Littelfuse reported strong second-quarter 2026 results, with net sales increasing 20% year-over-year to $739 million, driven by 14% organic growth and broad-based demand across its Electronics, Transportation, and Industrial segments. The company also delivered significant improvements in profitability and cash generation while issuing a positive outlook for the third quarter.

Second-quarter highlights included:

  • Net sales of $739 million, up 20% year-over-year
  • Organic sales growth of 14%
  • GAAP operating margin of 16.2%, up 110 basis points
  • Adjusted EBITDA margin of 23.6%, up 220 basis points
  • GAAP diluted earnings per share of $3.49
  • Adjusted diluted earnings per share of $4.19
  • Cash flow from operations of $146 million
  • Free cash flow of $127 million, up 75%
  • Year-to-date operating cash flow of $226 million
  • Year-to-date free cash flow of $193 million, up 68%
  • Quarterly dividend increased 7% to $0.80 per share, equivalent to an annualized dividend of $3.20 per share

President and CEO Greg Henderson said the company’s performance exceeded expectations, supported by broad-based demand strength, disciplined execution, and continued progress on its strategic priorities. He added that Littelfuse remains focused on expanding high-growth opportunities, strengthening customer partnerships, improving operational excellence, and deploying capital strategically.

The Electronics segment recorded the strongest organic growth, with revenue increasing 21%, including 20% organic growth. Passive products grew 26% organically, while semiconductor products increased 15%, driven by higher protection and power semiconductor volumes. Favorable foreign exchange contributed an additional 1% to growth. Adjusted EBITDA margin expanded 470 basis points to 26.3% due to higher volumes, favorable product mix, and operational improvements.

The Transportation segment reported 2% revenue growth, with 1% organic growth and a 1% benefit from foreign exchange. Commercial vehicle sales increased 4%, supported by stronger demand for trucks, construction equipment, and agricultural machinery, while passenger vehicle sales declined 2% due to weaker global vehicle production and lower sensor product sales. Adjusted EBITDA margin declined 190 basis points to 18.6%, reflecting lower commercial vehicle profitability.

The Industrial segment delivered the highest overall growth, with revenue increasing 52%. Organic growth reached 16%, driven by stronger demand from data centers, HVAC systems, industrial automation, and construction markets, while the Basler acquisition contributed an additional 36% to revenue growth. Adjusted EBITDA margin improved 50 basis points to 22.6%, supported by favorable volume leverage and product mix.

Looking ahead, Littelfuse expects continued momentum in the third quarter. The company forecasts net sales of $780 million to $800 million, representing approximately 26% year-over-year growth, with adjusted diluted earnings per share expected between $4.85 and $5.05. Management cited record bookings, continued customer demand, and contributions from the Basler acquisition as key drivers, while highlighting ongoing opportunities in higher-power and higher-energy-density applications.

Original – Littelfuse