Core Insights - Garmin reported Q1 2025 revenue growth of 11% to $1.54 billion, exceeding analyst expectations of $1.50 billion [1] - The company's adjusted EPS of $1.61 fell short of the consensus estimate of $1.67 [1] - Garmin raised its fiscal 2025 revenue guidance to $6.85 billion, slightly above the previous estimate of $6.80 billion and the consensus of $6.83 billion [3] Revenue Breakdown - The revenue beat was driven by stronger performance in Auto OEM (+$25.1 million) and Outdoor segments (+$2.8 million), while Aviation (-$1.3 million), Fitness (-$4.6 million), and Marine (-$7.3 million) segments underperformed against consensus [2] - Garmin expects revenue growth by segment for fiscal 2025: Fitness +15% Y/Y, Outdoor +10% Y/Y, Aviation +5% Y/Y, Marine flat Y/Y, and Auto +7% Y/Y [3] Guidance and Margins - Garmin maintained its adjusted EPS guidance at $7.80, slightly below the consensus estimate of $7.92 [1][3] - The company anticipates a gross margin of 58.5% and an operating margin of 24.8% for fiscal 2025, both slightly adjusted from previous estimates [3] - Analyst Noah Zatzkin updated fiscal 2025 EPS to $7.80 and fiscal 2026 EPS to $8.28, reflecting ongoing resilience and momentum [3]