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Garmin (GRMN)
NYSE:GRMN
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.62Last Year’s EPS
1.42Same Quarter Last Year
Moderate Sell
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 19, 2025
|% Change Since: 12.64%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Positive
Garmin reported strong financial results with record revenue and growth across all segments, significant margin expansion, and a notable dividend increase. However, challenges remain in the aviation and auto OEM segments, with a higher effective tax rate impacting profitability.Company Guidance
During Garmin Ltd.'s fourth quarter 2024 earnings call, the company reported strong financial performance metrics, including a 23% year-over-year increase in consolidated revenue to a record $1.82 billion, with growth seen across all five business segments. Gross margin improved by 100 basis points to 59%, and operating income rose by 52% to reach 28%. The pro forma EPS increased by 40% to $2.41. For 2024, Garmin achieved a 20% increase in consolidated revenue to $6.3 billion, with an operating income of $1.6 billion and an operating margin of 25%. Looking ahead to 2025, Garmin anticipates an 8% revenue increase to $6.8 billion and proposes a 20% increase in its annual dividend to $3.60 per share. The company also expects fitness, outdoor, and marine segments to grow by approximately 10%, 10%, and 4% respectively, while aviation and auto OEM segments are projected to grow by 5% and 7%. Garmin plans to invest in growth, with $350 million in capital expenditures expected for 2025, alongside a projected free cash flow of approximately $1.1 billion.Record-Breaking Revenue and Growth
Garmin delivered a consolidated revenue increase of 23% to $1.82 billion for Q4 2024, setting a new fourth-quarter record. For the full year, consolidated revenue increased 20% to $6.3 billion.
Strong Performance Across All Segments
Each of Garmin's five business segments achieved growth and record revenue. Fitness revenue increased 32%, outdoor revenue increased 16%, marine revenue grew 17%, and auto OEM revenue surged by 44%.
Significant Margin Expansion
Gross margin expanded by 100 basis points to 59% in Q4 2024, and operating income increased 52% year-over-year, resulting in a 28% operating margin.
Dividend Increase
Garmin proposed an annual dividend of $3.60 per share, reflecting a 20% increase over the prior dividend.
Notable Product Launches
New product launches included the Lilly 2 Active GPS smartwatch and the Descent X50i dive computer, which have been well-received in their respective markets.
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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 |
|---|---|---|---|
| Feb 19, 2025 | $214.78 | $241.93 | +12.64% |
| 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% |
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 Apr 30, 2025, TBA Not Confirmed.
What is Garmin (GRMN) earnings time?
Garmin (GRMN) earnings time is at Apr 30, 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 2025 (Q1) is 1.62.
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