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Mar 26, 2022
Garmin Q1 2022 Earnings Report
Reported record first quarter revenue and announced share repurchase plan.
Key Takeaways
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.
Record consolidated revenue of $1.17 billion, a 9% increase over the prior year quarter with three segments posting double digit growth
Gross and operating margins were 56.5% and 19.5%, respectively
Operating income of $229 million, an 8% decrease compared to the prior year quarter
GAAP EPS was $1.09 and pro forma EPS was $1.11
Garmin
Garmin
Garmin Revenue by Segment
Garmin Revenue by Geographic Location
Forward Guidance
We are maintaining our 2022 guidance for revenue of approximately $5.5 billion and pro forma EPS of $5.90
Revenue & Expenses
Visualization of income flow from segment revenue to net income