Group 1 - The article discusses Garmin Ltd.'s Q4 2024 earnings results, indicating a significant moment to evaluate the company's performance in the wearable technology sector [1] - The author emphasizes the importance of exploring new investment ideas, particularly in the context of Garmin's recent financial disclosures [1] Group 2 - There is no additional relevant content regarding the company or industry in the provided documents [2]

Garmin Ltd. (GRMN) reported fourth-quarter 2024 pro forma earnings of $2.41 per share, beating the Zacks Consensus Estimate by 24.2%. The bottom line improved 40.1% on a year-over-year basis.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Net sales were $1.82 billion, which surpassed the Zacks Consensus Estimate of $1.68 billion with a surprise of 8.3%. The figure increased 22.9% from the year-ago quarter.GRMN’s year-over-year growth in the top line was attributed to the solid momentu ...

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Key TakeawaysThe S&P 500 gained 0.2% on Wednesday, Feb. 19, to hit an all-time high for the second straight session as investors focused on Fed meeting minutes and shook off tariff proposals.Garmin shares surged after the GPS device maker reported better-than-expected results on strong sales in its fitness, auto and outdoor segments. Specialty chemical maker Celanese plummeted after reporting operating losses that the company forecasted were likely to continue into coming quarters. Major U.S. equities index ...

Financial Data and Key Metrics Changes - Consolidated revenue increased 23% to $1.82 billion in Q4 2024, setting a new fourth-quarter record, with record revenue achieved in all five business segments [7][34] - Gross margin expanded 100 basis points to 59%, and operating income increased 52% year-over-year to 28% [8][35] - Pro forma EPS was $2.41, up 40% over the prior year [8][35] - For the full year 2024, total revenue was $6.3 billion, a 20% increase year-over-year, with gross margin at nearly 59% [10][36] Business Segment Data and Key Metrics Changes - **Fitness Segment**: Revenue increased 32% to $1.77 billion, with operating income more than doubling to $483 million and operating margin expanding to 27% [14][35] - **Outdoor Segment**: Revenue increased 16% to $1.96 billion, with operating income exceeding $700 million and operating margin expanding to 36% [16][35] - **Aviation Segment**: Revenue increased 4% to $877 million, but operating income decreased 7% to $211 million due to increased R&D spending [20][35] - **Marine Segment**: Revenue increased 17% to nearly $1.1 billion, with operating income increasing 32% year-over-year [25][35] - **Auto OEM Segment**: Revenue increased 44% to $611 million, with a narrowed operating loss of $39 million [29][35] Market Data and Key Metrics Changes - By geography, consolidated revenue growth was led by EMEA with 34%, followed by APAC with 18%, and the Americas with 17% in Q4 2024 [38][39] - For the full year 2024, EMEA achieved 31% growth, the Americas 16%, and APAC 12% [39] Company Strategy and Development Direction - Garmin plans to launch many new products in 2025, including entries into new categories, anticipating consolidated revenue to increase approximately 8% to $6.8 billion [12][46] - The company aims to maintain strong growth in the fitness and outdoor segments while strategically focusing on new product categories and market penetration [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong performance in 2024, attributing it to a robust product portfolio and market share gains, particularly in wearables [9][53] - The company acknowledged the softening outlook for major automakers affecting the auto OEM segment but remains focused on achieving profitability in the future [30][76] Other Important Information - Garmin proposed an annual dividend of $3.60 per share, reflecting a 20% increase over the prior dividend amount [12][43] - The company generated free cash flow of approximately $1.2 billion for the full year 2024, with expectations of around $1.1 billion for 2025 [41][42] Q&A Session Summary Question: Key drivers for the fitness segment's performance - Management noted broad-based growth across product lines, with new customers contributing significantly to results and a positive outlook for 2025 [50][53] Question: Operating margin guidance - Management explained that the expected operating margin reflects increased R&D investments for growth, with SG&A expected to remain flat as a percentage of sales [56][58] Question: EMEA market performance - Management attributed EMEA's success to strong performance in wearables and a solid consumer market presence [65][66] Question: Auto OEM segment profitability - Management indicated a target of mid-teens gross margin and mid-single digits operating margin, with expectations for future growth driven by new business wins [67][70] Question: Impact of tariffs - Management acknowledged potential exposure to tariffs but believes they are well-positioned to minimize impacts [104][106] Question: Consumer backdrop and sell-through dynamics - Management reported healthy sell-in and sell-through levels, with strong product registrations and a generally positive consumer response [91][94] Question: Lower product costs - Management highlighted increased production efficiency and scale benefits as key factors in lower product costs [99][100] Question: Feedback on new products - Management received positive feedback on new high-priced products, indicating broad interest across various customer segments [111][115]

GPS device maker Garmin (GRMN 13.92%) has been a real winner for investors. After another stellar earnings report today, the stock has nearly doubled in the last 12 months. The fourth-quarter results along with management's 2025 guidance have shares soaring again today.Garmin stock was trading up by 12.6% as of 11:30 a.m. ET, near the morning's highs.Garmin blasts past guidanceIt was a strong fourth quarter by every measure, and it closed out a year with results overachieving even the company's internal gui ...

Q4 2024 Earnings February 19, 2025 Safe Harbor Statement These materials include projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as "anticipates," "would," "may," "expects," "estimates," "plans," "intends," "projects," and other words or phrases with similar meanings. Any statements regarding the Company's expected fiscal 2025 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company's expected segme ...

For the quarter ended December 2024, Garmin (GRMN) reported revenue of $1.82 billion, up 22.9% over the same period last year. EPS came in at $2.41, compared to $1.72 in the year-ago quarter.The reported revenue represents a surprise of +8.39% over the Zacks Consensus Estimate of $1.68 billion. With the consensus EPS estimate being $1.94, the EPS surprise was +24.23%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

Garmin delivered a strong fourth-quarter performance with significant revenue and profit growth, surpassing market expectations.Garmin (GRMN 11.04%), known for its leadership in GPS technology across varied segments like fitness, outdoor, aviation, marine, and automotive, released its fourth-quarter 2024 earnings on Feb. 19. The results certainly turned heads, with Garmin posting revenue of $1.82 billion compared to the expected $1.70 billion. This signifies a notable 23% increase year-on-year. The Pro Form ...

Garmin (GRMN) came out with quarterly earnings of $2.41 per share, beating the Zacks Consensus Estimate of $1.94 per share. This compares to earnings of $1.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.23%. A quarter ago, it was expected that this maker of personal navigation devices would post earnings of $1.46 per share when it actually produced earnings of $1.99, delivering a surprise of 36.30%.Over the last four qu ...