Logitech (LOGN) Q2 2027 earnings summary

Executive summary

• 11th consecutive quarter of YoY sales growth: Q2 net sales of $1.219B, up 3% in USD and 2% in constant currency; net income was $180.0M versus $170.7M.

• Growth in Gaming and Video Collaboration was partly offset by lower Tablet Accessories sales.

Financial highlights

• Q2 GAAP operating income rose to $200.6M from $191.3M; non-GAAP operating income was $231M, up 0.4% YoY.

• Q2 diluted GAAP EPS was $1.25 versus $1.15; non-GAAP EPS was $1.51, up 4% YoY.

• H1 net sales were $2.446B versus $2.334B; GAAP net income was $415.7M versus $317M.

• Q2 cash flow from operations was $164M; quarter-end cash and equivalents were $1.508B.

Outlook and guidance

• Q3 sales outlook is $1.36B–$1.43B, down 5% to flat YoY in constant currency; non-GAAP operating income guidance is $220M–$255M.

• Supplier disruption is expected to reduce Q3 sales by $70M–$80M, with most of the impact expected to be resolved by Q4.

• Q3 non-GAAP gross margin guidance is 41%–42%; inflation and higher promotional activity are expected to pressure margins.

• FY2027 non-GAAP operating margin is expected at the high end of the 15%–18% long-term range, excluding $61M of tariff refunds.