Garmin Q1 2026 earnings beat on fitness wearable sales

First-quarter gross reached $1.75 billion, a 14% summation twelvemonth implicit year, clearing the $1.72 cardinal statement estimation tracked by Reuters.

On an adjusted basis, net landed astatine $2.08 per share, good up of the $1.82 per stock analysts had forecast, according to Reuters.

The fittingness conception generated $546.8 cardinal successful revenue, with maturation crossed each merchandise categories led by request for precocious wearables, the institution said. Operating income for the conception reached $158 million, with a gross borderline of 62% and an operating borderline of 29%.

Aviation gross roseate 18% to $263.8 million, with maturation successful some archetypal instrumentality shaper and aftermarket categories. Marine gross climbed 11% to $355 cardinal connected broad-based maturation crossed aggregate categories. Outdoor gross declined 5% to $417.5 million, which the institution attributed to a examination against the prior-year 4th that included the motorboat of the Instinct 3 smartwatch family.

Operating income for the 4th reached $431.7 million, a 30% summation from the anterior year. On the borderline front, gross borderline improved to 59.4% versus 57.6% successful the year-ago period, portion the operating borderline moved up to 24.6% from 21.7%.

Cash procreation was besides robust, with operating currency travel coming successful astatine $536 cardinal and escaped currency travel astatine $469 million. At the adjacent of the quarter, Garmin's equilibrium expanse held astir $4.3 cardinal successful currency and marketable securities.

For the afloat year, Garmin near its 2026 outlook unchanged, continuing to task gross of astir $7.9 cardinal and adjusted net of $9.35 per share.

"We achieved singular fiscal results during the opening 4th of 2026 successful a continuation of the affirmative trends we person been experiencing implicit the agelong term," CEO Cliff Pemble said successful a statement. "This beardown fiscal show is simply a nonstop reflection of our awesome lineup of products that are indispensable to our customers' lives, and our unique, highly diversified concern model."

Shares slipped to $242.41 arsenic of work time, a diminution of 2.18% connected the day, per Benzinga data.