Garmin Reports Record Q3 2026 Results and Raises Full-Year Guidance
Garmin (GRMN) reported record third-quarter results for 2026, with revenue reaching $1.99 billion, a 12% increase year-over-year. Growth was primarily driven by double-digit gains in the fitness, outdoor, and marine segments, supported by successful product launches such as the CIRQA smart ring and Fenix 9 adventure watch series. Driven by strong operational execution and margin expansion, the company raised its full-year 2026 revenue guidance to $8.15 billion and increased its pro forma EPS outlook to $10.80. While the auto OEM segment saw a 20% decline due to declining domain controller programs, overall momentum remains strong heading into the holiday season. Despite the positive results, management noted potential headwinds including rising memory costs for the fourth quarter and challenging market conditions in China affecting APAC growth. The company is currently managing increased inventory levels to mitigate supply chain risks for critical components.
Tickers: $GRMN
Topics: EPS Beat Gross Margin Expansion Guidance Raise Revenue Growth Segment Performance