Strong Revenue Growth
First quarter revenue was $554 million, up 4% year-over-year and 3% organically, surpassing the high end of guidance. Sales to Elmos Semiconductor contributed 2% to growth.
Positive Book-to-Bill Ratio
Improved book-to-bill ratio across all businesses, with total Littelfuse book-to-bill tracking above 1, indicating strong demand and customer positioning.
Industrial Segment Performance
Industrial Products segment experienced 16% organic sales growth, driven by strong renewables, data center, and HVAC growth, with operating margins up 880 basis points.
Improved Operating Margins
Adjusted operating margins increased by 320 basis points year-over-year to 14.2%, and adjusted EBITDA margins were 20.1%.
Strong Cash Generation
Operating cash flow was $66 million, with free cash flow of $43 million, driving a free cash conversion rate of 98%.
Strategic Focus on Acquisitions
Company plans to continue prioritizing strategic acquisitions for growth, with a focus on leveraging strong global teams and insights into technology evolutions.