Logitech International SA · Q3 2022 earnings

Briefing

Logitech's Q3 2022 results were announced, with sales down slightly but growth in key categories, and the company raised its FY 2022 outlook.

Logitech announced Q3 Fiscal Year 2022 results with sales of $1.63 billion, a decrease of 2% compared to the prior year. However, the company saw growth in Pointing Devices, Keyboards & Combos, and Gaming. Logitech raised its Fiscal Year 2022 annual outlook to between 2 and 5 percent sales growth in constant currency, and between $850 million and $900 million in non-GAAP operating income.

• Sales were $1.63 billion, down 2 percent in US dollars and constant currency, compared to Q3 of the prior year.
• Category sales in US dollars grew 29 percent in Keyboards & Combos and 8 percent in Pointing Devices and Gaming, compared to Q3 of the prior year.
• GAAP earnings per share (EPS) declined 44 percent to $1.24, compared to $2.22 in the same quarter a year ago.
• The Company raised annual guidance for both sales and profitability.

Headline financials

Revenue & EPS history

Logitech raised its Fiscal Year 2022 annual outlook to between 2 and 5 percent sales growth in constant currency, and between $850 million and $900 million in non-GAAP operating income. The Company’s previous outlook was flat sales growth in constant currency, plus or minus five percent, and $800 million to $850 million in non-GAAP operating income.