Garmin Ltd.: Beat — EPS $2.76, Revenue $1.99B
Earnings BeatQ3 2026 · Pre-market
Did Garmin Ltd. (GRMN) beat earnings today?
Yes, Garmin Ltd. (GRMN) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+15.97% surprise
$2.76Actual
Expected: $2.38
vs. year ago +39.0%
Total Revenue+0.31% surprise
$1.99BActual
Expected: $1.98B
vs. year ago +12.0%
Released Oct 28 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $1.99B | $1.77B | +12.0 |
| Revenue detail — reported lines | |||
| └─Fitness | $694.33M | $601.01M | +16.0 |
| └─Outdoor | $597.30M | $497.60M | +20.0 |
| └─Aviation | $252.66M | $240.44M | +5.0 |
| └─Marine | $309.88M | $267.00M | +16.0 |
| └─Auto OEM | $131.91M | $164.84M | -20.0 |
| └─Americas | $913.08M | $795.62M | +15.0 |
| └─EMEA | $778.02M | $692.56M | +12.0 |
| └─APAC | $294.97M | $282.72M | +4.0 |
| GAAP Basic EPS | $2.81 | $2.09 | - |
| GAAP Diluted EPS | $2.80 | $2.08 | +35.0 |
| Pro forma Basic EPS | $2.77 | $2.00 | - |
| Pro forma Diluted EPS | $2.76 | $1.99 | +39.0 |
| Net Income | $541.66M | $401.62M | +34.9 |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Revenue | — | ~$8.15B |
| Pro forma EPS | — | $10.80 |
| Gross Margin | — | 61.0% |
| Operating Margin | — | 29.0% |
Business Highlights
- ➤Named 2026 Manufacturer of the Year by NMEA for the 12th consecutive year.
- ➤Received six Product of Excellence awards from the National Marine Electronics Association.
- ➤Launched fēnix 9 and fēnix 9 Pro adventure watch series.
- ➤Delivered the 1,000th G1000 King Air integrated flight deck retrofit.
- ➤More than 2,500 aircraft are equipped with Garmin Autoland.
- ➤Launched the screenless CIRQA Smart Band wellness and fitness wearable.
- ➤Announced Edge 1060 and Edge Explore 3 cycling computers.
- ➤Unveiled the G2000 PRIME flight deck for piston and electric aircraft.
- ➤Pilatus and Epic Aircraft certified Garmin Autoland on additional aircraft.
- ➤Launched LiveScope 2 with improved live-sonar range and clarity.
- ➤Expanded sailboat offerings with GMI 40 and SmartDrive products.
- ➤Repurchased $41 million of shares; approximately $407 million remained authorized.
Management Commentary
Cliff Pemble, President and Chief Executive Officer of Garmin Ltd.
“We achieved another quarter of record operating results driven by strength across markets and product categories, with meaningful contributions from recently launched products. Our results were further enhanced by strong operational execution resulting in record consolidated gross margin and impressive operating profit leverage. We are raising our 2026 outlook based on the results we have achieved so far and the momentum we are experiencing as we enter the important holiday selling season.”