Logitech(LOGI)

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Logitech (LOGI) Up 2.5% Since Last Earnings Report: Can It Continue?
ZACKS· 2024-08-21 16:35
It has been about a month since the last earnings report for Logitech (LOGI) . Shares have added about 2.5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Logitech due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Logitech Q1 Earnings and Revenues Surpass Estimates ...
Here's Why Logitech (LOGI) is a Strong Momentum Stock
ZACKS· 2024-08-19 14:52
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Logitech (LOGI) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2024-07-26 14:36
Core Viewpoint - Logitech's stock has underperformed the S&P 500 composite over the past month, returning -8.2% compared to the index's -1.2% change, but it holds a Zacks Rank 2 (Buy), suggesting potential outperformance in the near term [1]. Financial Performance - For the quarter ended June 2024, Logitech reported revenue of $1.09 billion, reflecting an 11.7% increase year-over-year. The earnings per share (EPS) was $1.13, up from $0.65 in the same quarter last year [3]. - The reported revenue exceeded the Zacks Consensus Estimate of $1.03 billion, resulting in a surprise of +5.30%. The EPS also surpassed expectations by +26.97%, with the consensus estimate being $0.89 [6]. Segment Performance - Net Sales in Gaming reached $309.48 million, exceeding the average analyst estimate of $293.90 million, marking a year-over-year increase of +16.2% [5]. - Net Sales for Keyboards & Combos were $215.33 million, surpassing the estimate of $189.65 million, with a year-over-year change of +19.1% [5]. - Net Sales in Pointing Devices amounted to $189.95 million, above the estimate of $181.05 million, representing an +8.9% change year-over-year [5]. - Other segment sales were $30.74 million, slightly above the estimate of $29.94 million [5]. - Webcams reported sales of $72.90 million, below the estimate of $76.54 million, reflecting a -3.1% change year-over-year [5]. - Tablet Accessories achieved sales of $78.54 million, exceeding the estimate of $76.21 million, with an +11.7% year-over-year change [5]. - Headsets generated $44.24 million in sales, surpassing the estimate of $38.29 million [5]. - Video Collaboration sales were $147.04 million, slightly below the estimate of $147.94 million, with a year-over-year increase of +5.5% [5].
Logitech(LOGI) - 2025 Q1 - Quarterly Report
2024-07-25 20:21
Sales Performance - Total sales for the three months ended June 30, 2024, increased by 12% to $1,088.2 million compared to $974.5 million for the same period in 2023, driven by improved demand in Gaming, Keyboards & Combos, and Pointing Devices [142]. - The Americas region generated sales of $485.3 million, up from $445.2 million in the prior year, while EMEA and Asia Pacific regions reported sales of $309.8 million and $293.1 million, respectively [158]. Financial Metrics - The income tax provision for the three months ended June 30, 2024, was $25.6 million, compared to $12.5 million for the same period in 2023, primarily due to the mix of income and losses in various tax jurisdictions [143]. - The company had uncommitted, unsecured bank lines of credit totaling $171.8 million as of June 30, 2024, with no outstanding borrowings under these lines [146]. - The company’s goodwill and other intangible assets increased slightly from $461.978 million as of March 31, 2024, to $462.003 million as of June 30, 2024 [145]. Share Repurchase - The company repurchased 1.4 million shares for an aggregate cost of $132.1 million under the 2023 share repurchase program during the three months ended June 30, 2024 [150]. Currency Exposure - Approximately 49% of the company's sales for the three months ended June 30, 2024, were in non-U.S. denominated currencies, with 21% of sales in Euro, exposing the company to currency exchange rate risks [289]. Strategic Direction - The ongoing growth in gaming and social gaming presents opportunities for the company to expand its product offerings to a wider community of gamers [138]. - The company is continuously reviewing its product offerings and strategic direction in light of profitability targets and changing consumer trends [136]. Legal Proceedings - The company is involved in several legal proceedings but does not believe that these will have a material adverse effect on its financial condition [149].
Logitech: Near-Term Earnings Performance May Be Weak (Rating Downgrade)
Seeking Alpha· 2024-07-24 12:04
Core Viewpoint - LOGI's 1Q25 results showed a solid 12% revenue growth, but concerns arise from weak consumer spending and rising freight costs, leading to a downgrade from a buy to a hold rating [2][12][19]. Financial Performance - LOGI reported revenue of $1.088 billion for 1Q25, a 12% year-over-year growth, exceeding consensus estimates by 6% [19]. - Gross margin improved by 430 basis points year-over-year to 43.3%, EBIT margin expanded by 560 basis points to 16.8%, and net margin increased by 540 basis points to 16% [19]. - Earnings per share (EPS) rose to $1.13 compared to $0.65 in 1Q24 [19]. Market Dynamics - The gap between sell-in and sell-through has widened, indicating high channel inventory and weak end demand, with a 900 basis point difference in 1Q25 [9][20]. - Consumer confidence has declined, impacting discretionary spending, which is critical for LOGI's growth [8][12]. Freight Costs - Freight costs have surged nearly 50% above the average experienced in 1Q25, potentially squeezing LOGI's gross margins [16][17]. - Rising freight costs may necessitate increased promotional spending, which could further pressure margins [17]. Inventory Management - LOGI has made progress in reducing on-hand inventory, which declined by 20% year-over-year, and inventory turns increased to 5x [20]. - However, there are concerns that inventory has shifted to distributors, leading to potential limitations on future growth if sell-through does not outpace sell-in [20]. Future Outlook - Management has upgraded FY25 revenue guidance to a range of $4.34 to $4.43 billion, reflecting a midpoint growth of 1.5% [19]. - The stock is expected to trade sideways until there are clear signs of improved consumer demand [18].
Why Logitech Stock Is Falling Today
The Motley Fool· 2024-07-23 16:33
Before the market opened this morning, the gaming and computer accessories specialist reported results for the first quarter of its current fiscal year (for the period ended June 30). In addition to delivering sales and earnings results that topped the market's expectations, the company also raised its full-year performance targets. But performance also weakened significantly along one key metric. Logitech crushed earnings expectations in fiscal Q1 Logitech posted non-GAAP (adjusted) earnings per share of $ ...
Logitech (LOGI) Q1 Earnings and Revenues Surpass Estimates
ZACKS· 2024-07-23 15:31
Logitech's fiscal first-quarter non-GAAP earnings of $1.13 per share beat the Zacks Consensus Estimate of 89 cents and registered a year-over-year increase of 74%. The company's bottom-line results mainly benefited from increased revenues and lower product costs and promotional costs, leading to gross margin expansion. On the other hand, Webcams declined 3% to $73 million and the Other category's revenues fell 1% to $30.7 million. Our estimates for Logitech's Webcams and Other category's first-quarter reven ...
Logitech: The Results Are Impressive, But The Valuation Is A Concern
Seeking Alpha· 2024-07-23 13:03
Rating: × Analysis All Ratings Filtered By: LOGI (1) Analyst's Rating History on LOGI Sell 125 100 78 Logitech: We Would Like To See Profitability And Efficiency Improve '23 HOLD Jan. 25, 2023 = 0 Comments LOGI change to date: 62.17% fitability And Efficiency Improve S&P 500 change to date: 38,55% Earnings results $1,088 13% 43.3% $182 $1.13 $176 million million per share million sh Flow fr /Y Sales % (CC Gross Mar ating Inc. Diluted EPS Operation Sales Sales (LOGI) | --- | --- | --- | --- | --- | |-------- ...
Logitech(LOGI) - 2025 Q1 - Quarterly Results
2024-07-23 01:06
Exhibit 99.1 Editorial Contacts: Nate Melihercik, Head of Global Investor Relations - ir@logitech.com Nicole Kenyon, Head of Global Corporate and Internal Communications - nkenyon@logitech.com (USA) Ben Starkie, Corporate Communications - +41 (0) 79-292-3499, bstarkie1@logitech.com (Europe) • GAAP operating income was $153 million, up 96 percent, compared to Q1 of the prior year. Non-GAAP operating income was $182 million, up 67 percent, compared to Q1 of the prior year. • Cash flow from operations was $176 ...
Logitech (LOGI) Loses -7.68% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
ZACKS· 2024-07-19 14:35
Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements. Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their findamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal. However, like ...