Littelfuse, Inc. (NASDAQ:LFUS) Q3 2022 Earnings Conference Call November 2, 2022 10:00 AM ET

Company Participants

Trisha Tuntland - Head of IR

David Heinzmann - President and CEO

Meenal Sethna - EVP and CFO

Conference Call Participants

Matthew Sheerin - Stifel

David Williams - Benchmark

Joshua Buchalter - Cowen

David Kelley - Jefferies

Luke Junk - Baird

David Silver - CL King

David Williams - Benchmark

Operator

Good day everyone ,and welcome to the Littelfuse Third Quarter 2022 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 third quarter 2022 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 third 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 2 for our disclaimers. Our discussion 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 Slide 4, which provides an overview of recent highlights. We delivered strong third quarter results, which were above our expectations. Our outperformance was driven by a faster-than-expected recovery from China COVID shutdowns in the second quarter, and continued growth from global business wins, and progress on our operational initiatives. We achieved revenue growth of 22% and organic growth of 8% despite FX headwinds.

We have created tremendous demand for our broad range of products and expanded our capabilities through acquisitions while continuing to deliver margins and earnings growth above our strategic long-term targets. I'd like to thank our associates around the world for another outstanding quarter. I'm particularly proud of our sustained success, which is an outcome of our highly-skilled people and the market-leading solutions we deliver to customers.