Exhibit 99.1

			FOR IMMEDIATE RELEASE David Kelley 224-727-2535 dkelley@littelfuse.com

LITTELFUSE REPORTS THIRD QUARTER RESULTS FOR 2024

Operational execution drives third quarter earnings above expectations

CHICAGO, October 29, 2024 - Littelfuse, Inc. (NASDAQ: LFUS), a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world, today reported financial results for the third quarter ended September 28, 2024:

•Net sales of $567 million were down 7% versus the prior year period and organically

•GAAP diluted EPS was $2.32 and adjusted diluted EPS was $2.71

•Cash flow from operations was $80 million and free cash flow was $65 million

“In the third quarter, our global teams delivered strong execution and drove sales and earnings above our expectations.” said Dave Heinzmann, Littelfuse President and Chief Executive Officer. “While we see soft end market conditions extending into the fourth quarter, we remain focused on driving operational excellence while serving our global customer base and delivering meaningful new business wins. Our proven growth strategy, diversification efforts and strong technology capabilities position us to deliver top tier long-term stakeholder value.”

Fourth Quarter of 2024*

Based on current market conditions, for the fourth quarter the company expects,

•Net sales in the range of $510 - $540 million, adjusted diluted EPS in the range of $1.90 - $2.10 and an adjusted effective tax rate of approximately 14%

*Littelfuse provides guidance on a non-GAAP (adjusted) basis. GAAP items excluded from guidance may include the after-tax impact of items including acquisition and integration costs, restructuring, impairment and other charges, certain purchase accounting adjustments, non-operating foreign exchange adjustments and significant and unusual items. These items are uncertain, depend on various factors, and could be material to results computed in accordance with GAAP. Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure without unreasonable efforts.

Dividend and Share Repurchase Authorization

•The company will pay a cash dividend on its common stock of $0.70 per share on December 5, 2024, to shareholders of record as of November 21, 2024

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Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, October 30, 2024, at 9:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation is available in the Investor Relations section of the company’s website at Littelfuse.com.

About Littelfuse

Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 16,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation and electronics end markets – everywhere, every day. Learn more at Littelfuse.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

The statements in this press release that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.’s (“Littelfuse” or the “Company”) current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements. This release should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 30, 2023.

Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year ended December 30, 2023, and in other filings and submissions with the SEC, each of which are available free of charge on the company’s investor relations website at investor.littelfuse.com and on the SEC’s website at www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

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Non-GAAP Financial Measures

The information included in this press release includes the non-GAAP financial measures of organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, adjusted effective tax rate, free cash flow, net debt, consolidated EBITDA, and consolidated net leverage ratio (as defined in the credit agreement). Many of these non-GAAP financial measures exclude the effect of certain expenses and income not related directly to the underlying performance of our fundamental business operations. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is set forth in the attached schedules. The company believes that organic net sales (decline) growth, adjusted operating income, adjusted operating margin, adjusted EBITDA, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted income taxes, and adjusted effective tax rate provide useful information to investors regarding its operational performance because they enhance an investor’s overall understanding of our core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of our fundamental business operations or were not part of our business operations during a comparable period. The company believes that free cash flow is a useful measure of its ability to generate cash. The company believes that net debt, consolidated EBITDA, and consolidated net leverage ratio are useful measures of its credit position. The company believes that all of these non-GAAP financial measures are commonly used by financial analysts and others in the industries in which we operate, and thus further provide useful information to investors. Management additionally uses these measures when assessing the performance of the business and for business planning purposes. Note that our definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

LFUS-F

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Littelfuse Inc.
8755 West Higgins Road, Suite 500
Chicago, Illinois 60631
p: (773) 628-1000
www.littelfuse.com

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

						(Unaudited)
(in thousands, except share and per share data)						September 28, 2024						December 30, 2023
ASSETS
Current assets:
Cash and cash equivalents						$	629,670					$	555,513
Short-term investments						1,011						235
Trade receivables, less allowances of $76,151 and $84,696 at September 28, 2024 and December 30, 2023, respectively						338,758						287,018
Inventories						453,781						474,607
Prepaid income taxes and income taxes receivable						6,793						8,701
Prepaid expenses and other current assets						132,510						82,526
Total current assets						1,562,523						1,408,600
Net property, plant, and equipment						481,592						493,153
Intangible assets, net of amortization						560,994						606,136
Goodwill						1,317,748						1,309,998
Investments						26,607						24,821
Deferred income taxes						11,955						10,486
Right of use lease assets						60,277						62,370
Other long-term assets						40,548						79,711
Total assets						$	4,062,244					$	3,995,275
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable						$	179,486					$	173,535
Accrued liabilities						152,772						149,214
Accrued income taxes						39,809						38,725
Current portion of long-term debt						67,799						14,020
Total current liabilities						439,866						375,494
Long-term debt, less current portion						799,949						857,915
Deferred income taxes						95,554						110,820
Accrued post-retirement benefits						31,373						34,422
Non-current lease liabilities						52,074						49,472
Other long-term liabilities						70,328						86,671
Total equity						2,573,100						2,480,481
Total liabilities and equity						$	4,062,244					$	3,995,275

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME

(Unaudited)

						Three Months Ended												Nine Months Ended
(in thousands, except per share data)						September 28, 2024						September 30, 2023						September 28, 2024						September 30, 2023
Net sales						$	567,390					$	607,071					$	1,661,263					$	1,828,850
Cost of sales						351,498						380,200						1,050,559						1,122,190
Gross profit						215,892						226,871						610,704						706,660
Selling, general, and administrative expenses						83,897						87,204						263,395						270,057
Research and development expenses						26,470						25,484						81,283						77,270
Amortization of intangibles						15,864						16,022						47,418						49,773
Restructuring, impairment, and other charges						1,840						4,516						10,329						13,221
Total operating expenses						128,071						133,226						402,425						410,321
Operating income						87,821						93,645						208,279						296,339
Interest expense						9,772						10,101						29,358						29,803
Foreign exchange loss						9,630						11,776						4,273						8,697
Other income, net						(9,297)						(3,527)						(19,916)						(11,810)
Income before income taxes						77,716						75,295						194,564						269,649
Income taxes						19,658						17,507						42,588						53,045
Net income						$	58,058					$	57,788					$	151,976					$	216,604
Earnings per share:
Basic						$	2.34					$	2.32					$	6.12					$	8.72
Diluted						$	2.32					$	2.30					$	6.07					$	8.63
Weighted-average shares and equivalent shares outstanding:
Basic						24,796						24,893						24,822						24,838
Diluted						25,025						25,143						25,040						25,100
Comprehensive income						$	114,451					$	55,654					$	157,011					$	212,842

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

						Nine Months Ended
(in thousands)						September 28, 2024						September 30, 2023
OPERATING ACTIVITIES
Net income						$	151,976					$	216,604
Adjustments to reconcile net income to net cash provided by operating activities:						101,437						137,988
Changes in operating assets and liabilities:
Trade receivables						(50,672)						(21,752)
Inventories						19,865						66,456
Accounts payable						5,460						(38,475)
Accrued liabilities and income taxes						(19,434)						(61,359)
Prepaid expenses and other assets						(1,633)						13,678
Net cash provided by operating activities						206,999						313,140
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired						—						(198,810)
Purchases of property, plant, and equipment						(50,065)						(63,166)
Net proceeds from sale of property, plant and equipment, and other						8,931						597
Net cash used in investing activities						(41,134)						(261,379)
FINANCING ACTIVITIES
Net payments of credit facility						(3,750)						(5,625)
Repurchases of common stock						(40,862)						—
Cash dividends paid						(49,687)						(45,973)
All other cash provided by financing activities						3,000						4,454
Net cash used in financing activities						(91,299)						(47,144)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash						(396)						(7,965)
Increase (decrease) in cash, cash equivalents, and restricted cash						74,170						(3,348)
Cash, cash equivalents, and restricted cash at beginning of period						557,123						564,939
Cash, cash equivalents, and restricted cash at end of period						$	631,293					$	561,591

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LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)

						Third Quarter																		Year-to-Date
(in thousands)						2024						2023												% (Decline) / Growth						2024						2023												% (Decline) / Growth
Net sales
Electronics						$	304,188					$	343,933											(11.6)		%				$	900,932					$	1,052,673											(14.4)		%
Transportation						171,381						177,019												(3.2)		%				510,711						515,708												(1.0)		%
Industrial						91,821						86,119												6.6		%				249,620						260,469												(4.2)		%
Total net sales						$	567,390					$	607,071											(6.5)		%				$	1,661,263					$	1,828,850											(9.2)		%
Operating income
Electronics						$	48,891					$	77,022											(36.5)		%				$	132,859					$	247,028											(46.2)		%
Transportation						23,485						9,694												142.3		%				54,925						26,015												111.1		%
Industrial						17,711						13,201												34.2		%				32,054						45,450												(29.5)		%
Other(a)						(2,266)						(6,272)												N.M.						(11,559)						(22,154)												N.M.
Total operating income						$	87,821					$	93,645											(6.2)		%				$	208,279					$	296,339											(29.7)		%
Operating Margin						15.5		%				15.4		%																12.5		%				16.2		%
Interest expense						9,772						10,101																		29,358						29,803
Foreign exchange loss						9,630						11,776																		4,273						8,697
Other income, net						(9,297)						(3,527)																		(19,916)						(11,810)
Income before income taxes						$	77,716					$	75,295											3.2		%				$	194,564					$	269,649											(27.8)		%

(a) "other" typically includes non-GAAP adjustments such as acquisition-related and integration costs, purchase accounting inventory adjustments and restructuring and impairment charges. (See Supplemental Financial Information for details.)

N.M. - Not meaningful

						Third Quarter																		Year-to-Date
(in thousands)						2024						2023						% (Decline)/Growth						2024						2023						% (Decline)/Growth
Operating Margin
Electronics						16.1		%				22.4		%				(6.3)		%				14.7		%				23.5		%				(8.8)		%
Transportation						13.7		%				5.5		%				8.2		%				10.8		%				5.0		%				5.8		%
Industrial						19.3		%				15.3		%				4.0		%				12.8		%				17.4		%				(4.6)		%

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LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

(In millions of USD except per share amounts - unaudited)

Non-GAAP EPS reconciliation
						Q3-24						Q3-23						YTD-24						YTD-23
GAAP diluted EPS						$	2.32					$	2.30					$	6.07					$	8.63
EPS impact of Non-GAAP adjustments (below)						0.39						0.67						0.37						1.09
Adjusted diluted EPS						$	2.71					$	2.97					$	6.44					$	9.72

Non-GAAP adjustments - (income) / expense
						Q3-24						Q3-23						YTD-24						YTD-23
Acquisition-related and integration costs (a)						$	1.0					$	1.8					$	2.8					$	9.0
Restructuring, impairment and other charges (b)						1.8						4.5						10.3						13.2
Gain on sale of fixed assets (c)						(0.5)						—						(1.5)						—
Non-GAAP adjustments to operating income						2.3						6.3						11.6						22.2
Other income, net (d)						—						—						(0.3)						(0.2)
Non-operating foreign exchange loss						9.6						11.8						4.3						8.7
Non-GAAP adjustments to income before income taxes						11.9						18.1						15.6						30.7
Income taxes (e)						2.1						1.2						6.2						3.2
Non-GAAP adjustments to net income						$	9.8					$	16.9					$	9.4					$	27.5
Total EPS impact						$	0.39					$	0.67					$	0.37					$	1.09

Adjusted operating margin / Adjusted EBITDA reconciliation
						Q3-24						Q3-23						YTD-24						YTD-23
Net income						$	58.1					$	57.8					$	152.0					$	216.6
Add:
Income taxes						19.7						17.5						42.6						53.0
Interest expense						9.8						10.1						29.4						29.8
Foreign exchange loss						9.6						11.8						4.3						8.7
Other income, net						(9.3)						(3.5)						(19.9)						(11.8)
GAAP operating income						$	87.8					$	93.6					$	208.3					$	296.3
Non-GAAP adjustments to operating income						2.3						6.3						11.6						22.2
Adjusted operating income						$	90.1					$	99.9					$	219.9					$	318.5
Amortization of intangibles						15.9						16.0						47.4						49.8
Depreciation expense						17.3						17.9						51.0						53.5
Adjusted EBITDA						$	123.3					$	133.8					$	318.3					$	421.8
Net sales						$	567.4					$	607.1					$	1,661.3					$	1,828.9
Net income as a percentage of net sales						10.2		%				9.5		%				9.1		%				11.8		%
Operating margin						15.5		%				15.4		%				12.5		%				16.2		%
Adjusted operating margin						15.9		%				16.5		%				13.2		%				17.4		%
Adjusted EBITDA margin						21.7		%				22.0		%				19.2		%				23.1		%

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Adjusted EBITDA by Segment						Q3-24																		Q3-23
						Electronics						Transportation						Industrial						Electronics						Transportation						Industrial
GAAP operating income						$	48.9					$	23.5					$	17.7					$	77.0					$	9.7					$	13.2
Add:
Add back amortization						9.9						3.4						2.6						9.8						3.6						2.6
Add back depreciation						10.1						5.7						1.5						9.8						6.6						1.5
Adjusted EBITDA						$	68.9					$	32.6					$	21.8					$	96.6					$	19.9					$	17.3
Adjusted EBITDA Margin						22.6		%				19.0		%				23.8		%				28.1		%				11.2		%				20.1		%

Adjusted EBITDA by Segment						YTD-24																		YTD-23
						Electronics						Transportation						Industrial						Electronics						Transportation						Industrial
GAAP operating income						$	132.9					$	54.9					$	32.1					$	247.0					$	26.0					$	45.5
Add:
Add back amortization						29.6						10.1						7.7						30.1						12.2						7.5
Add back depreciation						30.1						16.7						4.2						29.1						20.4						4.0
Adjusted EBITDA						$	192.5					$	81.8					$	44.0					$	306.2					$	58.6					$	57.0
Adjusted EBITDA Margin						21.4		%				16.0		%				17.6		%				29.1		%				11.4		%				21.9		%

Net sales reconciliation						Q3-24 vs. Q3-23
						Electronics						Transportation						Industrial						Total
Net sales (decline) growth						(12)		%				(3)		%				7		%				(7)		%
Less:
Acquisitions						—		%				—		%				—		%				—		%
FX impact						—		%				—		%				—		%				—		%
Organic net sales (decline) growth						(12)		%				(3)		%				7		%				(7)		%

Net sales reconciliation						YTD-24 vs. YTD-23
						Electronics						Transportation						Industrial						Total
Net sales decline						(14)		%				(1)		%				(4)		%				(9)		%
Less:
Acquisitions						—		%				—		%				—		%				—		%
FX impact						—		%				—		%				—		%				—		%
Organic net sales decline						(14)		%				(1)		%				(4)		%				(9)		%

Income tax reconciliation
						Q3-24						Q3-23						YTD-24						YTD-23
Income taxes						$	19.7					$	17.5					$	42.6					$	53.0
Effective rate						25.3		%				23.3		%				21.9		%				19.7		%
Non-GAAP adjustments - income taxes						2.1						1.2						6.2						3.2
Adjusted income taxes						$	21.8					$	18.7					$	48.8					$	56.2
Adjusted effective rate						24.3		%				20.0		%				23.2		%				18.7		%
Free cash flow reconciliation
						Q3-24						Q3-23						YTD-24						YTD-23
Net cash provided by operating activities						$	80.4					$	161.5					$	207.0					$	313.1
Less: Purchases of property, plant and equipment						(15.4)						(21.7)						(50.1)						(63.2)
Free cash flow						$	65.0					$	139.8					$	156.9					$	250.0

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Consolidated Total Debt						As of September 28, 2024
Consolidated Total Debt						$	867.7
Unamortized debt issuance costs						3.0
Finance lease liability						0.4
Consolidated funded indebtedness						871.1
Cash held in U.S. (up to $400 million)						135.5
Net debt						$	735.6
Consolidated EBITDA						Twelve Months Ended September 28, 2024
Net Income						$	194.8
Interest expense						39.4
Income taxes						58.7
Depreciation						69.1
Amortization						63.4
Non-cash additions:
Stock-based compensation expense						25.2
Purchase accounting inventory step-up charge						—
Unrealized loss on investments						(2.6)
Impairment charges						1.0
Other						(0.2)
Consolidated EBITDA (1)						$	448.8
Consolidated Net Leverage Ratio (as defined in the Credit Agreement) *						1.6x

* Our Credit Agreement and Private Placement Note with maturities ranging from 2024 to 2032, contain financial ratio covenants providing that if, as of the last day of each fiscal quarter, the Consolidated Net Leverage ratio at such time for the then most recently concluded period of four consecutive fiscal quarters of the Company exceeds 3.50:1.00, an Event of Default (as defined in the Credit Agreement and Private Placement Senior Notes) is triggered.

The Credit Agreement and Private Placement Senior Notes were amended in Q2 2022 and now allow for the addition of acquisition and integration costs up to 15% of Consolidated EBITDA and the netting of up to $400M of Available Cash (Cash held by US Subsidiaries).

(1) Represents Consolidated EBITDA as defined in our Credit Agreement and Private Placement Senior Notes and is calculated using the most recently concluded period of four consecutive quarters.

Note: Total will not always foot due to rounding.

(a) reflected in selling, general and administrative expenses ("SG&A").

(b) reflected in restructuring, impairment and other charges.

(c) 2024 amount reflected a gain of $0.5 million ($1.5 million year-to-date) recorded for the sale of a land use right within the Electronics segment and a gain of $1.0 million for the sale of two buildings within the Transportation segment.

(d) 2024 year-to-date also included a reversal of $0.5 million for an asset retirement obligation charge related the disposal of a business in 2019 and $0.2 million increase in coal mining reserves. 2023 amount included $0.2 million gain from the sale of a building within the Electronics segment.

(e) reflected the tax impact associated with the non-GAAP adjustments.

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