Switzerland's Logitech Q1 sales beat estimates helped by Pointing Devices, Gaming categories

Logitech international

28/07/2026 21:16

Overview
Switzerland computer peripherals maker's preliminary Q1 sales rose 7%, beating analyst expectations
Adjusted EPS for preliminary Q1 rose 47% and beat analyst expectations
Company says Q1 results benefited from $61 mln in tariff refunds

Outlook
Logitech sees Q2 FY27 sales of $1.185 bln to $1.22 bln
Company expects Q2 FY27 non-GAAP operating income of $185 mln to $210 mln
Logitech estimates Q3 sales could be reduced by up to $200 mln due to supplier incident

Result Drivers
PRODUCT CATEGORY GROWTH - Double-digit sales growth in Pointing Devices and Gaming categories helped drive Q1 results, per CEO Hanneke Faber
TARIFF REFUNDS - Q1 results benefited from $61 mln in tariff refunds, boosting gross margin and operating income
OPERATIONAL DISCIPLINE - CFO Matteo Anversa said operational discipline supported performance, with non-GAAP operating income growing even excluding tariff refunds

Company press release: ID:nBwbTZtF2a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Beat
$1.23 bln
$1.20 bln (6 Analysts)
Q1 Adjusted EPS
Beat
$1.85
$1.22 (6 Analysts)
Q1 EPS
 
$1.63
 
Q1 Adjusted Operating income
Beat
$290 mln
$198.72 mln (5 Analysts)
Q1 Operating income
 
$259 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the computer hardware peer group is "buy."
Wall Street's median 12-month price target for Logitech international SA is CHF95.00, about 8.2% above its July 28 closing price of CHF87.80
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
July 27 - Netherlands' Philips lifts annual profit, cash flow outlook after US tariff refund
July 28 - Switzerland's LEM Holding Q1 sales rise on data center demand
July 28 - Switzerland's SIG Group H1 revenue falls on weak demand, market contraction

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)