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Dec 31, 2022
Garmin Q4 2022 Earnings Report
Reported a decrease in revenue but an expansion in gross margin.
Key Takeaways
Garmin Ltd. announced its Q4 2022 results, with a consolidated revenue of $1.31 billion, a 6% decrease compared to the prior year quarter. Despite the revenue decrease, the gross margin expanded to 57.0%. The company's GAAP EPS was $1.53, and the pro forma EPS was $1.35.
Consolidated revenue decreased by 6% to $1.31 billion compared to the prior year quarter.
Gross margin expanded to 57.0% from 55.5% in the prior year quarter.
Operating margin was 20.5% compared to 22.6% in the prior year quarter.
GAAP EPS was $1.53 and pro forma EPS was $1.35.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects full year 2023 revenue of approximately $5.00 billion, an increase of approximately 3% over 2022. They expect their full year pro forma EPS to be approximately $5.15.
Positive Outlook
- Full year 2023 revenue expected to be approximately $5.00 billion, an increase of approximately 3% over 2022.
- Gross margin of approximately 57.5%.
- Operating margin of approximately 20.3%.
- Pro forma effective tax rate of approximately 8.0%.
- Full year pro forma EPS to be approximately $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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