Littelfuse, Inc.

recorded. It is now my pleasure to turn it over to the Head of Investor Relations, David Kelly. You may begin.

Good morning, and welcome to the LSU's first quarter 2025 earnings conference call. With me today are Greg Henderson, President and CEO, and Minal Stefano. please advance to slide two for our disclaimers. Our discussions today will include forward-looking statements. These forward-looking statements may involve significant risks and uncertainties. Please review yesterday's press release and our forms 10-K and 10-Q for more detail about important risks that could cause actual results to differ materially from our expectations. We assume no obligation to update any of this forward-looking information. Also, our remarks today refer to non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is provided in our earnings release available in the investor relations section of our website. I will now turn the call over to Greg.

Thank you, David, and thank you to everyone for joining us this morning. It's a pleasure to speak with all of you today. My first earnings call as CEO of Little Fuse. For those of you who are new to Little Fuse, I joined our board two years ago and previously spent 10 years in analog devices where I have the responsibility for the automotive and energy, communications, and aerospace businesses. Since taking on my current role in February, I've been getting to know our global teams on a deeper level. I've also spent time connecting with and listening to many of our customers, suppliers, and partners. I joined with a few excited about our capabilities, and three months into the role, I am deeply energized by the opportunity ahead. With that, I wanted to start by sharing three key observations. One, we are leaders in developing smart solutions that enable safe and efficient electrical energy transfer. Our customers deeply value our capabilities, and our market leadership is a significant asset. Because of this, we have built great brand equity across our products, offering broad multi-technology capabilities for our customers. As our end markets are moving to higher power and higher energy densities, our customers are facing increasingly complex safety and efficiency challenges. As a result of this trend, our trusted and essential technologies are more frequently part of our customers' architectures. Let me provide you two examples of the role we play in our customer solutions. First, in the rapidly growing grid storage market, we are a key supplier from the rapid container levels to the power conversion systems sent through the grid. With increasing power demands and the simultaneous push to lower operating costs, Grid storage systems require an increasingly sophisticated and thoughtful circuit protection strategy. We are a leader in high-speed fuses that are essential to enabling hardware to trade. We are also a key provider of arc flash and ground fault protection within the cabinet and power conversion systems that reduce the risk of catastrophic failure. Finally, our sensor and switch technologies are essential to temperature sensing and the safeguarding of short circuits. A second example is our key role in data center advancement. where we are benefiting from our leading position as a passive electronics and protection supplier with high-value and power semiconductor and switching capabilities. Our hyperscaler and infrastructure customers are evolving to higher power and current density solutions, and we are helping them develop safer and more efficient systems. We are innovating with our customers for multiple data center applications, including on the rack and power supply, Across these applications, we leverage our leading fuse, switching, sensing, and power semiconductor capabilities to provide integrated solutions. Importantly, in the quarter, we delivered key data center design wins for circuit protection and power distribution solutions and for megawatt-capable power semiconductor devices for use in grid transfer switches. Now, my second key observation is that we have a highly talented and motivated team and a well-positioned and flexible global operating model. both of which are essential to winning with customers. From my conversations, I have found our teams have a passion to win and then are invested in our technologies, our company, and our customers. Our teams are often embedded with our customers, partnering on the design of next generation solutions. We also have strong manufacturing and operating capabilities across our global footprint. We are often located in region with our customers and our supply chain, and we are well positioned to execute through a complex and evolving tariff and economic Our global teams and operating models are competitive advantages, providing us the opportunity to strengthen our long-term positioning with customers. Finally, my third observation, our strong profitability and cash generation provide a solid foundation for long-term success. We have a history of resilient and strong profitability, which reflects the unique value proposition of our trusted and essential products. We also benefit from the diverse nature of our in-market exposure. Importantly, we are a strong cash generator, while our balance sheet provides us significant flexibility. Our financial strength positions us to continue capitalizing on leading organic and inorganic growth opportunities. Going forward with our customers requiring higher power and energy density solutions, we can further leverage our expanding content opportunities to drive long-term profitability enhancements. Now, I wanted to spend a few minutes highlighting our first quarter results, and provide some insights into what we are seeing into the second quarter amid an uncertain environment. First, I am proud of our global teams, who worked hard to deliver strong results that exceeded our expectations. In the quarter, we delivered solid sequential growth in our passive electronics and protection business, while our industrial segment continues to drive strong results. In our transportation segment, our teams worked hard to deliver solid margin expansion, despite soft end market conditions. In the quarter, we observed improved book-to-bill across all our businesses, with total little-fused book-to-bill tracking above 1, reflecting our technology capabilities and our customer position. Our teams executed well through the first quarter, and we entered the second quarter with momentum and a strong backlog. Given growing trade and market uncertainty, we are working closely with our customers and partners to monitor potential demand risk in the second half. We have a history of navigating through challenging and fluid backdrops such as the supply chain shortages that emerged following COVID. We have a flexible operating model, and we have invested to align our footprint closer to our customers and their supply chain. We have built a strong tariff playbook that will help us navigate an uncertain environment. Taking a step back, while we're focused on executing through the current environment, I'm excited about our long-term opportunities. I am also confident that we are positioning ourselves to deliver best-in-class shareholder value. Before turning the call over to Meenal to provide additional color on her financial performance and outlook, I wanted to address our recent CFO transition plan announcement. On behalf of everyone at Little Fuse, we want to thank Meenal for her many contributions over her 10 years of leadership at the company. Meenal has been a key driver of Little Fuse's growth and profitability expansion, and thanks to her guidance, we enter our next phase of growth I look forward to partnering with MENAL through the transition phase as our search process for our next CFO is underway. With that, I will hand the call over to MENAL.