Overview
Garmin Q3 revenue grows 12% yr/yr but misses analyst expectations
Net income for Q3 beats analyst estimates
Operating income for Q3 beats analyst expectations
Garmin raises full-year EPS guidance
Outlook
Garmin raises full-year 2025 EPS guidance to $8.15
Company anticipates 2025 revenue of approximately $7.10 bln
Garmin positions for holiday season with innovative product lineup
Result Drivers
FITNESS SEGMENT - Revenue increased 30% due to strong demand for advanced wearables
AVIATION SEGMENT - Revenue increased 18% with growth in both OEM and aftermarket products
MARINE SEGMENT - Revenue increased 20% with growth across multiple categories
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $1.77 bln | $1.78 bln (3 Analysts) |
Q3 Pro forma EPS | $1.99 | ||
Q3 EPS | $2.08 | ||
Q3 Net Income | Beat | $401.61 mln | $379.80 mln (3 Analysts) |
Q3 Gross Margin | 59.10% | ||
Q3 Operating income | Beat | $456.80 mln | $447 mln (3 Analysts) |
Q3 Pretax Profit | $509.82 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the communications & networking peer group is "buy."
Wall Street's median 12-month price target for Garmin Ltd is $203.22, about 22.1% below its October 28 closing price of $248.09
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 25 three months ago
Press Release: ID:nPn9RmkC7a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)