of automotive, electronics and industrial end markets
• Segment performance versus the prior year period:
  • Electronics sales grew 17% (up 16% organically)
  • Automotive sales grew 22% (up 18% organically)
  • Industrial sales grew 13% (up 5% organically)
• GAAP diluted EPS was $2.39; adjusted diluted EPS was $2.23, which benefited from a lower effective tax rate versus the forecasted rate equating to approximately $0.14 in EPS
• GAAP effective tax rate was 14.4% and the adjusted effective tax rate was 15.3%
• On January 28, the company completed the acquisition of Hartland Controls, a manufacturer and leading supplier of electrical components used primarily in HVAC and other industrial applications, with annualized sales of approximately $70 million

“We finished the year with our fourth quarter well ahead of expectations, with double-digit sales growth across all of our segments,” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “While 2020 was a challenging year, we continued to meet our customer commitments while advancing our strategic growth initiatives. Building on this momentum, we are seeing a strong start to 2021, which positions us for long-term growth and improved profitability.”

GUIDANCE:

Littelfuse sees Q1 2021 EPS of $1.76-$1.92, versus the consensus of $1.72. Littelfuse sees Q1 2021 revenue of $418-432 million, versus the consensus of $385.55 million.

For earnings history and earnings-related data on Littelfuse (LFUS) click here.