Garmin Raises FY Guidance After Q2 Profit Surges 35%, Wearables Demand Soars
GRMN sits 46% above its 52-week low of $186.67.
Summary
Garmin delivered a standout Q2, with net income jumping 35% to $541.9M on revenue of $2.02B, both well above consensus. The fitness segment surged 25% on advanced wearables demand, offsetting a modest 2% dip in outdoor. Management raised full-year guidance to $8.05B revenue and $10.00 pro forma EPS, above the $8.01B and $9.67 analysts expected. This follows the recent acquisitions of TrainingPeaks and TrainHeroic, deepening the fitness ecosystem. The stock is trading near its 52-week high, and this beat-and-raise quarter reinforces the growth narrative. Watch for any commentary on the $500M buyback program and integration of the new coaching platforms on the earnings call.
At the time of this announcement, GRMN was trading at $272.99 on NYSE in the Technology sector, with a market capitalization of approximately $48.9B. The 52-week trading range was $186.67 to $273.32. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.