EX-99.1 2 q32026earningsreleaseex991.htm EX-99.1

Exhibit 99.1

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

Littelfuse Reports Third Quarter Results for 2026

Third Quarter Highlights:

(Year-over-year comparisons unless otherwise noted)

•Record net sales of $767 million, including a reduction of $28.5 million related to a one-time Dortmund contract amendment fee recorded as a reduction of semiconductor net sales

•Organic growth contributed +22%

•Cash flow from operations of $230 million, +57%; Free cash flow of $216 million, +64%

•YTD cash flow from operations of $457 million, +55%; YTD free cash flow of $409 million, +66%

•GAAP diluted earnings per share of $4.49, +62%

•Record adjusted diluted earnings per share of $5.79, +96%

•GAAP operating margin of 20.0%, +440 bps; Adjusted EBITDA margin of 28.4%, +690 bps

CHICAGO, October 28, 2026 - Littelfuse, Inc. (NASDAQ: LFUS), a leader in developing smart solutions that enable safe and efficient electrical energy transfer, today reported financial results for its third quarter ended September 26, 2026:

“We delivered strong third quarter results reflecting broad-based demand strength, disciplined execution, and

continued momentum across the portfolio,” said Greg Henderson, Littelfuse President and Chief Executive Officer.

“Our teams drove significant growth across our segments, while delivering meaningful margin expansion and robust

cash generation as we continued to advance our strategic priorities.”

“Looking ahead to the fourth quarter, we continue to see strong demand across our diverse market exposures, and

we expect approximately +28% yr/yr revenue growth. We remain focused on scaling our high growth opportunities,

partnering with our market leading customers, enhancing operational excellence, and deploying capital with

discipline as we execute our long-term strategy.”

Fourth Quarter of 2026*

Based on current market conditions, for the fourth quarter the Company expects:

•Net sales in the range of $750 - $770 million, adjusted diluted EPS in the range of $5.05 - $5.25 and an adjusted effective tax rate of approximately ~24%

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*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. Accordingly,

Littelfuse is not able to forecast the excluded items in order to provide the most directly comparable GAAP financial measure

without unreasonable efforts.

Third Quarter 2026 Segment Performance Highlights

Electronics Segment

•Net sales for the third quarter 2026 increased to $426 million, including the previously disclosed $28.5

million (€24.6 million) one-time Dortmund contract amendment fee recorded as a reduction of

semiconductor net sales. Organic sales increased +27% driven by improved passive products (+30%

organic). Semiconductor products (+24% organic) also contributed to growth driven by increased protection

and power semiconductor volumes.

•Adjusted EBITDA margin for the third quarter 2026 increased to 33.1% (+910 bps) due to volume leverage,

operational execution, and favorable price and product mix.

Transportation Segment

•Net sales for the third quarter 2026 increased +7%, both reported and organic, to $183 million. Organic

sales growth benefited from improved commercial vehicle sales (+20% organic), which offset lower

passenger vehicle organic sales (-5%). Commercial vehicle sales growth benefited from improved truck,

data center, material handling, construction and agricultural equipment demand. Lower passenger vehicle

sales were impacted by lower global passenger car builds and auto sensor product declines.

•Adjusted EBITDA margin for the third quarter 2026 increased to 19.6% (+280 bps) driven by commercial

vehicle volume leverage and operational execution.

Industrial Segment

•Net sales for the third quarter 2026 increased +65% to $158 million. Organic sales increased +27% driven

by improved data center, grid & utility infrastructure, HVAC, industrial automation, and construction

demand. The Basler Electric Company (“Basler”) acquisition contributed +38% to growth.

•Adjusted EBITDA margin for the third quarter 2026 increased to 25.2% (+450 bps) driven by improved

volume leverage, operational efficiencies, and favorable price and product mix.

Dividend

•The Company announced a quarterly cash dividend of $0.80 per share on its common stock. The dividend will be paid on December 3, 2026, to shareholders of record as of November 19, 2026.

Conference Call and Webcast Information

Littelfuse will host a conference call on Wednesday, October 28, 2026, at 8:00 a.m. Central Time to discuss the results. The call will be broadcast and available for replay at Littelfuse.com. A slide presentation will be available in the Investor Relations section of the Company’s website at Littelfuse.com.

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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 18,000 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, uncertainties and other factors 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; changes in import and export duty and tariff rates; exchange rate fluctuations; commodity price fluctuations; the effect of the Company's accounting policies; labor disputes and shortages; restructuring costs in excess of expectations; pension plan asset returns less than assumed; uncertainties related to political or regulatory changes; integration of acquisitions may not be achieved in a timely manner, or at all; limited realization of the expected benefits from investment and strategic plans; the risk that expected benefits, synergies and growth prospects of our acquisitions may not be achieved in a timely manner, or at all; and other risks which may be detailed in the Company’s SEC 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 presentation 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 fiscal year ended December 27, 2025. 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 fiscal year ended December 27, 2025, and in other filings and submissions with the SEC, each of which is 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 and other materials filed with the SEC may include non-GAAP financial measures including organic net sales (decline) growth, adjusted net sales, 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 net sales, 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 the Company’s core financial performance and facilitate comparisons to historical results of operations, by excluding items that are not related directly to the underlying performance of its fundamental business operations or were not part of the Company’s 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 the Company’s 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. 6133 North River Road, Suite 500 Rosemont, Illinois 60018 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 26, 2026						December 27, 2025
ASSETS
Current assets:
Cash and cash equivalents						$	824,840					$	563,391
Short-term investments						359						287
Trade receivables, less allowances of $95,619 and $77,073 at September 26, 2026 and December 27, 2025, respectively						438,145						363,215
Inventories						443,990						416,472
Prepaid income taxes and income taxes receivable						3,238						6,137
Prepaid expenses and other current assets						102,077						85,832
Total current assets						1,812,649						1,435,334
Net property, plant, and equipment						507,749						540,640
Intangible assets, net of amortization						538,141						594,907
Goodwill						1,204,660						1,211,411
Investments						11,815						20,010
Deferred income taxes						3,800						5,255
Right of use lease assets						85,276						86,263
Other long-term assets						61,492						62,976
Total assets						$	4,225,582					$	3,956,796
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable						$	260,080					$	211,079
Accrued liabilities						271,608						199,271
Accrued income taxes						48,108						26,186
Current portion of long-term debt						100,000						96,233
Total current liabilities						679,796						532,769
Long-term debt, less current portion						529,934						706,394
Deferred income taxes						103,106						102,335
Accrued post-retirement benefits						40,713						38,733
Non-current lease liabilities						72,068						71,765
Other long-term liabilities						75,782						78,766
Total equity						2,724,183						2,426,034
Total liabilities and equity						$	4,225,582					$	3,956,796

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

						Three Months Ended												Nine Months Ended
(in thousands, except per share data)						September 26, 2026						September 27, 2025						September 26, 2026						September 27, 2025
Net sales						$	766,729					$	624,640					$	2,162,479					$	1,792,360
Cost of sales						448,173						383,652						1,283,710						1,112,062
Gross profit						318,556						240,988						878,769						680,298
Selling, general, and administrative expenses						114,608						99,570						334,511						282,795
Research and development expenses						29,722						27,332						90,496						79,781
Amortization of intangibles						14,648						15,037						45,852						44,220
Restructuring, impairment, and other charges						6,222						1,633						33,665						13,158
Total operating expenses						165,200						143,572						504,524						419,954
Operating income						153,356						97,416						374,245						260,344
Interest expense						5,689						8,578						18,405						26,021
Foreign exchange loss (gain)						1,697						175						(876)						15,466
Other income, net						(4,244)						(6,053)						(7,293)						(14,020)
Income before income taxes						150,214						94,716						364,009						232,877
Income taxes						34,837						25,194						84,080						62,442
Net income						$	115,377					$	69,522					$	279,929					$	170,435
Earnings per share:
Basic						$	4.54					$	2.80					$	11.08					$	6.88
Diluted						$	4.49					$	2.77					$	10.94					$	6.82
Weighted-average shares and equivalent shares outstanding:
Basic						25,401						24,837						25,260						24,786
Diluted						25,674						25,102						25,583						24,989
Comprehensive income						$	117,736					$	65,985					$	257,408					$	302,408

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LITTELFUSE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

						Nine Months Ended
(in thousands)						September 26, 2026						September 27, 2025
OPERATING ACTIVITIES
Net income						$	279,929					$	170,435
Adjustments to reconcile net income to net cash provided by operating activities:						144,825						131,627
Changes in operating assets and liabilities:
Trade receivables						(77,483)						(64,552)
Inventories						(30,711)						33,567
Accounts payable						46,876						12,757
Accrued liabilities and income taxes						98,090						611
Prepaid expenses and other assets						(4,893)						10,654
Net cash provided by operating activities						456,633						295,099
INVESTING ACTIVITIES
Acquisitions of businesses, net of cash acquired						(1,663)						(57,417)
Purchases of property, plant, and equipment						(47,474)						(48,697)
Net proceeds from sale of property, plant and equipment, and other						9,224						6,413
Net cash used in investing activities						(39,913)						(99,701)
FINANCING ACTIVITIES
Net payments of credit facility						(166,250)						(61,250)
Repurchases of common stock						—						(27,553)
Cash dividends paid						(58,193)						(53,311)
All other cash provided by financing activities						72,071						15,840
Net cash used in financing activities						(152,372)						(126,274)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash						(2,959)						20,868
Increase in cash, cash equivalents, and restricted cash						261,389						89,992
Cash, cash equivalents, and restricted cash at beginning of period						565,104						726,437
Cash, cash equivalents, and restricted cash at end of period						$	826,493					$	816,429

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LITTELFUSE, INC.

NET SALES AND OPERATING INCOME BY SEGMENT

(Unaudited)

						Third Quarter																		Year-to-Date
(in thousands)						2026						2025												% Growth						2026						2025												% Growth
Net sales
Electronics						$	426,239					$	357,457											19.2		%				$	1,195,434					$	1,000,372											19.5		%
Transportation						182,643						171,311												6.6		%				535,435						512,573												4.5		%
Industrial						157,847						95,872												64.6		%				431,610						279,415												54.5		%
Total net sales						$	766,729					$	624,640											22.7		%				$	2,162,479					$	1,792,360											20.6		%
Operating income
Electronics						$	102,350					$	63,640											60.8		%				$	259,545					$	160,267											61.9		%
Transportation						27,330						20,187												35.4		%				77,124						67,178												14.8		%
Industrial						33,345						16,918												97.1		%				81,580						48,855												67.0		%
Other (a)						(9,669)						(3,329)												N.M.						(44,004)						(15,956)												N.M.
Total operating income						$	153,356					$	97,416											57.4		%				$	374,245					$	260,344											43.8		%
Operating Margin						20.0		%				15.6		%																17.3		%				14.5		%
Interest expense						5,689						8,578																		18,405						26,021
Foreign exchange loss (gain)						1,697						175																		(876)						15,466
Other income, net						(4,244)						(6,053)																		(7,293)						(14,020)
Income before income taxes						$	150,214					$	94,716											58.6		%				$	364,009					$	232,877											56.3		%

(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)						2026						2025						% Growth						2026						2025						% Growth
Operating Margin
Electronics						24.0		%				17.8		%				6.2		%				21.7		%				16.0		%				5.7		%
Transportation						15.0		%				11.8		%				3.2		%				14.4		%				13.1		%				1.3		%
Industrial						21.1		%				17.6		%				3.5		%				18.9		%				17.5		%				1.4		%

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LITTELFUSE, INC.

SUPPLEMENTAL FINANCIAL INFORMATION

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

Non-GAAP EPS reconciliation
						Q3-26						Q3-25						YTD-26						YTD-25
GAAP diluted EPS						$	4.49					$	2.77					$	10.94					$	6.82
EPS impact of Non-GAAP adjustments (below)						1.30						0.18						2.35						1.17
Adjusted diluted EPS						$	5.79					$	2.95					$	13.29					$	7.99

Non-GAAP adjustments - expense / (income)
						Q3-26						Q3-25						YTD-26						YTD-25
One-time customer contract amendment fee (a) ("One-time amendment fee")						$	28.5					$	—					$	28.5					$	—
Acquisition-related and integration costs (b)						3.5						1.4						5.0						3.0
Purchase accounting inventory adjustments (c)						—						—						5.4						(0.5)
Restructuring, impairment and other charges (d)						6.2						1.6						33.6						13.2
Loss on sale of the Marine business (e)						—						0.3						—						0.3
Non-GAAP adjustments to operating income						38.2						3.3						72.5						16.0
Other income, net (f)						—						—						2.7						—
Non-operating foreign exchange loss (gain)						1.7						0.2						(0.9)						15.5
Non-GAAP adjustments to income before income taxes						39.9						3.5						74.3						31.5
Income taxes (g)						6.6						(1.0)						14.2						2.2
Non-GAAP adjustments to net income						$	33.3					$	4.5					$	60.1					$	29.3
Total EPS impact						$	1.30					$	0.18					$	2.35					$	1.17

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Adjusted operating margin / Adjusted EBITDA reconciliation
						Q3-26						Q3-25						YTD-26						YTD-25
Net income						$	115.4					$	69.5					$	279.9					$	170.4
Add:
Income taxes						34.8						25.2						84.1						62.4
Interest expense						5.7						8.6						18.4						26.0
Foreign exchange loss (gain)						1.7						0.2						(0.9)						15.5
Other income, net						(4.2)						(6.1)						(7.3)						(14.0)
GAAP operating income						$	153.4					$	97.4					$	374.2					$	260.3
Non-GAAP adjustments to operating income						38.2						3.3						72.5						16.0
Adjusted operating income						$	191.5					$	100.7					$	446.7					$	276.3
Amortization of intangibles						14.6						15.0						45.9						44.2
Depreciation expense						19.8						18.6						58.6						56.4
Adjusted EBITDA						$	225.9					$	134.3					$	551.2					$	376.9
Net sales						$	766.7					$	624.6					$	2,162.5					$	1,792.4
One-time amendment fee						28.5						—						28.5						—
Adjusted net sales						$	795.2					$	624.6					$	2,191.0					$	1,792.4
Net income as a percentage of net sales						15.1		%				11.1		%				12.9		%				9.5		%
Operating margin						20.0		%				15.6		%				17.3		%				14.5		%
Adjusted operating margin (1)						24.1		%				16.1		%				20.4		%				15.4		%
Adjusted EBITDA margin (1)						28.4		%				21.5		%				25.2		%				21.0		%

(1) Adjusted operating margin and adjusted EBITDA margin are calculated based on the adjusted net sales amount that removes the one-time customer contract amendment fee of $28.5 million to improve comparability in these margins with prior period financial results.

Electronics segment adjusted net sales reconciliation						Q3-26
						Electronics - Passive Products and Sensors						Electronics - Semiconductor						Total Electronics
Net sales						$	238.8					$	187.4					$	426.2
Add:
One-time amendment fee						—						28.5						28.5
Adjusted net sales						$	238.8					$	215.9					$	454.7
						YTD-26
						Electronics - Passive Products and Sensors						Electronics - Semiconductor						Total Electronics
Net sales						$	639.3					$	556.1					$	1,195.4
Add:
One-time amendment fee						—						28.5						28.5
Adjusted net sales						$	639.3					$	584.6					$	1,223.9

Electronics segment adjusted operating income reconciliation						Q3-26						YTD-26
GAAP operating income						$	102.4					$	259.5
Add:
One-time amendment fee						28.5						28.5
Adjusted operating income						$	130.9					$	288.0

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Adjusted EBITDA by Segment						Q3-26																		Q3-25
						Electronics						Transportation						Industrial						Electronics						Transportation						Industrial
GAAP operating income						$	102.4					$	27.3					$	33.3					$	63.6					$	20.2					$	16.9
Add:
One-time amendment fee						28.5						—						—						—						—						—
Add back amortization						7.6						2.7						4.3						10.2						3.4						1.4
Add back depreciation						12.0						5.6						2.2						12.0						5.1						1.5
Adjusted EBITDA						$	150.5					$	35.6					$	39.8					$	85.8					$	28.7					$	19.8
Adjusted EBITDA Margin (1)						33.1		%				19.6		%				25.2		%				24.0		%				16.8		%				20.7		%
Adjusted Operating Margin (1)						28.8		%

Adjusted EBITDA by Segment						YTD-26																		YTD-25
						Electronics						Transportation						Industrial						Electronics						Transportation						Industrial
GAAP operating income						$	259.5					$	77.1					$	81.6					$	160.3					$	67.2					$	48.9
Add:
One-time amendment fee						28.5						—						—						—						—						—
Add back amortization						24.3						8.9						12.7						30.1						10.2						3.9
Add back depreciation						35.9						16.2						6.5						35.9						15.9						4.6
Adjusted EBITDA						$	348.2					$	102.2					$	100.8					$	226.3					$	93.3					$	57.3
Adjusted EBITDA Margin (1)						28.5		%				19.1		%				23.4		%				22.6		%				18.2		%				20.5		%
Adjusted Operating Margin (1)						23.5		%

Net sales reconciliation						Q3-26 vs. Q3-25
						Electronics						Transportation						Industrial						Total
Net sales growth						19		%				7		%				65		%				23		%
Less:
One-time amendment fee						(8)		%				—		%				—		%				(5)		%
Acquisitions						—		%				—		%				38		%				6		%
FX impact						—		%				—		%				—		%				—		%
Organic net sales growth						27		%				7		%				27		%				22		%

Electronics segment net sales reconciliation						Q3-26 vs. Q3-25
						Electronics - Passive Products and Sensors						Electronics - Semiconductor						Total Electronics
Net sales growth						30		%				8		%				19		%
Less:
One-time amendment fee						—		%				(16)		%				(8)		%
FX impact						—		%				—		%				—		%
Organic net sales growth						30		%				24		%				27		%

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Transportation segment net sales reconciliation						Q3-26 vs. Q3-25
						Commercial Vehicle Products						Passenger Car Products (2)						Auto Sensor Products (2)						Total Transportation
Net sales growth (decline)						20		%				(3)		%				(14)		%				7		%
Less:
FX impact						—		%				—		%				(1)		%				—		%
Organic net sales growth (decline)						20		%				(3)		%				(13)		%				7		%

Net sales reconciliation						YTD-26 vs. YTD-25
						Electronics						Transportation						Industrial						Total
Net sales growth						19		%				4		%				54		%				21		%
Less:
One-time amendment fee						(3)		%				—		%				—		%				(1)		%
Acquisitions						—		%				—		%				37		%				6		%
FX impact						1		%				1		%				—		%				1		%
Organic net sales growth						21		%				3		%				17		%				15		%

Electronics segment net sales reconciliation						YTD-26 vs. YTD-25
						Electronics - Passive Products and Sensors						Electronics - Semiconductor						Total Electronics
Net sales growth						28		%				11		%				19		%
Less:
One-time amendment fee						—		%				(6)		%				(3)		%
FX impact						2		%				1		%				1		%
Organic net sales growth						26		%				16		%				21		%

Transportation segment net sales reconciliation						YTD-26 vs. YTD-25
						Commercial Vehicle Products						Passenger Car Products (2)						Auto Sensor Products (2)						Total Transportation
Net sales growth (decline)						9		%				2		%				(8)		%				4		%
Less:
FX impact						1		%				1		%				3		%				1		%
Organic net sales growth (decline)						8		%				1		%				(11)		%				3		%

(2) Passenger vehicle business (PVB) includes passenger car and auto sensor products.

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Income tax reconciliation
						Q3-26						Q3-25						YTD-26						YTD-25
Income taxes						$	34.8					$	25.2					$	84.1					$	62.4
Effective rate						23.2		%				26.6		%				23.1		%				26.8		%
Non-GAAP adjustments - income taxes						6.6						(1.0)						14.2						2.2
Adjusted income taxes						$	41.4					$	24.2					$	98.3					$	64.6
Adjusted effective rate						21.8		%				24.6		%				22.4		%				24.5		%
Free cash flow reconciliation
						Q3-26						Q3-25						YTD-26						YTD-25
Net cash provided by operating activities						$	230.1					$	146.9					$	456.6					$	295.1
Less: Purchases of property, plant, and equipment						(14.5)						(15.7)						(47.5)						(48.7)
Free cash flow						$	215.7					$	131.2					$	409.2					$	246.4

Consolidated Total Debt						As of September 26, 2026
Consolidated total debt						$	629.9
Unamortized debt issuance costs						3.1
Finance lease liability						0.1
Consolidated funded indebtedness						633.1
Cash held in U.S. (up to $400 million)						195.8
Net debt						$	437.3
Consolidated EBITDA						Twelve Months Ended September 26, 2026
Net Income						$	37.7
Interest expense						26.7
Income taxes						96.9
Depreciation expense						77.1
Amortization expense						61.4
Non-cash additions:
Stock-based compensation expense						29.0
Purchase accounting inventory step-up charge						6.4
Unrealized loss on investments						1.7
Impairment charges						316.6
Other						18.0
Consolidated EBITDA (1)						$	671.5
Consolidated Net Leverage Ratio (as defined in the Credit Agreement) *						0.7x

* Our Credit Agreement and Private Placement Senior Notes with maturities ranging from 2027 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 was amended in Q1 2026 and now allows to add restructuring charges and business optimization expenses in addition to the prior credit agreement.

(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.

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(a) Reflected as a reduction in net sales of $28.5 million for a one-time customer contract amendment fee in the Electronics-Semiconductor business. The Amendment is intended to further support the Company’s semiconductor strategy by enhancing strategic flexibility, accelerating and simplifying certain legacy contractual arrangements and increasing the Company’s ability to optimize the Dortmund Semiconductor GmbH asset over time.

(b) Reflected in selling, general and administrative expenses.

(c) Reflected in cost of sales.

(d) Reflected in restructuring, impairment and other charges.

(e) 2025 amount reflected $0.3 million loss related to the sale of the Marine business within the Transportation segment.

(f) 2026 included the reversal of an indemnification receivable of $2.7 million related to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026.

(g) Reflected the tax impact associated with the non-GAAP adjustments including a one-time tax benefit of $3.3 million associated with the dissolution of one of the Company's affiliates in the third quarter of 2026 and $2.7 million of tax benefits due to lapses in the statute of limitations for previously unrecognized tax benefits recognized in the first quarter of 2026.

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