Garmin: Announces Third Quarter 2024 Results

Garmin® Ltd. (NYSE: GRMN), today announced results for the third quarter ended September 28, 2024.
Highlights for the third quarter 2024 include:
  • Consolidated revenue of $1.59 billion, a 24% increase compared to the prior year quarter
  • Gross and operating margins expanded to 60.0% and 27.6%, respectively
  • Operating income of $437 million, a 62% increase compared to the prior year quarter
  • GAAP EPS of $2.07 and pro forma EPS(1) of $1.99, representing 41% growth in pro forma EPS over the prior year quarter
  • Launched the fēnix® 8 series and the Enduro™ 3 expanding our lineup of outdoor adventure watches
  • Named 2024 Manufacturer of the Year by the National Marine Electronics Association for the 10th consecutive year, and received six Product of Excellence awards, for a total of 63 over the last decade
  • Named the #1 Most Innovative Marine Company for the second consecutive year by Soundings Trade Only, a leading trade publication for the recreational boating industry
  • Announced the strategic acquisition of Lumishore, a leader in marine LED lighting
  • Co-founders, Dr Min Kao and the late Gary Burrell were enshrined in the National Aviation Hall of Fame
For the full document click the link below:
Garmin Ltd
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