Overview
Switzerland-based GPS device maker's Q4 revenue rose 17%, beating analyst expectations
Net income for Q4 rose, beating analyst estimates
Company announced $500 mln share repurchase program
Outlook
Garmin expects 2026 revenue to reach $7.9 bln, a 9% increase over 2025
Company anticipates 2026 pro forma EPS of $9.35
Garmin announces new $500 mln share repurchase program
Result Drivers
FITNESS SEGMENT - Revenue increased 42% due to strong demand for wearables, driven by market share gains and market growth
MARINE SEGMENT - Revenue grew 18% with chartplotters leading the growth
AUTO OEM DECLINE - Revenue decreased 3% due to legacy programs ending, partially offset by growth in BMW program
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $2.12 bln | $2.02 bln (4 Analysts) |
Q4 Pro forma EPS | $2.79 | ||
Q4 EPS | $2.73 | ||
Q4 Net Income | Beat | $528.68 mln | $460.27 mln (3 Analysts) |
Q4 Gross Margin | 59.20% | ||
Q4 Operating income | Beat | $614.15 mln | $530.78 mln (4 Analysts) |
Q4 Pretax Profit | $635.39 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 $215.57, about 0.7% below its February 17 closing price of $216.98
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago
Press Release: ID:nPnhLp5ra
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(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.)