Logitech International S.A. (NASDAQ:LOGI) – Logitech Stock Gains On Q3 Earnings Beat



  • Logitech International SA (NASDAQ: LOGI) reported a third-quarter FY22 sales decline of 2% year-on-year to $1.63 billion, beating the consensus of $1.27 billion.
  • Category sales grew 29% Y/Y in Keyboards & Combos and 8% Y/Y in Pointing Devices and Gaming. Video Collaboration was down 2% Y/Y.
  • Margins: The non-GAAP gross margin contracted 460 bps to 40.6%.
  • Non-GAAP operating income declined 37% to $302 million, and the corresponding margin contracted 1,010 bps to 18.5%.
  • Non-GAAP EPS of $1.55 beat the consensus of $1.10.
  • Logitech generated $377 million in operating cash flow and held $1.4 billion in cash and equivalents.
  • “Our Q3 results reflect the strength of our operational capabilities, innovation engine, and the choices we made to position ourselves in line with the long-term trends affecting work, play, and creating,” CEO Bracken Darrell said.
  • Outlook: Logitech raised its FY22 outlook to 2% – 5% sales growth in constant currency and $850 million – $900 million in non-GAAP operating income.
  • The company’s previous outlook was flat sales growth in constant currency, plus or minus 5%, and $800 million – $850 million in non-GAAP operating income.
  • Price Action: LOGI shares traded higher by 7.79% at $80.25 in the premarket session on the last check Tuesday.




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