Garmin Posts Record Q2 2026 Results and Lifts Full-Year Outlook
GRMN sits 44% above its 52-week low of $186.67.
Summary
Record Q2 2026 revenue of $2.02B and operating income of $616M, raised full-year guidance, and broad-based strength across fitness, marine, and aviation segments.
Key Events · Earnings and Guidance · GRMN
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Record Q2 Revenue and Profit
Consolidated revenue reached $2.02 billion, up 11% year-over-year, while operating income surged 30% to $616 million. GAAP diluted EPS came in at $2.80, and pro forma EPS rose 29% to $2.81.
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Raised Full-Year 2026 Guidance
Management now projects full-year revenue of approximately $8.05 billion and pro forma EPS of $10.00, up from prior guidance, based on a gross margin of 59.7% and an operating margin of 27.0%.
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Broad-Based Segment Strength
Fitness revenue grew 25% to $757 million, generating $277 million in operating income. Marine revenue rose 14% to $341 million, and Aviation increased 8% to $269 million. The Auto OEM segment turned profitable, posting $3 million in operating income.
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Strong Cash Generation and Capital Returns
Operating cash flow reached $404 million in Q2, with free cash flow of $276 million. The company repurchased $43 million of shares and paid $202 million in dividends. Cash and marketable securities totaled $4.4 billion.
Analysis · GRMN · Manufacturing
A standout quarter saw revenue climb 11% to $2.02 billion and operating income jump 30% to $616 million—both records. Gross margins widened sharply to 62.4%, helped by a favorable product mix and tariff refunds. The fitness segment led the charge with 25% revenue growth, while marine and aviation also delivered strong gains. Reflecting confidence in sustained momentum, management raised full-year guidance to $8.05 billion in revenue and $10.00 in pro forma EPS. The balance sheet remains fortress-like, with $4.4 billion in cash and marketable securities, and the company continues to return capital through dividends and buybacks. This earnings beat and guidance raise reinforce Garmin's position as a diversified tech leader executing across all segments.
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In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, GRMN was trading at $267.88 on NYSE in the Manufacturing sector, with a market capitalization of approximately $48.9B. The 52-week trading range was $186.67 to $273.32. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.