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CHICAGO - Littelfuse, Inc. (NASDAQ: LFUS), an industrial technology manufacturer, announced today that Meenal Sethna will step down from her position as Executive Vice President and Chief Financial Officer. Sethna, who has been with the company for ten years, will continue in her role until September 1, 2025, to aid in the transition to a new CFO. The announcement comes as the company's stock trades near its 52-week low of $146.28, having declined about 37% over the past year. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value metrics.
Dr. Greg Henderson, President & CEO of Littelfuse, acknowledged Sethna's significant impact on the company's growth and financial stability. "Meenal's leadership and contributions have been essential to the company's growth and profitability expansion," Henderson stated. He expressed gratitude for her commitment and looks forward to collaborating with her during the transition.
Sethna reflected on her tenure with pride, citing the accomplishments made with her team and expressing her belief in the company's strong position for future growth. She stated, "With Littelfuse well positioned to deliver strong growth and profitability expansion going forward, I believe the time is right for me to transition to the next phase of my career."
The departure of Sethna is not related to any issues with Littelfuse's financials, operations, policies, or practices. The company has initiated a formal search for a new CFO to take the helm.
Littelfuse, with its headquarters in Chicago, operates globally across more than 20 countries with approximately 16,000 associates. The company provides a range of solutions to over 100,000 end customers in various markets, including industrial, transportation, and electronics. This leadership transition is part of the company's ongoing efforts to maintain its financial strength and support its growth objectives. The company has demonstrated consistent shareholder returns, having raised its dividend for 15 consecutive years, with a current yield of 1.87%. Detailed analysis of Littelfuse's financial health, valuation metrics, and growth prospects is available in the comprehensive Pro Research Report on InvestingPro, which covers over 1,400 US equities.
This news is based on a press release statement from Littelfuse, Inc.
In other recent news, Littelfuse Inc. reported its fourth-quarter 2024 earnings with an adjusted diluted EPS of $2.14, missing the forecasted $2.36. Despite this, the company saw its revenue slightly exceed expectations at $530 million compared to the anticipated $523.3 million. The company also reported strong free cash flow generation of $282 million for the year. Littelfuse provided guidance for the first quarter of 2025, projecting sales between $520 million and $550 million and EPS ranging from $1.70 to $1.80. CEO Dave Heintzeman announced his retirement after 40 years, with Greg Henderson set to succeed him. The company anticipates a gradual recovery in the industrial market and expects low single-digit global car builds. Littelfuse continues to focus on electrification technologies, particularly in high-voltage EV applications. Despite the EPS miss, Littelfuse's stock rose in after-hours trading, indicating investor optimism about the company's strategic focus areas.
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