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Garmin, which develops navigation equipment and sports watches, among other products, reports revenue in line with expectations for the third quarter. Adjusted earnings per share were better than expected.
Revenue increased 12,2 percent to 1 986 million dollars (1 770). The outcome can be compared with the Factset analyst consensus of 1 989.
Operating profit was 612 million dollars (457), with an operating margin of 30,8 percent (25,8).
Earnings per share amounted to 2,80 dollars (2,08). Adjusted earnings per share were 2,76 dollars (1,99), which is 14,5 percent above the analyst consensus of 2,41.
CEO Cliff Pemble states that the record result was driven by strength across several markets and product categories, with significant contributions from recently launched products. Improved operating efficiency also contributed to the higher profitability.
The company raises its full-year forecast and now expects revenue of approximately 8,15 billion dollars and adjusted earnings per share of 10,80 dollars, versus expectations of 10,19 dollars. The operating margin is expected to amount to 29,0 percent.
Garmin, USD millionQ3-2026ConsensusChange vs consensusQ3-2025ChangeNet sales1 9861 989-0,2%1 77012,2%Adjusted earnings per share, USD2,762,4114,5%1,9938,7%Earnings per share, USD2,802,0834,6%Consensus data from Factset
