Logitech Q3 2024 Earnings Report
Key Takeaways
Logitech announced solid results in the third quarter, with sales at $1.26 billion, a decrease of 1% in US dollars compared to the prior year. However, GAAP EPS increased by 80% to $1.55, and the company raised its full-year outlook for Fiscal Year 2024.
Sales were $1.26 billion, down 1 percent in US dollars and 3 percent in constant currency, compared to the prior year.
GAAP operating income was $222 million, up 26 percent compared to the prior year. Non-GAAP operating income was $248 million, up 22 percent compared to the prior year.
GAAP earnings per share (EPS) was $1.55, up 80 percent compared to the prior year. Non-GAAP EPS was $1.53, up 34 percent compared to the prior year.
Cash flow from operations was $443 million, up 58 percent compared to the prior year. The quarter-ending cash balance was $1.41 billion.
Logitech
Logitech
Logitech Revenue by Segment
Forward Guidance
Logitech raised its full-year outlook for Fiscal Year 2024.
Positive Outlook
- Sales: $4.2 - $4.25 billion (previous $4.0 - $4.15 billion)
- Sales growth/ (decline) (in US dollars, year over year): (7%) - (6%) (previous (12%) - (9%))
- Non-GAAP operating income: $610 - $660 million (previous $525 - $575 million)
- Non-GAAP op. inc. growth/ (decline) (year over year): 4% - 12% (previous (11%) - (2%))
Revenue & Expenses
Visualization of income flow from segment revenue to net income