Logitech warns Q3 sales down 22-23%, slashes FY2023 guidance on macro headwinds

LOGITECH INTERNATIONAL S.A.

2023-Q3 EPS reported $1.96 revenue$3,578,741,000

Preliminary Q3 net sales $1.26-1.27B (-22-23% YoY); GAAP operating income $171-176M (-33-35%).
Non-GAAP operating income $198-203M (-33-34%); operating margin ~15.7-16.0%.
Full-year FY2023 outlook cut: constant-currency sales growth now -15% to -13% (prior -8% to -4%).
Full-year non-GAAP operating income expected $550-600M, down from prior $650-750M.
CEO cites slowdown in enterprise sales, China COVID supply uncertainty as headwinds.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LOGITECH INTERNATIONAL S.A. updated its quarter ended December 31, 2022 guidance (lowered).

Period: quarter ended December 31, 2022
Guidance: lowered
Result: preliminary results

Exact text from the filing

announced preliminary unaudited financial results ranges for the third quarter of Fiscal Year 2023 ended on December 31, 2022. • Preliminary third quarter net sales are between $1.26 billion and $1.27 billion, down between 22 and 23 percent in US dollars and 17 and 18 percent in constant currency, compared to Q3 of the prior fiscal year. • Preliminary GAAP operating

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LOGITECH INTERNATIONAL S.A. updated its quarter ended December 31, 2022 guidance (lowered).

Period: quarter ended December 31, 2022
Guidance: lowered
Result: preliminary results

Exact text from the filing

Logitech adjusted its Fiscal Year 2023 outlook to between negative 15 percent and negative 13 percent sales growth in constant currency, and between $550 million and $600 million in non-GAAP operating income.

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Source: SEC EDGAR

accession 0001628280-23-000934

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