GRMN
FY2026 Q1 · Calendar Q2 2026
Garmin Ltd.
Garmin delivered a record first quarter with revenue of $1.75 billion, up 14% year over year, beating consensus on both the top and bottom lines. EPS of $2.08 surpassed the $1.84 estimate by 13%, while revenue exceeded estimates by approximately 1.7%. The Fitness segment was the standout, growing 42% on strong wearable demand, complemented by double-digit growth in Aviation and Marine. The Outdoor segment saw a modest year-over-year decline but management expects a rebound in the second half of 2026. Operating margin expanded to 24.6%, aided by favorable currency effects and cost discipline. The company maintained its full-year guidance, signaling confidence in the trajectory despite component cost pressures and a transitional period in its Auto OEM segment ahead of the Mercedes-Benz program ramp in 2027. The stock rose roughly 2.1% on the report but subsequently drifted down about…
EPS surprise+13.0%
Market move+2.1%
