Garmin Ltd. (GRMN) Tops Q3 EPS by 59c; Raises FY Outlook

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Go back to Garmin Ltd. (GRMN) Tops Q3 EPS by 59c; Raises FY Outlook

Garmin reports record third quarter operating results; issues fiscal 2020 guidance

October 28, 2020 7:00 AM EDT

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin Ltd. (Nasdaq: GRMN) today announced results for the third quarter ended September 26.

Highlights for third quarter 2020 include:

Total revenue of over $1.1 billion, a 19% year-over-year increase, led by robust growth in marine, fitness and outdoor Gross margin and operating margin were 60.2% and 28.6%, respectively Operating income of $317 million, increasing 21% over the prior year quarter GAAP diluted EPS was $1.63 and pro forma diluted EPS(1) was $1.58, increasing 24% over the prior year quarter Named Manufacturer of the Year by the National Marine Electronics... More