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Garmin (GRMN)
NYSE:GRMN
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.98Last Year’s EPS
$1.72Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 26.13%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
Garmin delivered strong financial results with record-breaking revenue and robust growth across all segments. Significant improvements in margins and market share gains, particularly in wearables, highlight the company's strong positioning. However, challenges in the Aviation segment and a softer outlook for Auto OEMs present some concerns. Overall, the positive aspects significantly outweigh the negatives.Company Guidance
During Garmin's Q3 2024 earnings call, the company updated its full-year guidance based on strong performance across its business segments. Consolidated revenue increased by 24% year-over-year to $1.59 billion, with record revenue achieved in all five business segments. The gross margin expanded by 300 basis points to 60%, while operating income surged by 62% year-over-year, resulting in an operating margin of 27.6%. Garmin's pro forma EPS rose by 41% to $1.99. The company raised its full-year 2024 revenue guidance to approximately $6.12 billion and anticipates a pro forma EPS of $6.85. Segment highlights included Fitness revenue growth of 31% and Outdoor revenue growth of 21%, with both segments experiencing significant margin improvements. The Marine segment also showed a 22% increase in revenue, driven by new product introductions and market share gains, while the Auto OEM segment saw a 53% revenue increase. Despite challenges in the broader market, Garmin remains confident in its diversified product portfolio and global reach.Record-Breaking Revenue and Growth
Consolidated revenue increased 24% to $1.59 billion, a new third quarter record, with record revenue in all 5 business segments.
Strong Segment Performance
Fitness segment revenue increased 31%, Outdoor segment revenue increased 21%, and Marine segment revenue increased 22%. Auto OEM segment saw the highest growth at 53%.
Improved Margins
Gross margin expanded 300 basis points to 60%, and operating margin expanded 640 basis points to 27.6%.
Market Share Gains
Garmin's global market share in advanced wearables increased over 200 basis points year-over-year.
Updated Full Year Guidance
Full year 2024 revenue guidance increased to $6.12 billion, with a pro forma EPS of $6.85.
Strong Cash Position
Ended the quarter with cash and marketable securities of approximately $3.5 billion.
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GRMN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GRMN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $165.69 | $204.21 | +23.25% |
| Jul 31, 2024 | $177.98 | $169.95 | -4.51% |
| May 01, 2024 | $142.70 | $161.42 | +13.12% |
| Feb 21, 2024 | $120.65 | $131.30 | +8.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Garmin (GRMN) report earnings?
Garmin (GRMN) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Garmin (GRMN) earnings time?
Garmin (GRMN) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GRMN EPS forecast?
GRMN EPS forecast for the fiscal quarter 2024 (Q4) is $1.98.
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