Garmin Ltd. (GRMN) Tops Q4 EPS by 34c, Revenues Beat; Offers FY21 EPS/Revenue Guidance Above Consensus

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Go back to Garmin Ltd. (GRMN) Tops Q4 EPS by 34c, Revenues Beat; Offers FY21 EPS/Revenue Guidance Above Consensus

Garmin reports fourth quarter results

February 17, 2021 7:00 AM EST

Company reports record results and proposes dividend increase

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin® Ltd. (NASDAQ: GRMN), today announced results for the fourth quarter and fiscal year ended December 26, 2020.

Highlights for fourth quarter 2020 include:

Total revenue of $1.35 billion, a 23% increase over the prior year quarter, led by robust growth in the marine, fitness and outdoor segments Gross margin of 58.5% compared to 58.0% in the prior year quarter Operating margin improved to 27.5% compared to 25.1% in the prior year quarter Operating income of... More