Garmin Ltd. · GRMN · Next earnings

Garmin Ltd. reports Wednesday, Nov 4, 2026

GRMN reports before market open with consensus EPS at $2.38 and revenue at $1.99B. Last quarter: Garmin Q1 2026: Record Revenue Beats on 42% Fitness Surge, Guidance Maintained

Reports Before market open45 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $2.38 Calendar consensus
Consensus revenue $1.99B Calendar consensus
Report date Nov 4, 2026 Wednesday, date estimated
Session Before market open 45 days away

Where GRMN left off: FY2026 Q1

Full report

Garmin Q1 2026: Record Revenue Beats on 42% Fitness Surge, Guidance Maintained

EPS surprise +13.0% Reported $2.08 vs $1.84
Revenue surprise +1.7% Reported $1.75B vs $1.72B
Stock move +2.1% Event window
Subsequent drift -6.6% Up to 20 sessions

Management maintained full-year 2026 guidance, which calls for approximately $7.9 billion in revenue (roughly 9% growth), as previously outlined in the Q4 2025 report when guidance was raised. The maintained stance comes despite a strong Q1 beat, suggesting management is not front-loading improved expectations and remains measured about component cost pressures, Outdoor segment softness, and the Auto OEM transition before the Mercedes-Benz program begins contributing in 2027. This is a shift from the prior quarter's raised guidance posture.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Component cost inflation, particularly memory prices, could pressure margins if safety-stock buffers deplete in 2027.
  • Tariff exposures remain, with limited visibility on potential refund timing.
  • Geopolitical uncertainty, especially oil-price impacts on Marine and Aviation discretionary demand.
  • Auto OEM revenue gap between the BMW wind-down and Mercedes-Benz ramp-up in 2027.
  • Competitive pressure from emerging private wearable companies pursuing subscription-as-a-service models.

Questions analysts left open

  • Trajectory of component cost pressures and timing of their impact on margins.
  • Competitive threats from private wearable firms pursuing subscription-as-a-service models.
  • Revenue cadence for the auto OEM segment during the BMW wind-down and Mercedes ramp-up.
  • Potential magnitude and timing of tariff refunds.
  • Sustainability of growth in the Outdoor segment after a year-over-year decline.

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Recent GRMN quarters

All GRMN earnings
+2.1%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.