Littelfuse, Inc. (NASDAQ:LFUS) Q3 2024 Earnings Conference Call October 30, 2024 10:00 AM ET

Company Participants

David Kelley - Head of IR
Dave Heinzmann - President, CEO & Director
Meenal Sethna - EVP & CFO

Conference Call Participants

David Williams - Benchmark
Grant Smith - Jefferies
Christopher Glynn - Oppenheimer
Matt Sheerin - Stifel
Luke Junk - Baird

Operator

Good day, everyone, and welcome to the Littelfuse Third Quarter 2024 Earnings Conference Call. Today's call is being recorded.

And at this time, I would like to turn the call over to the Head of Investor Relations, David Kelley. Please proceed.

David Kelley

Good morning, and welcome to the Littelfuse third quarter 2024 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 on 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 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 Form 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, David. Good morning, and thanks for joining us today.

Let's start with highlights on Slide 4. In the third quarter, our performance was ahead of our expectations, with sales at the high-end of our guidance range and earnings exceeding our guidance range. The strength of our third quarter results are a testament to our experienced teams and our strong track record and commitment to execution. We demonstrated the resiliency of our diversified businesses through navigated an ongoing difficult environment with Agility, while driving sequentially higher profitability across our three business segments.

We once again delivered strong free cash flow and our balance sheet remains well-positioned to support our long-term growth strategy. We leveraged our unique technology positioning, while partnering with our global customer base to again generate meaningful new business wins in the quarter. We also continue to benefit from robust designing activity, given our broad exposure to secular themes across our end markets.