Loading...
•
Mar 28, 2020
Garmin Q1 2020 Earnings Report
Garmin reported strong revenue and operating income growth for Q1 2020 but withdrew fiscal 2020 guidance due to COVID-19 economic uncertainty.
Key Takeaways
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.
Total revenue increased by 12% to $856 million, with fitness, marine, outdoor, and aviation segments collectively growing by 17%.
Operating income grew by 17% to $177 million.
GAAP EPS was $0.84, and pro forma EPS was $0.91, a 25% increase year-over-year.
The company withdrew its fiscal 2020 guidance due to economic uncertainty caused by the COVID-19 pandemic.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Garmin withdrew its fiscal 2020 guidance due to the rapid and unpredictable economic changes caused by the COVID-19 pandemic. Management expects to provide guidance once the trajectory of the economy and consumer behaviors are better understood.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...