Financial Data and Key Metrics Changes - Consolidated revenue increased by 11% to $1.54 billion, setting a new first-quarter record, with gross and operating margins at 57.6% and 21.7% respectively, leading to record operating income of $333 million, up 12% year over year [4][17] - Pro forma EPS rose by 13% year over year to $1.61, while GAAP EPS was reported at $1.72 [17][4] Business Segment Data and Key Metrics Changes - **Fitness Segment**: Revenue increased by 12% to $385 million, driven by strong demand for advanced wearables, with operating income of $78 million and gross margin of 57.2% [10][11] - **Outdoor Segment**: Revenue surged by 20% to $438 million, with operating income of $129 million and gross margin of 64.2% [12] - **Aviation Segment**: Revenue grew by 3% to $223 million, with operating income of $48 million and gross margin of 75% [13][14] - **Marine Segment**: Revenue decreased by 2% to $319 million, with operating income of $87 million and gross margin of 58.2% [15] - **Auto OEM Segment**: Revenue increased by 31% to $169 million, with a gross margin of 18% and a narrowed operating loss of $9 million [16] Market Data and Key Metrics Changes - Revenue growth by geography showed 23% growth in EMEA, 9% in APAC, and 4% in the Americas [18] - Approximately 40% of revenue is generated in non-U.S. Dollar currencies, benefiting from a weaker U.S. Dollar [9][21] Company Strategy and Development Direction - The company is adapting to a dynamic global trade environment, with a focus on mitigating tariff impacts and maintaining a diversified business model [5][10] - New product launches, such as Garmin Connect Plus and the Vivoactive six smartwatch, are part of the strategy to enhance customer engagement and drive revenue growth [11][12] Management's Comments on Operating Environment and Future Outlook - Management noted a modest reduction in demand due to the current trade environment, but emphasized strong product lines and a resilient business model [10][9] - The company is maintaining its revenue growth estimates for various segments, with a cautious outlook on potential demand shifts [10][14] Other Important Information - The company updated its full-year 2025 guidance, estimating revenue of approximately $6.85 billion, reflecting favorable foreign currency impacts and modest demand weakening [21][22] - The effective tax rate for the quarter was reported at 14.5%, down from 15.6% in the prior year [20] Q&A Session Summary Question: Demand trends across segments and inventory building - Management indicated no signs of weakness in demand, with strong sell-through rates and no overstocking observed [25][26] Question: Launch timing of Garmin Connect Plus - The decision to launch was driven by advancements in AI-based insights, with positive initial customer reception [28][30] Question: Disaggregation of demand weakness versus FX tailwinds - Management refrained from providing specific figures but acknowledged a modest decrease in demand while highlighting FX benefits [35][38] Question: Mitigation strategies for tariffs - Management is evaluating various mitigation strategies on a case-by-case basis, including sourcing actions and pricing adjustments [40][42] Question: Marine segment promotional timing - The decrease in marine revenue was attributed to the timing of promotions, with expectations of a ripple effect into the second quarter [49][50] Question: Consumer demand outlook for the second half - Management remains cautiously optimistic, factoring in potential softness but noting strong current demand [55][56] Question: Subscription and software revenue reporting - Subscription revenue will be reported separately once it reaches 10% of consolidated revenue [71][72] Question: Impact of tariffs on aviation products - The impact is limited as most aviation manufacturing occurs in the U.S., though some materials are sourced internationally [84]

Financial Data and Key Metrics Changes - Consolidated revenue increased by 11% to $1,540,000,000, setting a new first-quarter record, with gross and operating margins at 57.6% and 21.7% respectively, leading to record operating income of $333,000,000, up 12% year over year [4][17] - Pro forma EPS rose by 13% year over year to $1.61, while GAAP EPS was reported at $1.72 [17] Business Segment Data and Key Metrics Changes - **Fitness Segment**: Revenue increased by 12% to $385,000,000, with operating income of $78,000,000 and margins at 57.2%. The segment is expected to grow by 15% for the year due to strong demand for advanced wearables [10][11] - **Outdoor Segment**: Revenue grew by 20% to $438,000,000, with operating income of $129,000,000 and margins at 64.2%. The segment is expected to maintain a 10% growth estimate for the year [12][13] - **Aviation Segment**: Revenue increased by 3% to $223,000,000, with operating income of $48,000,000 and margins at 21.5%. The growth estimate for 2025 remains at 5% [13][14] - **Marine Segment**: Revenue decreased by 2% to $319,000,000, with operating income of $87,000,000 and margins at 58.2%. The segment is expected to be flat for 2025 [15] - **Auto OEM Segment**: Revenue surged by 31% to $169,000,000, with a narrowed operating loss of $9,000,000. The growth estimate for 2025 is maintained at 7% [16] Market Data and Key Metrics Changes - Revenue growth by geography showed 23% growth in EMEA, 9% in APAC, and 4% in the Americas [18] - Approximately 40% of revenue is generated in non-U.S. Dollar currencies, benefiting from a weaker U.S. Dollar [8][21] Company Strategy and Development Direction - The company is adapting to a dynamic global trade environment, with a focus on mitigating tariff impacts and maintaining a diversified business model [5][10] - New product launches, including Garmin Connect Plus and the Vivoactive six smartwatch, are part of the strategy to enhance customer engagement and drive revenue growth [11][12] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic despite headwinds from tariffs and economic uncertainty, citing strong product lines and a resilient business model [10][21] - The company has updated its full-year guidance to reflect first-quarter results and current market assessments, estimating revenue of approximately $6,850,000,000 [21][22] Other Important Information - The company is pursuing various mitigation strategies for tariffs, including sourcing adjustments and potential pricing actions [39][60] - Free cash flow for the first quarter was $381,000,000, with expectations of approximately $1,100,000,000 for the full year [19][20] Q&A Session Summary Question: Demand trends across segments and inventory building - Management has not observed any significant weakness in demand, with strong sell-through rates and no indication of retailers overstocking [25][26] Question: Launch timing of Garmin Connect Plus - The decision to launch Connect Plus was driven by advancements in AI and a strong user base, with positive initial reception [28][29] Question: Disaggregation of demand weakness and FX tailwinds - Management indicated that while there is a possibility of modest demand reduction, the overall sentiment remains strong [36][37] Question: Mitigation tools for tariffs - The company is evaluating various mitigation strategies on a case-by-case basis, with no significant changes expected in the global footprint [39][41] Question: Marine segment revenue outlook - The decrease in marine revenue is attributed to timing shifts in promotions, with expectations of some impact into the second quarter [48][49] Question: Consumer demand outlook for the second half - Management included a conservative estimate for potential demand softness but noted strong current demand [55][56] Question: Pricing power and potential impacts from tariffs - Pricing actions are being evaluated on a case-by-case basis, with management committed to maintaining market share [59][60] Question: Performance across geographies - EMEA outperformed due to strong growth in wearables, while the Americas were impacted by lower growth in marine and aviation segments [66][67] Question: New product introductions and revenue guidance - The company anticipates significant contributions from new product releases throughout the year [76][77]

Financial Performance - Garmin reported quarterly earnings of $1.61 per share, missing the Zacks Consensus Estimate of $1.65 per share, but showing an increase from $1.42 per share a year ago, representing an earnings surprise of -2.42% [1] - The company posted revenues of $1.54 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 2%, compared to year-ago revenues of $1.38 billion [2] Market Performance - Garmin shares have lost about 1.1% since the beginning of the year, while the S&P 500 has declined by 5.5% [3] - The current Zacks Rank for Garmin is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $1.89 on revenues of $1.68 billion, and for the current fiscal year, it is $7.87 on revenues of $6.77 billion [7] - The estimate revisions trend for Garmin is mixed, and changes in estimates for the coming quarters and current fiscal year are anticipated following the recent earnings report [6][7] Industry Context - Garmin belongs to the Zacks Electronics - Miscellaneous Products industry, which is currently in the bottom 42% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Garmin's stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8]

Garmin announces first quarter 2025 results Company reports record first quarter operating results and maintains full year EPS guidance Schaffhausen, Switzerland / April 30, 2025 / PR Newswire – Garmin® Ltd. (NYSE: GRMN), today announced results for the first quarter ended March 29, 2025. Highlights for first quarter 2025 include: Outdoor: Revenue from the outdoor segment increased 20% in the first quarter primarily due to growth in adventure watches. Gross and operating margins were 64% and 29%, respective ...

Garmin (GRMN) is scheduled to report first-quarter 2025 results on April 30, before market open.The Zacks Consensus Estimate for Garmin’s first-quarter 2025 earnings is pegged at $1.57 per share, implying a year-over-year increase of 13.4%.Garmin’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 28.51%.The Zacks Consensus Estimate for Garmin’s first-quarter 2025 revenues is pegged at $1.57 billion, suggesting year-over-year growth of 13.37%. ...

Core Viewpoint - Garmin has launched the Instinct® 3 – Tactical Edition, a new tactical smartwatch series featuring advanced durability, battery life, and tactical functionalities designed for various missions [1][3]. Product Features - The Instinct 3 – Tactical Edition includes a metal-reinforced bezel for enhanced durability, a rucking activity profile for training, and built-in LED flashlights for low-light conditions [2][3]. - The AMOLED model offers up to 24 days of battery life in smartwatch mode, while solar-powered models can achieve unlimited battery life [1][10]. - The watch is built to MIL-STD 810 standards for thermal and shock resistance and is water-rated up to 100 meters [3]. Navigation and Tactical Capabilities - Equipped with a 3-axis compass, barometric altimeter, and multi-band GPS with SatIQ™ technology, the watch provides superior positioning while optimizing battery life [5]. - Features like Stealth Mode allow users to turn off wireless communications while still tracking distances and biometric data without revealing location [6]. - The watch includes dedicated tactical features such as a Kill Switch, Jumpmaster, and ballistic solutions compatible with the Applied Ballistics Quantum app [6][7]. Health and Fitness Tracking - The Instinct 3 – Tactical Edition offers 24/7 health monitoring, including steps, heart rate, advanced sleep tracking, and Pulse Ox [5]. - Users can access various sports apps for activities like rucking, hiking, running, and more, with TracBack® routing to help navigate back to starting points [8][9]. Pricing and Availability - The Instinct 3 – Tactical Edition AMOLED model is priced at $599.99, while solar charging models start at $499.99, available for order on April 30 [10].

Core Viewpoint - Garmin (GRMN) is highlighted as a strong candidate for investors due to its consistent performance in beating earnings estimates, particularly in the upcoming quarterly report [1]. Earnings Performance - Garmin has a solid track record of exceeding earnings expectations, with an average surprise of 30.26% over the last two quarters [2]. - In the most recent quarter, Garmin reported earnings of $2.41 per share, surpassing the expected $1.94 per share by 24.23%. In the previous quarter, it reported $1.99 per share against an estimate of $1.46 per share, resulting in a surprise of 36.30% [3]. Earnings Estimates and Predictions - Recent estimates for Garmin have been increasing, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of another earnings beat [6]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [7]. - Garmin's current Earnings ESP stands at +2.88%, suggesting that analysts are optimistic about the company's earnings prospects [9]. Earnings Release Information - The next earnings report for Garmin is anticipated to be released on April 30, 2025 [9].

Crime & SafetyWatch: Woman Clings In 'Death Grip' To Cliffside Below Pacific Crest Trail In RivCoVideo shows the woman, who clung to the mountain for about an hour, awaiting helicopter rescue from the precarious spot in Riverside County.The Rescue 9 helicopter crew managed a complex rescue of a hiker trapped just below the mountain ridge at the Whitewater Trail portion of the Pacific Crest Trail. (Photo Credit: Riverside County Sheriff's Department Rescue 9)INLAND EMPIRE, CA — The Riverside County Sheriff's ...

Company Overview - Garmin (GRMN) shares increased by 11% to close at $192.71, following a broader market rally influenced by US President Donald Trump's announcement regarding tariffs [1] - The stock had previously experienced an 18.6% loss over the past four weeks [1] Earnings Expectations - Garmin is expected to report quarterly earnings of $1.62 per share, reflecting a year-over-year increase of 14.1% [2] - Revenue projections stand at $1.55 billion, which is a 12% increase compared to the same quarter last year [2] Stock Performance and Trends - The consensus EPS estimate for Garmin has remained unchanged over the last 30 days, indicating a lack of upward momentum in earnings estimate revisions [3] - The stock currently holds a Zacks Rank of 2 (Buy), suggesting positive sentiment among analysts [3] Industry Comparison - Garmin operates within the Zacks Electronics - Miscellaneous Products industry, where another company, Timken (TKR), saw a 10.9% increase in its stock price, closing at $63.61 [3] - Timken's consensus EPS estimate has decreased by 1.8% over the past month, with a year-over-year change of -18.6%, and it currently holds a Zacks Rank of 4 (Sell) [4]

Core Points - Garmin has launched the Varia™ Vue headlight camera, designed to enhance safety and visibility for cyclists with a 4K camera and a 600-lumen headlight [1][2][3] - The device automatically saves video footage if an incident is detected, providing cyclists with peace of mind during their rides [3][4] - Varia Vue features a smart headlight that adjusts light intensity based on speed and surroundings, and it includes a cutoff beam to protect oncoming traffic's vision [4][9] Product Features - The Varia Vue camera records sharp 4K video with Electronic Image Stabilization and can upload footage to Garmin Vault for secure storage [3][9] - It offers up to 7 hours of battery life in day flash mode with recording and up to 9 hours when the headlight is off, and can be used while charging [9] - The device is priced at $549.99 and is currently available for purchase [6] Market Positioning - Garmin aims to provide cyclists with innovative tools that enhance their riding experience and safety, reinforcing its commitment to developing technology for active lifestyles [7]