Benzinga | Jul 28, 2021 02:48PM EDT

Littelfuse Stock Rises On Q2 Earnings Beat, Guides Q3 Above Consensus, Boosts Dividend By 10%

* Littelfuse, Inc. (NASDAQ:LFUS) reported second-quarter net sales growth of 70.3% year-over-year to $523.49 million and 57% on an organic basis, beating the consensus of $469.83 million.

* Sales by segments: Electronics $325.35 million (+45.7% Y/Y), Automotive $133.32 million (+115% Y/Y), and Industrial $64.82 million (+193.8% Y/Y).

* Adjusted EPS improved to $3.41 from $0.71 in 2Q20, beating consensus estimates of $2.24.

* The gross margin expanded by 520 bps to 37.7%.

* Adjusted operating margin expanded by about 1,175 bps to 19.5%.

* Adjusted EBITDA was $126.1 million, compared to $47.54 million in 2Q20, and margin expanded by 870 bps to 24.1%.

* Littelfuse reported cash flow from operations of $76.2 million and free cash flow of $58.2 million for the quarter.

* The company's Board approved a 10% increase in the quarterly cash dividend from $0.48 to $0.53 per share on its common stock, payable on September 2, 2021, to shareholders of record as of August 19, 2021.

* Q3 Outlook: The company expects net sales of $510 million - $524 million, versus the consensus of $468.72 million.

* It sees the adjusted EPS of $3.07 - $3.23 versus the consensus of $2.28.

* Price action: LFUS shares are trading higher by 6.43% at $260.92 on the last check Wednesday.