#Switzerland #Garmin #Schaffhausen #Fenix #Autoland

Garmin Reports Strong Financial Results for the Third Quarter of 2025

Garmin Ltd. (NYSE: GRMN) has published an encouraging financial report for the third quarter of 2025, ending September 27. With a record consolidated revenue of approximately $1.8 billion, this marks a notable 12% increase from the previous year. The company has strengthened its position in the market with robust growth across various segments, showcasing their commitment to innovation and technological advancements.

Financial Highlights

The financial overview reveals an operating income of $457 million, reflecting a 4% increase compared to the same period in the prior year. The gross margin stood at a formidable 59.1%, accompanied by an operating margin of 25.8%. Notably, the GAAP Earnings Per Share (EPS) was reported at $2.08, while the pro forma EPS remained unchanged from the previous quarter, reflecting stability amidst growth.

Segment Performance

Garmin's diversified business model proved beneficial, with substantial contributions from different segments:
1. Fitness: This segment excelled with a staggering 30% revenue growth, driven largely by the popularity of advanced wearable devices. Garmin's new product launches in this category included the Edge® 550 and Edge 850 cycling computers and the BounceTM 2 smartwatch, specifically designed for children.

2. Outdoor: Despite a minor decline of 5% due to strong prior year sales, the segment introduced innovative products like the fēnix® 8 Pro series. This groundbreaking smartwatch features inReach® satellite and cellular connectivity, enabling users to stay connected even in remote areas. Other exciting announcements included the launch of the Instinct® Crossover hybrid smartwatch and several diving products.

3. Aviation: The aviation segment reported an 18% revenue growth, underlined by the certification of new aircraft systems and enhancements to existing technologies. Garmin's Autoland and Autothrottle capabilities were certified for select G1000® NXi-equipped King Air 350 aircraft, showcasing their leadership in aviation technology.

4. Marine: The marine segment experienced a 20% revenue boost, launching several innovative products such as the Force® Current hands-free kayak propulsion system, further solidifying its market presence.

5. Auto OEM: There was a slight decrease in revenue in the auto OEM segment, yet Garmin remains a distinguished supplier in the automotive market, celebrating milestones like delivering the three millionth BMW domain controller.

Commitment to Innovation

Garmin's strategic focus on innovation was reaffirmed through partnerships and product collaborations. A significant collaboration with King's College London involves providing smartwatches for their EMBRACE program, geared towards improving maternal health outcomes through technology.

Looking Ahead

As the holiday season approaches, Garmin is set to capitalize on its market position with a strong lineup of innovative products. The company anticipates revenues for the fiscal year 2025 to reach approximately $7.1 billion and has raised its EPS guidance accordingly.

In a statement, Cliff Pemble, Garmin's President and CEO, expressed confidence in their financial results and the company's capability to navigate through evolving market challenges. With a commitment to sustainability, innovation, and consumer health, Garmin Ltd. remains a powerhouse in the technological landscape. Analysts and investors will be closely monitoring Garmin’s next moves as the company continues to evolve and adapt to industry demands.

The fiscal health and strategic advancements laid out in this report provide solid groundwork for Garmin as it gears up for future challenges and opportunities in 2025 and beyond.