earnings
confidence high
sentiment negative
materiality 0.75
Logitech Q1 sales down 12% YoY to $1.16B; slashes FY23 outlook, cuts non-GAAP OI forecast
LOGITECH INTERNATIONAL S.A.
2023-Q1 EPS reported
$0.61
revenue$1,159,865,000
- GAAP EPS $0.61 (-44% YoY); Non-GAAP EPS $0.74 (-39% YoY) vs $1.22 prior year.
- Video Collaboration (+5% USD), Keyboards & Combos (+4%) grew; Gaming declined 16%.
- FY23 outlook cut: sales growth -8% to -4% constant currency (prev. +2% to +4%); non-GAAP OI now $650-750M.
- Board increased share buyback authorization to $1.5B, with ~$800M remaining over next 12 months.
- Non-GAAP operating income $146M (-38% YoY) on $1.16B revenue (-12% USD, -9% CC).