Littelfuse (LFUS) Tops Q4 EPS by 1c, Revenues Miss; Offers Q1 EPS Guidance Below Consensus, Provides Q1 Revenue Outlook

Littelfuse (NASDAQ: LFUS) reported Q4 EPS of $1.17, $0.01 better than the analyst estimate of $1.16. Revenue for the quarter came in at $338.5 million versus the consensus estimate of $340.76 million.

Fourth Quarter 2019 Results

• Net sales of $338.5 million were down 16% versus the prior year period, and down 14% organically, primarily due to ongoing global trade uncertainties, excess electronics channel inventories and declines in global auto production
• Segment performance versus the prior year period:
  • Electronics sales decreased 21% (down 19% organically)
  • Automotive sales decreased 9% (down 8% organically)
  • Industrial sales increased 7% (up 7% organically)
• GAAP diluted EPS was $0.92; adjusted diluted EPS was $1.17, which included an $0.11 benefit related to a lower effective tax rate versus the forecasted rate, partially offset by a $0.06 currency headwind

“Our global teams remained focused on driving long-term growth, profitability and cash generation within a challenging 2019 macro environment," said Dave Heinzmann, Littelfuse President and Chief Executive Officer. "We actively managed costs to align to business conditions and advanced several strategic initiatives across the end markets we serve. Looking ahead, we remain confident that our leading technologies, global footprint, close customer relationships, and talented associates position our company for profitable growth through the course of 2020.”

GUIDANCE:

Littelfuse sees Q1 2020 EPS of $1.21-$1.35, versus the consensus of $1.41. Littelfuse sees Q1 2020 revenue of $352-364 million, versus the consensus of $356.15 million.

Guidance excludes potential business impacts from the coronavirus beyond the company\'s known specific impacts.

For the first quarter of 2020*, the company expects:

• Net sales in the range of $352 to $364 million
• Adjusted diluted EPS in the range of $1.21 to $1.35
• Adjusted effective tax rate in the range of 18.5% - 19.5%

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

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