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Sep 30, 2023
Garmin Q3 2023 Earnings Report
Reported double-digit revenue and operating income growth in the third quarter.
Key Takeaways
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.
Consolidated revenue of $1.28 billion, a 12% increase compared to the prior year quarter
Gross margin and operating margin were 57.0%, and 21.2%
Operating income was $270 million, a 13% increase compared to the prior year quarter
GAAP EPS of $1.34 and pro forma EPS of $1.41, representing 14% growth in pro forma EPS over the prior year quarter
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Based on performance in the first three quarters of 2023 and the closing of the acquisition of JL Audio, the company is adjusting its full year guidance. They now anticipate revenue of approximately $5.150 billion and pro forma EPS of $5.25.
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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