Logitech(LOGI)

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Logitech(LOGI) - 2024 Q2 - Earnings Call Transcript
2023-10-24 18:28
Financial Data and Key Metrics Changes - The company reported a revenue decline of 9% year-over-year, but there was year-over-year growth in pointing devices, primarily mice [29][66] - Gross margins expanded to 42%, driven by cost improvements and lower promotions, with expectations for Q3 margins to be around 38% to 39% [65][66] - Operating income was $183 million, better than expectations due to improved demand and strong gross margins [66] Business Line Data and Key Metrics Changes - The gaming segment faced challenges due to an aged product portfolio, but new products are expected to launch soon [4] - Video collaboration solutions generated $152 million in sales, indicating strong market presence despite cautious corporate spending [37][66] - The consumer segment remained strong, particularly in Europe, while enterprise sales showed signs of recovery [29][34] Market Data and Key Metrics Changes - Europe showed a strong performance with a 5% year-over-year increase in U.S. dollars, while the overall business was down 9% [29][122] - The U.S. market performance was described as "so-so," and Asia continued to lag behind [29][34] Company Strategy and Development Direction - The company is focused on capital allocation, returning $276 million to shareholders through dividends and share repurchases [66] - There is a commitment to innovation with 16 new product launches ahead of the holiday season, including AI-powered products [63][66] - The company sees AI as a major strategic opportunity and plans to deliver solutions that bridge human and machine interactions [63] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about slowing the rate of decline and eventually returning to growth, raising the full-year revenue outlook to $4 billion to $4.15 billion [47][66] - The company is navigating a cautious corporate spending environment due to high interest rates and global uncertainties [37][66] Other Important Information - The company improved inventory turns from 3.2 to 4.6 year-over-year, nearing the target of five turns [46] - The CEO search is ongoing, with progress being made towards finalizing a decision [44] Q&A Session Summary Question: What are the drivers of stronger demand throughout the quarter? - Management indicated that the consumer segment has been strong, particularly in pointing devices, while enterprise sales are showing recovery signs [29][37] Question: Can you provide more details on the performance in Europe? - Europe performed well across both consumer and enterprise segments, with specific strengths in gaming and video products [29][34][122] Question: What is the outlook for the gaming segment? - The gaming segment is expected to benefit from new product launches, although the current portfolio is aged [4][66] Question: How does the company view the current operating environment? - Management noted that companies are being cautious with spending, but they believe the demand for video conferencing solutions will return as hybrid work models stabilize [37][66] Question: What are the expectations for gross margins moving forward? - Gross margins are expected to be pressured in Q3 due to promotions, but the company aims to maintain a long-term target of 39% to 44% [65][66]
Logitech(LOGI) - 2024 Q2 - Earnings Call Presentation
2023-10-24 13:24
logitech Forward-Looking Statements A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech's periodic filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and our subsequent reports filed with the SEC, available at ...
Logitech(LOGI) - 2024 Q1 - Earnings Call Presentation
2023-08-06 17:36
July 24, 2023 Non-GAAP Financial Measures Q1 Fiscal Year 2024 Financial Results This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding our preliminary financial results for the three months ended June, 2023; full year and first half Fiscal Year 2024 outlook for sales and non-GAAP operating income; growth expectations; non-GAAP gross margin; business strategy, including but not limited to design led eng ...
Logitech(LOGI) - 2024 Q1 - Quarterly Report
2023-07-26 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or FORM 10-Q (Exact name of registrant as specified in its charter) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Canton of Vaud, Switzerland None (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Iden ...
Logitech(LOGI) - 2024 Q1 - Earnings Call Transcript
2023-07-25 17:02
Logitech International S.A. (NASDAQ:LOGI) Q1 2024 Earnings Conference Call July 25, 2023 8:30 AM ET Company Participants Nate Melihercik - Head, Global Investor Relations Guy Gecht - Interim Chief Executive Officer Chuck Boynton - Chief Financial Officer Conference Call Participants Asiya Merchant - Citi Adam Angelov - Bank of America George Wang - Barclays Alexander Duval - Goldman Sachs Ananda Baruah - Loop Capital Erik Woodring - Morgan Stanley Joern Iffert - UBS Andreas Müller - ZKB Michael Foeth - Vont ...
Logitech(LOGI) - 2023 Q4 - Annual Report
2023-05-16 16:00
For the Transition Period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-29174 LOGITECH INTERNATIONAL S.A. (Exact name of registrant as specified in its charter) Canton of Vaud, Switzerland None (State or ...
Logitech(LOGI) - 2023 Q4 - Earnings Call Presentation
2023-05-02 16:49
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------|-------|---------|-------|---------|-------|---------|-------|-------|-----------|-----------|---------|-------|-------|---------|-------|---------|-------|---------| | GAAP TO NON-GAAP RECONCILIATION | | Q1'22 | | Q2'22 | | Q3:22 | | | Q4"22 | | Q1'23 | | Q2'23 | | | Q3'23 | | Q4'23 | | Gross profit - GAAP | 5 | 568,926 | 5 | 542,163 | 5 | 658,010 | | | s ...
Logitech(LOGI) - 2023 Q3 - Quarterly Report
2023-01-25 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 0-29174 LOGITECH INTERNATIONAL S.A. (Exact name of registrant as specified in its charter) Canton of Vaud, Swi ...
Logitech(LOGI) - 2023 Q2 - Quarterly Report
2022-10-26 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File Number: 0-29174 LOGITECH INTERNATIONAL S.A. (Exact name of registrant as specified in its charter) Canton of Vaud, Sw ...
Logitech(LOGI) - 2023 Q2 - Earnings Call Transcript
2022-10-25 16:53
Logitech International SA (NASDAQ:LOGI) Q2 2023 Earnings Conference Call October 25, 2022 8:30 AM ET Company Participants Nate Melihercik – Investor Relations Bracken Darrell – President and Chief Executive Officer Nate Olmstead – Chief Financial Officer Conference Call Participants Asiya Merchant – Citi Paul Chung – JPMorgan Alex Duval – Goldman Sachs Adam Angelov – Bank of America Joern Iffert – UBS Rob Sanders – Deutsche Bank Erik Woodring – Morgan Stanley Serge Rotzer – Credit Suisse Michael Foeth – Von ...