Financial Performance - Consolidated revenue for Q2 2025 reached $181 billion, a 20% year-over-year increase[5] - Operating income for Q2 2025 was $472 million, a 38% year-over-year increase[7] - GAAP EPS for Q2 2025 was $207, a 33% year-over-year increase[18] - Pro Forma EPS for Q2 2025 was $217, a 37% year-over-year increase[18] Segment Performance - Fitness segment revenue for Q2 2025 was $605 million, a 41% year-over-year increase, with an operating income of $198 million[8] - Outdoor segment revenue for Q2 2025 was $490 million, an 11% year-over-year increase, with an operating income of $158 million[11] - Aviation segment revenue for Q2 2025 was $249 million, a 14% year-over-year increase, with an operating income of $63 million[12] - Marine segment revenue for Q2 2025 was $299 million, a 10% year-over-year increase, with an operating income of $63 million[14] - Auto OEM segment revenue for Q2 2025 was $170 million, a 16% year-over-year increase, with an operating income of -$10 million[16] Financial Position - Cash and marketable securities totaled $387 billion[23] Guidance - The company raised its 2025 revenue guidance to $71 billion[7,24]

Core Insights - Garmin Ltd. reported record second quarter operating results, achieving a 20% increase in net sales year-over-year, totaling $1.81 billion [2][9] - The company raised its full year guidance, now anticipating approximately $7.1 billion in revenue and pro forma EPS of $8.00 [15] Financial Performance - Net sales for the second quarter reached $1,814,564, compared to $1,506,671 in the prior year, reflecting a 20% increase [2] - Gross profit was $1,067,012, a 24% increase from $862,891 in the previous year, with a gross margin of 58.8% [2][9] - Operating income rose to $472,295, marking a 38% increase from $342,027 in the prior year, with an operating margin of 26.0% [2][9] - GAAP diluted EPS was $2.07, a 33% increase from $1.56, while pro forma diluted EPS was $2.17, a 37% increase from $1.58 [2][9] Segment Performance - Fitness segment revenue increased by 41% to $605,425, driven by strong demand for advanced wearables [4] - Outdoor segment revenue grew by 11% to $490,357, primarily due to growth in adventure watches [5] - Aviation segment revenue rose by 14% to $249,366, with contributions from both OEM and aftermarket products [6] - Marine segment revenue increased by 10% to $299,262, led by growth in chartplotters [7] - Auto OEM segment revenue increased by 16% to $170,154, primarily driven by growth in domain controllers [10] Cash Flow and Capital Management - Operating cash flows for the quarter were $173 million, with free cash flow of $127 million [13] - The company paid a quarterly dividend of approximately $173 million and repurchased $67 million of its shares [13] Guidance and Future Outlook - The company anticipates a gross margin of 58.5% and an operating margin of 24.8% for the full year 2025 [15] - The effective tax rate for the second quarter was 16.5%, down from 17.9% in the prior year [12]

Core Insights - Garmin (GRMN) is set to report its second-quarter 2025 results on July 30, with earnings estimated at $1.96 per share, reflecting a 24% year-over-year increase [1][2] - The revenue estimate for the same quarter is $1.74 billion, indicating a year-over-year growth of 15.35% [2][11] Revenue Segments - The Fitness segment is expected to generate revenues of $482.5 million, showing a 12.6% increase year-over-year, driven by strong demand for advanced wearables and new wellness products [5][4] - The Outdoor segment's revenue is projected at $469.1 million, representing a 6.6% year-over-year growth, supported by strong momentum in wearables and new product launches [7][6] - The Marine segment is anticipated to achieve revenues of $340.4 million, up 24.7% from the previous year, bolstered by new product launches and the acquisition of Lumishore [9][8] - The Aviation segment is expected to report revenues of $245.8 million, indicating a 12.6% year-over-year growth, aided by increased demand in private air travel and new product launches [12][10] - The Auto OEM segment is projected to reach $185.5 million in revenues, reflecting a significant 26% year-over-year growth, driven by increased shipments to BMW [12] Growth Drivers - Garmin's expanding product portfolio is a key growth driver for its top-line performance in Q2 2025 [3] - Collaborations with Zwift and Google Maps are likely to enhance product appeal and boost sales across various segments [11]