Garmin Reports Record Q3 Results with 12% Revenue Growth
Garmin Ltd. (GRMN) reported record-breaking financial results for the third quarter, driven by a 12% increase in consolidated revenue to nearly $2 billion. The company achieved a strong gross margin of 63.3%, which CEO Clifton Pemble attributed primarily to a favorable segment mix. Looking ahead, Garmin has provided guidance anticipating $8.15 billion in revenue and $10.80 pro forma earnings per share (EPS) for fiscal year 2026. However, management noted that rising memory costs may present challenges to future margins.
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