Garmin Ltd. (GRMN) Tops Q4 EPS by 4c, FY Guidance Tops Views; to Raise Dividend

Garmin Ltd. (NASDAQ: GRMN) reported Q4 EPS of $0.79, $0.04 better than the analyst estimate of $0.75. Revenue for the quarter came in at $888 million versus the consensus estimate of $870.21 million.

GUIDANCE:

Garmin Ltd. sees FY2018 EPS of $3.05, versus the consensus of $2.99. Garmin Ltd. sees FY2018 revenue of $3.2 million, versus the consensus of $3.12 million.

Dividend Recommendation:

The board of directors intends to recommend to the shareholders for approval at the annual meeting to be held on June 8, 2018, a cash dividend in the amount of $2.12 per share (subject to possible adjustment based on the total amount of the dividend in Swiss Francs as approved at the annual meeting), payable in four equal installments on dates to be determined by the Board. The Board currently anticipates the scheduling of the dividend in four installments as follows:

In addition, the board of directors has established March 30, 2018 as the payment date and March 15, 2018 as the record date for the final dividend installment of $0.51 per share, per the prior approval at the 2017 annual shareholders’ meeting. The first, second and third payments of $0.51 per share were made on June 30, 2017, September 29, 2017, and December 29, 2017, respectively.

For earnings history and earnings-related data on Garmin Ltd. (GRMN) click here.

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