Littelfuse, Inc. (NASDAQ:LFUS) Q1 2022 Earnings Conference Call May 4, 2022 10:00 AM ET

Company Participants

Dave Heinzmann – President and Chief Executive Officer

Meenal Sethna – Executive Vice President and Chief Financial Officer

Trisha Tuntland – Head of Investor Relations

Conference Call Participants

Luke Junk – Baird

Nikolay Todorov – Longbow Research

Josh Buchalter – Cowen

David Kelley – Jefferies

Matt Sheerin – Stifel

Operator

Good day everyone, and welcome to the Littelfuse First 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 First 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 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 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.

Dave Heinzmann

Thank you Trisha. Good morning. And thanks for joining us today. Let's start with Slide 4. Building on our noteworthy success in 2021, our global teams delivered tremendous performance, substantially above our expectation to start this year. We achieved record revenues and earnings per share growth as we successfully executed on our strategy and continued to outperform the markets we serve.

Across our electronics, commercial vehicle, and industrial businesses, we attained double-digit organic growth compared to last year. While our passenger car business outperformed global Carville, broad in-market demand continues to remain strong and our team has resiliently managed supply chain disruptions. Our organic growth trajectory combined with our strategy led acquisitions continue to strengthen and diversify our business. As a result of our persistent execution, we remain extremely well-positioned to further capitalize on current and future growth opportunities within the global structural themes of sustainability and activity and safety. That said, we are operating within a more volatile macro environment compared to 90 days ago, given events related to COVID and the war in the Ukraine.