===Garmin (GRMN) reported earnings on Wed 30 Oct 24 (b/o)

 

Garmin Smashes Third-Quarter Views

Garmin (GRMN), a maker of devices for outdoor recreation, fitness and navigation, on Wednesday handily beat analyst estimates for the third quarter and raised its outlook for the full year. Garmin stock rocketed on the news.

The Olathe, Kan.-based company earned an adjusted $1.99 a share on sales of $1.59 billion in the September quarter. Analysts polled by FactSet had expected earnings of $1.45 a share on sales of $1.44 billion. On a year-over-year basis, Garmin earnings rose 41% while sales increased 24%.

For the full year, Garmin now expects to earn an adjusted $6.85 a share on sales of $6.12 billion. Wall Street was modeling earnings of $6.10 a share on sales of $5.99 billion.

Its guidance implied fourth-quarter adjusted earnings of $1.86 a share on sales of $1.65 billion. Analysts were looking for Q4 earnings of $1.65 a share on sales of $1.63 billion.

Garmin's third-quarter results were fueled by a 31% increase in fitness device sales, which totaled nearly $464 million in the period.

=Garmin (GRMN) reported earnings on Wed 30 Oct 19 (b/o)

Garmin beats by $0.30, beats on revs; guides FY19 EPS above consensus, revs above consensus

Reports Q3 (Sep) earnings of $1.27 per share, excluding non-recurring items, $0.30 better than the S&P Capital IQ Consensus of $0.97; revenues rose 15.4% year/year to $934.38 mln vs the $869.02 mln S&P Capital IQ Consensus.

Co issues upside guidance for FY19, sees EPS of approx $4.15 vs. $3.96 S&P Capital IQ Consensus and vs prior guidance of approx $3.90; sees FY19 revs of approx $3.65 bln, excluding non-recurring items, vs. $3.60 bln S&P Capital IQ Consensus and prior guidance of approx $3.60 bln.

-=Garmin (GRMN) reported earnings on Wed 20 Feb 2019 (b/o)

Garmin beats by $0.22, beats on revs; guides FY19 EPS above consensus, revs above consensus

• Reports Q4 (Dec) earnings of $1.02 per share, $0.22 better than the S&P Capital IQ Consensus of $0.80; revenues rose 3.9% year/year to $932.11 mln vs the $893.14 mln S&P Capital IQ Consensus.
  • Gross margin improved to 58.9% from 56.1% one year ago while operating margin improved to 23.9% from 20.4% one year ago
• Co issues upside guidance for FY19, sees EPS of $3.70 vs. $3.52 S&P Capital IQ Consensus; sees FY19 revs of $3.50 bln vs. $3.43 bln S&P Capital IQ Consensus.
  • Gross margin expected around 59.5% and operating margin expected around 22.7%

Earnings this week : Feb. 18 - 22, 2019 (wk 8)

Earnings confirmed to report this week:

Monday (Feb 18) 

• (Holiday) U.S. Market Closed

Tuesday (Feb 19)

• Morning: AAP ALLE WTR AAWW CLR CTB CEQP ECL FELE FDP GDI GPC HLX HIMX HEP HOLI JELD LDOS DOOR MDT NEO NBL SAGE SCI SITE TTS TSEM RIG USAC WMT
• Afternoon: ACC AWK CDNS CRMT CXW DVN  FIVN HLF HST HSTM HVT INST KAR KRG LC LMAT LNTH LZB NTB NVTA RARE SSTI TILE TVTY TXRH VRSK WIRE

Wednesday (Feb 20)

• Morning: ADI AROC BHC BDC CNDT CVS ETR FMS GCI GRMN GEL GVA HSIC HFC IPHS I LAMR NI OMI OC QUAD SAH SO TRGP VNTR VPG WIX WWW
• Afternoon: A ALB ATR AXTI CAI CAKE CAR  CBLK CDE CECO CHE CLI CONE CUTR CYH FLS FTI GDDY GDOT GHDX IAG ICLR INOV IVR JACK KALU LASR LOPE MANT MMI NDSN NE NTES NUVA O OR PAAS PEGA PI QEP RGR ROG RPT SAM SEDG TMST TRN TSLX TYL UFPI VIPS VMI WK WPG WPX WRI XEC Y

Thursday (Feb 21)

• Morning:  BRC DIN DLPH DPZ FND GIL GOGO HL HRL ITGR NCLH NEM PLAB PWR RGEN ROCK RS SFM SGMs STOR TFX VG WEN
• Afternoon:  AAOI ACIA ADSW AL AMH ANIK APPN ATUS BEAT BIDU BJRI BMRN BOOM BYD CASA CATM CBPX CENX CHSP COLD CUBE CWST CZR DBX DXCM EBS ECOL ED EGO  ENV EVRG EXAS FIX FLR FSLR GMED HALO HCC HPE HTGC INFN INT INTU IQ KEYS KHC LNT LPSN MATX MDRX NCMI NVRO OLED PAGS PBA PE PRA RMAX ROKU SBAC SEM SSRM STMP SWM TGH TTD TXMD UCTT VERI VLRS XOG

Friday (Feb 22)

• Morning: AN ASIX B CNK COG COT ERF ETM HMSY ITT MGA MNTA PNW RCM RUTH RY TDS TVPT USM W WPC

-=Garmin (GRMN) reported earnings on Wed 21 Feb 2018 (b/o)

SCHAFFHAUSEN, Switzerland (AP) _ Garmin Ltd. (GRMN) on Wednesday reported fourth-quarter net income of $138.8 million.

The Schaffhausen, Switzerland-based company said it had net income of 73 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, came to 79 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The maker of personal navigation devices posted revenue of $888.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $873.3 million.

For the year, the company reported profit of $695 million, or $3.68 per share. Revenue was reported as $3.09 billion.

Garmin expects full-year earnings to be $3.05 per share, with revenue expected to be $3.2 billion.

Garmin shares have risen nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 2 percent. The stock has climbed 28 percent in the last 12 months.

=Garmin (GRMN) reported earnings on Wed 22 Feb 2017 (b/o)

Garmin beats by $0.15, beats on revs; guides FY17 EPS in-line, revs above consensus  :

• Reports Q4 (Dec) pro forma earnings of $0.73 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus of $0.58; revenues rose 10.2% year/year to $860.8 mln vs the $794.75 mln Capital IQ Consensus.
• Co issues guidance for FY17, sees EPS of $2.65 vs. $2.65 Capital IQ Consensus Estimate; sees FY17 revs of $3.02 bln vs. $2.97 bln Capital IQ Consensus Estimate.
• Gross margin improved to 54.7% compared to 52.9% in the prior year quarter. Operating margin of 18.6% compared to 18.7% in the prior year quarter.
• Operating income growth of 10%.
• Guidance Details: "We expect 2017 revenue of approximately $3.02 billion as growth in outdoor, fitness, marine and aviation is offset by ongoing declines in the PND market. We expect gross margins to be approximately 56%, relatively flat to the prior year. Operating margin is expected to be approximately 20%. With a pro forma expected tax rate of approximately 22%, we currently forecast 2017 pro forma EPS of approximately $2.65."

=Garmin (GRMN) reported earnings on Wed 27 Jul 2016 (b/o)

Garmin beats by $0.18, beats on revs; raises FY16 EPS above consensus, revs above consensus :

• Reports Q2 (Jun) earnings of $0.87 per share, $0.18 better than the Capital IQ Consensus of $0.69; revenues rose 4.9% year/year to $811.6 mln vs the $763.93 mln Capital IQ Consensus.
• Co raises guidance for FY16, sees EPS of ~$2.50 vs. $2.30 Capital IQ Consensus Estimate, up from prior guidance of ~$2.25; sees FY16 revs of ~$2.9 bln vs. $2.84 bln Capital IQ Consensus Estimate, up from ~$2.82 bln prior