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Garmin

GRMN · Consumer Discretionary

Last earnings Oct 28, 2026

Key results

Revenuequarter

$1.8 billion

revenue of approximately $1.8 billion, a 12% increase compared to the prior year quarter &#x2022

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Record operating incomequarter

$457 million

Record operating income of $457 million, a 4% increase compared to the prior year quarter &#x2022

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Fitness: Revenue from the fitness segment increased 30% in the third quarter with growth led by strong demand for advanced wearables.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Operating incomequarter

$194 million

Gross and operating margins were 60% and 32%, respectively, resulting in $194 million of operating income.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Outdoor: Revenue from the outdoor segment decreased 5% in the third quarter primarily due to consumer auto and adventure watch product categories as we compare against strong prior year product launch cycles.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Gross and operating margins were 66% and 34%, respectively, resulting in $170 million of operating income.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Aviation: Revenue from the aviation segment increased 18% in the third quarter with growth in both the OEM and aftermarket product categories.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Gross and operating margins were 75% and 25%, respectively, resulting in $61 million of operating income.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

AI analysis

Q3 2025 · reported Oct 29, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q3 2025
$1.8B
EX-99 · Oct 29, 2025
Record operating income · Q3 2025
$457M
EX-99 · Oct 29, 2025
Operating income · Q3 2025
$194M
EX-99 · Oct 29, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue$1.8 billion——
Record operating income$457 million——
Operating income$194 million——

EX-99 · Oct 29, 2025

Guidance · company-stated

Direction: Raised

Revenue — Raised

“htm EX-99.1 EX-99.1 EXHIBIT 99.1 Garmin announces third quarter 2025 results Company reports record third quarter revenue and operating income, and raises full year EPS guidance Schaffhausen, Switzerland / October 29, 2025 / PR Newswire – Garmin Ltd.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Dividend$173M

We paid a quarterly dividend of approximately $173 million and repurchased $36 million of the Company’s shares within the quarter, leaving approximately $107 million remaining as of September 27, 2025 in the $300 million share repurchase program authorized through December 2026.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Garmin announces third quarter 2025 results Company reports record third quarter revenue and operating income, and raises full year EPS guidance Schaffhausen, Switzerland / October 29, 2025 / PR Newswire – Garmin Ltd

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue — Raised (“raises”)
“htm EX-99.1 EX-99.1 EXHIBIT 99.1 Garmin announces third quarter 2025 results Company reports record third quarter revenue and operating income, and raises full year EPS guidance Schaffhausen, Switzerland / October 29, 2025 / PR Newswire – Garmin Ltd.”

Classified from the release's primary full-year outlook statement.

Capital allocation

We paid a quarterly dividend of approximately $173 million and repurchased $36 million of the Company’s shares within the quarter, leaving approximately $107 million remaining as of September 27, 2025 in the $300 million share repurchase program authorized through December 2026.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Dividend Recommendation: The Board of Directors has established December 26, 2025, as the payment date for the next dividend installment of $0.90 per share with a record date of December 12, 2025.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

At the 2025 annual shareholders’ meeting, Garmin shareholders, in accordance with Swiss corporate law, approved a cash dividend in the total amount of $3.60 per share, payable in four equal installments on dates to be determined by the Board in its discretion.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

The Board currently anticipates the scheduling of the remaining quarterly dividend installment as follows: Dividend Date Record Date $s per share March 27, 2026 March 13, 2026 $0.90 Webcast Information/Forward-Looking Statements: The information for Garmin Ltd.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Any statements regarding the Company’s expected fiscal 2025 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company’s expected segment revenue growth rates, consolidated revenue, gross margins, operating margins, global trade related impacts, potential future acquisitions, share repurchase programs, currency movements, expenses, pricing, new product launches, market reach, statements relating to possible future dividends, and the Company’s plans and objectives are forward-looking statements.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Free cash flow Management believes free cash flow is an important liquidity measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flows less capital expenditures for property and equipment.

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Risks & headwinds

The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in the Annual Report on Form 10-K for the year ended December 28, 2024 and the Quarterly Report on Form 10-Q for the quarter ended September 27, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118).

SEC original ↗Garmin — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Legal Proceedings 27 Item 1A.

SEC original ↗Garmin — 10-Q Quarterly report10-QOct 28, 2026

Revenue To further depict how the nature, amount, timing and uncertainty of the Company s revenue and cash flows are affected by economic factors, Garmin disaggregates revenue (or net sales ) by geographic region, major product category, and pattern of recognition.

SEC original ↗Garmin — 10-Q Quarterly report10-QOct 28, 2026

The results of legal proceedings, investigations and claims, however, cannot be predicted with certainty.

SEC original ↗Garmin — 10-Q Quarterly report10-QOct 28, 2026

Supreme Court ruled that the tariffs imposed under the International Emergency Economic Powers Act ( IEEPA ) were unauthorized.

SEC original ↗Garmin — 10-Q Quarterly report10-QOct 28, 2026

During the 39-week period ended September 26, 2026, the Company recognized refunds of approximately $ 54 million of previously paid IEEPA tariffs.

SEC original ↗Garmin — 10-Q Quarterly report10-QOct 28, 2026

Documents

Earnings deck slides

0 decks with slide view

Garmin — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Amazon (AMZN) Consumer DiscretionaryTesla, Inc. (TSLA) Consumer DiscretionaryAlibaba Group (BABA) Consumer DiscretionaryeBay Inc. (EBAY) Consumer DiscretionaryToyota Motor (TM) Consumer DiscretionaryO'Reilly Automotive (ORLY) Consumer DiscretionaryLi Auto Inc. (LI) Consumer DiscretionaryV F Corp (VFC) Consumer Discretionary

Filings

65 documents

Earnings releases

33 documents

Presentations

1 document

Transcripts

0 documents

No transcripts for Garmin are held in this edition of the library.

Mentioned by

5 companies

Other tracked companies whose held documents mention Garmin by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.