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Jun 27, 2020
Garmin Q2 2020 Earnings Report
Garmin reported strong revenue and income, with fitness and marine segments offsetting declines in other areas.
Key Takeaways
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.
Total revenue was $870 million, a 9% year-over-year decrease.
Gross margin was 59.3% and operating margin was 21.7%.
GAAP EPS was $0.96 and pro forma EPS was $0.91.
Acquired Firstbeat Analytics, a leading provider of physiological analytics technology.
Garmin
Garmin
Garmin Revenue by Segment
Garmin Revenue by Geographic Location
Revenue by Segment
Fitness Revenue
CapyFin.comOutdoor Revenue
CapyFin.comAviation Revenue
CapyFin.comMarine Revenue
CapyFin.comAuto OEM Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as “anticipates”, “would,” “may,” “expects,” “estimates,” “plans,” “intends,” “projects,” and other words or phrases with similar meanings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income