05:53 PM EDT, 04/30/2024 (MT Newswires) -- Littelfuse ( LFUS ) reported Q1 adjusted earnings Tuesday of $1.76 per diluted share, down from $3.64 a year earlier.

Analysts surveyed by Capital IQ expected $1.75.

Net sales for the quarter ended March 30 were $535.4 million, down from $609.8 million a year earlier.

Analysts polled by Capital IQ expected $518.8 million.

The company said it expects Q2 adjusted earnings of $1.65 to $1.85 per share on net sales of $525 million to $555 million.

Analysts surveyed by Capital IQ expect EPS of $2.14 on revenue of $541.5 million.

Littelfuse ( LFUS ) maintained a quarterly dividend of $0.65 per share, payable on June 6 to shareholders of record on May 23.

The company said its board approved a new stock repurchase program of up to $300 million that expires April 30, 2027.