Record Q2 Revenue of $2.02B Drives Garmin to Raise Full-Year Outlook
GRMN sits 46% above its 52-week low of $186.67.
Summary
Record Q2 2026 results included $2.02B in revenue and $616M in operating income, prompting Garmin to raise full-year guidance and announce a $500M buyback program.
Updates
· Dow Jones Newswires — Net income rose 35% to $541.9 million, and management raised full-year guidance to $8.05 billion revenue and $10.00 pro forma EPS, above the $8.01 billion and $9.67 analysts expected.
Key Events · Earnings and Guidance · GRMN
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Record Q2 Revenue and Profit
Revenue reached $2.02 billion, an 11% year-over-year increase, while operating income jumped 30% to $616 million. Diluted EPS came in at $2.80.
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Full-Year Guidance Raised
Broad-based strength and confidence in continued growth across all segments led management to increase its 2026 outlook.
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Gross Margin Expansion
Gross margin improved 360 basis points to 62%, helped by favorable product mix and $21 million in tariff refunds. Marine margin notably expanded by 630 bps.
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Fitness Segment Surges 25%
Driven by strong demand for advanced wearables, fitness revenue grew 25% to $757 million, now representing 37% of total sales.
Analysis · GRMN · Manufacturing
A standout quarter saw revenue climb 11% to $2.02 billion while operating income surged 30% to $616 million. Gross margin expanded 360 basis points to 62%, fueled by a favorable product mix and $21 million in tariff refunds. Fitness led the charge with 25% revenue growth, and both Marine and Aviation posted double-digit gains. Reflecting confidence in sustained momentum, management raised full-year guidance. The balance sheet remains fortress-like with $4.4 billion in cash and securities, and a new $500 million buyback program underscores the commitment to capital returns. Adding digital coaching capabilities to the fitness ecosystem, the subsequent acquisition of TrainingPeaks and TrainHeroic further strengthens the platform.
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In the 30 days to Oct 1, 2026, 35.9% of the 1030 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. 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 $272.00 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.