Garmin Earnings Reports

Garmin achieved record revenue of $1.82 billion in Q4 2024, marking a 23% YoY increase. The company also saw a significant expansion in operating margin to 28.3% and strong growth in the Fitness and Outdoor segments. However, net income declined 19.6% YoY, primarily due to tax-related impacts.

Garmin announced record third quarter consolidated revenue of $1.59 billion, a 24% increase compared to the prior year quarter, and operating income of $437 million, a 62% increase compared to the prior year quarter. The company raised its full year guidance based on the results achieved and the momentum experienced.

Garmin announced strong Q2 2024 results with a 14% increase in consolidated revenue to $1.51 billion and a 20% increase in operating income to $342 million. The company's performance exceeded expectations, leading to an upward revision of the full-year revenue and EPS guidance.

Garmin's Q1 2024 results showed strong performance with a 20% increase in consolidated revenue to $1.38 billion and a 51% increase in operating income to $298 million. The company achieved record first quarter revenue in four segments, driven by robust demand and a strong product portfolio. GAAP EPS was reported at $1.43, and pro forma EPS at $1.42, representing a 39% growth in pro forma EPS.

Garmin reported a strong fourth quarter with a 13% increase in consolidated revenue to $1.48 billion. Gross margin expanded to 58.3%, and operating margin reached 23.0%. GAAP EPS was $2.82, and pro forma EPS was $1.72, representing 27% growth in pro forma EPS.

Garmin Ltd. announced outstanding performance in Q3 2023, with a 12% increase in consolidated revenue to $1.28 billion. Operating income rose by 13% to $270 million, and GAAP EPS reached $1.34. The company has raised its outlook for the remainder of the year.

Garmin Ltd. announced a 6% increase in consolidated revenue, reaching $1.32 billion, with growth in three of five segments. The company's gross margin was 57.5% and operating margin was 21.5%. GAAP EPS was $1.50 and pro forma EPS was $1.45, representing 1% growth in pro forma EPS over the prior year quarter.

Garmin Ltd. announced its first quarter 2023 results, with consolidated revenue of $1.15 billion, a 2% decrease compared to the prior year quarter. Four of the five segments posted double-digit revenue growth. GAAP EPS was $1.05 and pro forma EPS was $1.02.

Garmin Ltd. announced its Q4 2022 results, with a consolidated revenue of $1.31 billion, a 6% decrease compared to the prior year quarter. Despite the revenue decrease, the gross margin expanded to 57.0%. The company's GAAP EPS was $1.53, and the pro forma EPS was $1.35.

Garmin's consolidated revenue was $1.14 billion, a 4% decrease compared to the prior year quarter. Gross margin expanded to 58.8%, and operating margin was 21.0%. GAAP EPS was $1.09 and pro forma EPS was $1.24.

Garmin reported a decrease in revenue driven primarily by underperformance in the fitness segment. The company faces headwinds including the strengthening U.S. Dollar, high inflation, and rising interest rates. However, they believe their innovative products and diversification strategy will help them remain strong.

Garmin Ltd. announced record consolidated revenue of $1.17 billion, a 9% increase over the prior year quarter with three segments posting double digit growth. GAAP EPS was $1.09 and pro forma EPS was $1.11.

Garmin Ltd. announced its Q4 and Fiscal Year 2021 results, highlighted by record consolidated revenue of $1.39 billion for the quarter, a 3% increase over the prior year quarter. However, operating income decreased by 15% to $315 million. GAAP EPS was $1.48 and pro forma EPS was $1.55.

Garmin reported a strong third quarter with record consolidated revenue driven by strong demand for active lifestyle products and impressive double-digit growth in the marine and aviation segments. The company's performance exceeded expectations, leading to an updated full-year revenue and EPS guidance.

Garmin Ltd. announced record second quarter revenue and operating income, with total revenue of $1.33 billion, a 53% increase over the prior year quarter, and operating income of $371 million, a 97% increase over the prior year quarter. Strong demand for active lifestyle products continued, and the company experienced solid recovery within its aviation and auto segments.

Garmin reported a strong first quarter with a 25% increase in total revenue, driven by double-digit growth in the fitness, outdoor, marine, and auto segments. Gross margin and operating margin improved, leading to a 41% increase in operating income and a 30% growth in pro forma EPS.

Garmin Ltd. announced record fourth quarter and fiscal year results, with total revenue of $1.35 billion, a 23% increase over the prior year quarter. Strong demand for active lifestyle products fueled growth, and the company expects these trends to continue into 2021.

Garmin reported a strong third quarter with total revenue of over $1.1 billion, a 19% year-over-year increase, led by robust growth in marine, fitness and outdoor. Gross margin was 60.2% and operating margin was 28.6%. GAAP diluted EPS was $1.63, a 24% increase over the prior year quarter.

Garmin's Q2 2020 revenue reached $870 million, a 9% decrease year-over-year, with growth in the fitness and marine segments partially offsetting declines in outdoor, aviation, and automotive. The company reported a GAAP EPS of $0.96 and a pro forma EPS of $0.91. They also acquired Firstbeat Analytics.

Garmin Ltd. announced strong results for the first quarter ended March 28, 2020, with a 12% increase in total revenue to $856 million and a 17% increase in operating income to $177 million. GAAP EPS was $0.84 and pro forma EPS was $0.91, representing 25% growth over the prior year quarter. The company withdrew its fiscal 2020 guidance due to economic uncertainty caused by the COVID-19 pandemic.

Garmin Ltd. reported an 18% increase in total revenue, reaching $1.102 billion in Q4 2019. Operating income increased by 24% to $277 million, and GAAP EPS was $1.89. The company's fitness, aviation, marine, and outdoor segments collectively grew by 24% over the prior year quarter.