LFUS - Why Littelfuse Stock Jumped Today
Shares of Littelfuse (NASDAQ: LFUS) jumped on Wednesday after the circuit protection products provider reported its second-quarter results. While revenue and earnings were down substantially due to the coronavirus pandemic, the numbers were better than analysts were expecting. The stock rose nearly 12% early in the session, but as of 11:25 a.m. EDT, shares had settled to a 6.8% gain.
Littelfuse reported second-quarter revenue of $307.3 million, down 23% year over year but $32 million higher than the average analyst estimate. Sales declined due to production and demand impacts related to the pandemic.
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