Daily reviews

01.03.2021

Logitech warns on its FY 2022 income, raises 2021 outlook

Logitech warns on its FY 2022 income, raises 2021 outlook

Sales growth in constant currency is expected to be approximately flat, plus or minus 5%

Stocks impacted: Logitech International (LOGI)

Logitech warned its 2022 operating income is expected to be between $750 million and $800 million, down from the $1.1 billion it now expects for fiscal 2021 (revised from its previous estimate of $1.05 billion). For fiscal 2021, the Swiss-U.S. company raised its sales growth forecast to about 63%, up from the 57-60% range it previously expected. Meanwhile, sales growth in constant currency is expected to be approximately flat, plus or minus 5%, while expectations of long-term sales growth in constant currency have increased to 8 to 10%. The non-GAAP operating margin target has improved to between 14 and 17%, up from 11 to 14%. As a reminder, earlier this year, Logitech reported a more than three-fold jump in quarterly adjusted operating income. Sales at the company increased 85% to $1.67 billion in the third quarter.

Make profit on it right now!