Littelfuse, Inc. (NASDAQ:LFUS) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET

Company Participants

Trisha Tuntland - Head of Investor Relations

David Heinzmann - President and Chief Executive Officer

Meenal Sethna - Executive Vice President and Chief Financial Officer

Conference Call Participants

Joshua Buchalter - Cowen

David Williams - Benchmark

Luke Junk - Baird

William Kerwin - Morningstar

David Silver - CL King

Patrick Schackart - Oppenheimer

Operator

Good day, everyone, and welcome to the Littelfuse First Quarter 2023 Earnings Conference Call. Today's call is being recorded.

At this time, I will turn the call over to the Head of Investor Relations, Trisha Tuntland. Please proceed.

Trisha Tuntland

Good morning, and welcome to the Littelfuse first quarter 2023 earnings conference call.

With me today are Dave Heinzmann, President and CEO; and Meenal Sethna, Executive Vice President and CFO. Yesterday, we reported results for our first quarter and a copy of our earnings release and slide presentation is available in the Investor Relations section of our website. A webcast of today's conference call will also be available on our website.

Please advance to slide two for our disclaimers. Our discussions today will include forward-looking statements. These forward-looking statements may involve significant risks and uncertainties. Please review yesterday's press release and our Forms 10-K and 10-Q for more detail about important risks that could cause actual results to differ materially from our expectations. We assume no obligation to update any of this forward-looking information.

Also, our remarks today refer to non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is provided in our earnings release available in the Investor Relations section of our website.

I will now turn the call over to Dave.

David Heinzmann

Thank you, Trisha. Good morning, and thanks for joining us today. Let's start with highlights on slide four. Our global teams delivered strong first quarter results above our sales and adjusted EPS guidance within a tougher electronics environment. The continued resiliency of our business model and the strength of our execution drove strong overall profitability.

During the quarter, we made significant progress integrating our strategy led acquisitions to drive long-term profitable growth and securing meaningful new business wins, then the global structural themes of sustainability, connectivity, and safety. I want to thank our global teams for their persistent commitment and execution to serve our customers.

Moving on to slide five. As announced in February, we continuing to invest for growth with our acquisition of Western Automation Research and Development Limited, a designer and manufacturer of electrical shock protection devices with a heavy focus on electrification. This acquisition accelerates our growth in eMobility off board charging infrastructure, particularly in Europe, with its strong OEM relationships and further expands our capabilities and diversifications in the higher-growth industrial end-markets like industrial safety and renewables. The integration is underway and we look forward to leveraging our combined capabilities to drive growth consistent with our five-year growth strategy shown on slide six.