Garmin Ltd. (GRMN) Reports In-Line Q2 EPS

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Go back to Garmin Ltd. (GRMN) Reports In-Line Q2 EPS

Garmin announces second quarter 2022 results

July 27, 2022 7:00 AM EDT

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)-- Garmin® Ltd. (NYSE: GRMN) today announced results for the second quarter ended June 25, 2022.

Highlights for second quarter 2022 include:

Consolidated revenue of $1.24 billion, a 6% decrease compared to the strong, pandemic-driven prior year quarter The year-over-year strengthening of the U.S. Dollar relative to other major currencies unfavorably impacted consolidated revenue by approximately $57 million Gross and operating margins were 58.7% and 23.6%, respectively Operating income of $293 million, a 21% decrease compared to the prior year quarter GAAP EPS was $1.33 and pro forma EPS(1) was... More