Quarterly ResultJul 28, 2026, 04:13 PM
Logitech Q1 Sales Up 7% to $1.23B; Supplier Incident to Impact Q2/Q3
AI Summary
Logitech International announced strong financial results for Q1 Fiscal Year 2027, marking its tenth consecutive quarter of growth. Sales rose 7% to $1.23 billion, and non-GAAP operating income increased 44% to $290 million, benefiting from $61 million in tariff refunds. However, the company also disclosed a serious incident at a semiconductor supplier's facility, which is expected to negatively impact Q2 net sales by approximately $20 million and Q3 net sales by up to $200 million, introducing uncertainty despite the strong start to the fiscal year.
Key Highlights
- Q1 FY27 Sales were $1.23 billion, up 7% in USD and 5% in constant currency.
- GAAP gross margin was 49.5%, up 780 basis points; Non-GAAP gross margin was 49.8%, up 770 basis points.
- GAAP operating income was $259 million, up 60%; Non-GAAP operating income was $290 million, up 44%.
- GAAP EPS was $1.63, up 66%; Non-GAAP EPS was $1.85, up 47%.
- Cash flow from operations was $167 million; cash balance was $1.75 billion.
- The Company returned $114 million to shareholders through share repurchases.
- Q2 FY27 sales outlook is $1.185 - $1.220 billion, with 0-3% growth.
- Q2 FY27 non-GAAP operating income outlook is $185 - $210 million.
- Supplier incident estimated to impact Q2 net sales by $20 million and Q3 by up to $200 million.
Price Impact
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