Garmin Ltd. (GRMN) Tops Q4 EPS by 26c, Sees FY Revs Above the Street, Proposes 7% Div Increase

Garmin Ltd. (NASDAQ: GRMN) reported Q4 EPS of $1.29, $0.26 better than the analyst estimate of $1.03. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1 billion.

“2019 was another exciting year of growth thanks to our strong lineup of products and unique innovations,” said Cliff Pemble, president and chief executive officer of Garmin Ltd. “We entered 2020 with a great lineup of recently introduced products with more on the way. We are excited about the future because each business segment offers unique growth opportunities for 2020 and beyond.”

GUIDANCE:

Garmin Ltd. sees FY2020 revenue of ~$4 billion, versus the consensus of $3.84 billion.

Dividend Recommendation:

The board of directors intends to recommend to the shareholders for approval at the annual meeting to be held on June 5, 2020, a cash dividend in the amount of $2.44 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.

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

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