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Mar 27, 2021
Garmin Q1 2021 Earnings Report
Reported strong double-digit revenue and operating income growth.
Key Takeaways
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.
Total revenue increased by 25% year-over-year to $1.07 billion, driven by growth in fitness, outdoor, marine, and auto segments.
Gross margin improved to 59.8% compared to 59.2% in the prior year quarter.
Operating margin improved to 23.3% compared to 20.7% in the prior year quarter.
GAAP EPS was $1.14 and pro forma EPS was $1.18, representing 30% growth in pro forma EPS over the prior year quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Garmin is maintaining its 2021 guidance for revenue of approximately $4.6 billion and pro forma EPS of $5.15.
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
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