A maker of circuit protection and sensing components, Littelfuse produces the fuses, power semiconductors, and switches that keep data centers, vehicles, and power grids running safely. The company was born in 1927 when engineer Edward Sundt, frustrated by test meters burning out during electrical work, invented a small fast-acting fuse and sold his car to fund the business. He wanted to call it "Little Fuse," but was denied the trademark as too generic—so he cleverly misspelled it as "Littelfuse" instead.
Q2 2026 revenue rose 20.4% to $738.8M with gross margin up 3.6pp to 41.4%
Growth accelerated to its fastest pace in over four years. rose 20.4% to $738.8M and improved 3.6 points to 41.4% as Electronics volume and the Basler acquisition drove up 29%. The company refinanced its to 2031, leaving it with extended debt capacity and renewed momentum.
Key takeaways
Consolidated increased 20.4% to $738.8M, including $35.8M from the Basler acquisition and $4.1M in favorable FX, the fourth straight quarter of growth and the largest increase since Q1 2022.
Electronics sales grew 21.1% with up 74.3% due to volume and favorable mix in electronics products and semiconductors.
improved 3.6 points to 41.4%, driven by Electronics and industrial circuit protection, while operating expenses rose from higher incentive costs, Basler integration, and $13.1M in .
Section summaries
Management's Discussion and Analysis
Q2 2026 net sales rose 20.4% to $738.8M, driven by Electronics volume and the Basler acquisition, with operating income up 29%.
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Consolidated increased 20.4% to $738.8M, including $35.8M from the Basler acquisition and $4.1M in favorable FX.
Electronics sales grew 21.1% on higher volume in electronics products and semiconductors, with up 74.3% due to and favorable mix.
Industrial sales rose 52.5%, largely from the Basler acquisition and higher industrial circuit protection volume, with up 45.7%.
Transportation sales edged up 1.7% but fell 8.5% on lower commercial vehicle from cost inflation and unfavorable mix.
reached $226.5M for the first half, up from $148.2M, and the company refinanced its , increasing the to $800M and extending maturity to 2031.
What changed
The customer fuse recall investigation flagged across prior filings drew no accrual or resolution in this 10-Q, remaining open with no reserve.
Basler Electric's contribution to Industrial sales is now visible as the acquisition drove the segment's 52.5% rise, against the ~$130M annualized stated at close.
Q2 2026 Electronics volume confirmed the growth flagged to watch, rising 21.1% and extending the recovery from the 2024 declines.
Tariff and trade policy risks carried from the FY2025 10-K were restated with no material change, so no new exposure was quantified this quarter.
The $5.4M Q1 lapped without a stated hit, as margin still rose 3.6 points to 41.4%.
What to watch
Q3 2026 Electronics volume to confirm the 21.1% growth holds beyond Basler and Dortmund Fab contributions
Q3 2026 Transportation after the 8.5% decline from commercial vehicle cost inflation and mix
Any accrual or resolution from the customer fuse recall investigation in upcoming filings
impact from the $13.1M fixed asset and any new tariff costs on China, Mexico, and Canada
Industrial sales rose 52.5%, largely from the Basler acquisition and higher industrial circuit protection volume; increased 45.7%.
Transportation sales edged up 1.7%, but fell 8.5% due to lower in commercial vehicles from cost inflation and unfavorable mix.
improved 3.6pp to 41.4%, driven by Electronics and industrial circuit protection, while operating expenses rose due to higher incentive costs, Basler integration, and $13.1M in charges.
reached $226.5M for the first half, up from $148.2M, and the company refinanced its , increasing the revolver to $800M and extending maturity to 2031.
Quantitative and Qualitative Disclosures About Market Risk
See Item 7A, "Quantitative and Qualitative Disclosures about Market Risk", of the Company's Annual Report on Form 10-K for the year ended December 27, 2025. During the six months ended June 27, 2026, there were no material changes in the Company's exposure to market risk.
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See Item 7A, "Quantitative and Qualitative Disclosures about Market Risk", of the Company's Annual Report on Form 10-K for the year ended December 27, 2025. During the six months ended June 27, 2026, there were no material changes in the Company's exposure to market risk.
There have been no material changes in the Company's risk factors from those disclosed in the Company's Annual Report on Form 10-K for its year ended December 27, 2025.
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There have been no material changes in the Company's risk factors from those disclosed in the Company's Annual Report on Form 10-K for its year ended December 27, 2025.