Core Insights - Garmin reported a Q4 2025 earnings beat with pro forma EPS of $2.79, exceeding the consensus estimate of $2.40 by 16% [1] - Revenue for Q4 reached $2.12 billion, marking a 16.6% year-over-year increase, with record revenue across all five business segments [1] - The company raised its dividend by 17% to $4.20 per share and announced a new $500 million share repurchase program [1] Financial Performance Highlights - Q4 2025 Revenue: $2.12 billion, up 16.6% from $1.82 billion in Q4 2024 [1] - Q4 2025 Net Income: $528.7 million, a 21.3% increase from $435.7 million in Q4 2024 [1] - Full-Year 2025 EPS: $8.56, reflecting a 16% year-over-year growth [1] - Operating Margin: 28.9%, an increase of 60 basis points from the previous year [1] Segment Performance - Fitness Segment Revenue: $765.8 million, up 42% due to strong demand and market share gains [2] - Marine Segment Revenue: $296.9 million, an 18% increase driven by growth in electronics [2] - Aviation Segment Revenue: $274.2 million, up 16% due to continued demand [2] - Outdoor Segment Revenue: $627.6 million, flat year-over-year [2] - Auto OEM Segment Revenue: $160.4 million, a 3% increase despite the wind-down of legacy programs [2] Guidance and Outlook - Garmin projects FY2026 revenue of approximately $7.9 billion, representing a 9% growth over 2025 [1] - Expected pro forma EPS for FY2026 is around $9.35, continuing the trend of double-digit earnings expansion [1] - Key assumptions include an effective tax rate of 16.0% and an operating margin of 25.5% [1] Capital Actions - The company announced a 17% increase in its dividend to $4.20 per share, pending shareholder approval [1] - A new $500 million share repurchase program has been authorized, replacing a previous $300 million program [1]