LOGI 8-K: Logitech Q2 sales $1.06B (-8% YoY); raises FY2024 outlook above expectations

Logitech Q2 sales $1.06B (-8% YoY); raises FY2024 outlook above expectations

LOGITECH INTERNATIONAL S.A.

2024-Q2 EPS reported $1.25 revenue$2,031,507,000

Q2 GAAP EPS $0.86 (+72% YoY); Non-GAAP EPS $1.09 (+30% YoY).

GAAP operating income $157M (+23% YoY); Non-GAAP op income $183M (+17%).

FY2024 guidance raised: sales $4.0-4.15B, Non-GAAP op income $525-575M.

Operating cash flow $223M, up $150M YoY; returned $276M to shareholders.

Gross margin expanded to 42.0%; operating expense down 9% YoY.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LOGITECH INTERNATIONAL S.A. reported the second quarter of Fiscal Year 2024 results: revenue $1.06 billion, EPS $0.86. Guidance raised.

Period: the second quarter of Fiscal Year 2024
Revenue: $1.06 billion
EPS: $0.86
Guidance: raised
Result: reported results

Exact text from the filing

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the second quarter of Fiscal Year 2024. • Sales were $1.06 billion, down 8 percent in US dollars and 9 percent in constant currency, compared to the prior year. • GAAP operating income was $157 million, up 23 percent compared to the prior year. Non-GAAP operating income was $183 million, up 17 percent compared to the prior year. In the quarter, the Company continued to reduce operating expenses, down 9 percent compared to the prior year, in line with the decline in net sales. • GAAP earnings per share (EPS) was $0.86, up 72 percent compared to the prior year. Non-GAAP EPS was $1.09, up 30 percent compared to the prior year. • Cash flow from operations was $223 million, up $150 million compared to the prior year. The quarter-ending cash balance was $1.16 billion. In the quarter, the Company returned $276 million of cash to shareholders through its annual dividend payment and share repurchases.

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