Shares of Littelfuse (LFUS) tumbled 5.84% in pre-market trading on Wednesday following the company's release of its third-quarter earnings report and fourth-quarter guidance. While the electronic component provider posted solid Q3 results, its outlook for the upcoming quarter fell short of analyst expectations, sparking concerns among investors.
Littelfuse reported Q3 revenue of $624.6 million, in line with Wall Street estimates, and an adjusted earnings per share of $2.95, surpassing the expected $2.80. The company's CEO, Greg Henderson, expressed satisfaction with the quarter's performance, noting "strong revenue growth versus the prior year" and earnings that "exceeded the high end of our guidance range."
However, the optimism from Q3 results was overshadowed by a disappointing Q4 forecast. Littelfuse projected fourth-quarter sales between $570 million and $590 million, with the midpoint of $580 million falling below the analyst consensus of $589.7 million. Similarly, the adjusted EPS guidance of $2.40 to $2.60 (midpoint $2.50) came in lower than the Street's expectation of $2.63. This weaker-than-anticipated outlook suggests potential challenges in the company's near-term growth prospects, likely contributing to the sharp decline in stock price.
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