POLY - Plantronics slides following Q2 revenue miss downside outlook for FY22

Plantronics (NYSE:POLY) slumps 10% following its Q2 earnings, where the company missed revenue expectations and guided FY22 below consensus. Q2 revenues were up 2% Y/Y to $419M, below the consensus of $436M. Adjusted EPS was $0.77, coming in $0.16 ahead of consensus estimates. "Global supply chain pressures, including both semiconductor chip shortages and transportation constraints, have impacted companies worldwide, and we expect we will continue to experience ongoing tightness and volatility in our supply chain, in turn compromising near-term visibility." "Given this environment, the Company has elected to provide full fiscal-year 2022 guidance rather than specific ranges for fiscal Q3". The company expects fiscal Q4 revenue to be stronger than Q3. For the fiscal year 2022, Plantronics forecasts sales of $1.675-1.725, below the $1.79B consensus; sees non-GAAP EPS between $2.30-$2.70 vs. $2.90 estimates. Previously (Oct. 28): Plantronics EPS beats by $0.16, misses on revenue. Related: Plantronics, Inc. (POLY) CEO Dave Shull on Q2

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Plantronics slides following Q2 revenue miss, downside outlook for FY22