Garmin 2025 Q1 Earnings Strong Performance as Net Income Surges 20.6%
Generated by AI AgentAinvest Earnings Report Digest
Wednesday, Apr 30, 2025 9:14 am ET2min read
GRMN--
Garmin (GRMN) reported its fiscal 2025 Q1 earnings on Apr 29th, 2025. Garmin's Q1 results surpassed analysts' expectations with an EPS of $1.73, exceeding the anticipated $1.67. The company raised its full-year revenue outlook to $6.85 billion, up 9% from 2024, reflecting optimism amid global trade uncertainties. However, GarminGRMN-- maintained its adjusted earnings target at $7.80 per share, highlighting confidence in its business performance and strategic investments.
Revenue
Garmin's first-quarter revenue rose by 11.1% to $1.54 billion, compared to $1.38 billion in the previous year. The Fitness segment contributed $384.72 million, driven by advanced wearables, while Outdoor revenue climbed to $438.50 million on the back of adventure products. Aviation recorded $223.11 million, and Marine brought in $319.44 million, despite a slight decline. Auto OEM revenue saw significant growth, reaching $169.33 million, showcasing the company's diversified business model.
Earnings/Net Income
Garmin's EPS increased by 20.1% to $1.73 in 2025 Q1, up from $1.44 in 2024 Q1, demonstrating continued earnings growth. Net income reached $332.77 million, marking a 20.6% rise from $275.96 million in the previous year. The EPS results reflect a robust financial performance, underscoring Garmin's operational resilience and profitability.
Price Action
The stock price of Garmin edged up 1.47% during the latest trading day, climbed 6.63% over the past week, but experienced a 5.93% decline month-to-date.
Post-Earnings Price Action Review
Garmin's post-earnings performance shows a moderate short-term impact on its stock price. Historical backtest results indicate consistent win rates of 53.85% over 3-day, 10-day, and 30-day periods following earnings releases. While the stock has potential for positive movement with a maximum observed return of 8.02% over 30 days, the overall effect remains relatively subdued. This pattern suggests that while Garmin's earnings reports do influence stock movements, the changes are not overwhelmingly significant, pointing to a stable yet cautious investor sentiment.
CEO Commentary
Garmin Ltd. delivered outstanding financial results in the first quarter of 2025, driven by a strong lineup of differentiated products. Despite global trade uncertainties, CEO Cliff Pemble emphasized the company's optimism, attributing it to the resilience and flexibility of its vertically integrated and diversified business model. He expressed satisfaction with current results and indicated a positive outlook for upcoming opportunities as the year progresses.
Guidance
Garmin maintains its full-year earnings per share guidance, reflecting confidence in its business performance amid ongoing market dynamics. The company expects to capitalize on growth opportunities as it continues to innovate and meet customer demands, reinforcing its market position with a focus on product differentiation and strategic investments.
Additional News
Recent non-earnings developments include Garmin's launch of the Instinct 3 - Tactical Edition smartwatch, featuring advanced tactical capabilities and a solar-powered display. The company also introduced Garmin Pilot Web, an online flight planning tool available in North America, enhancing its existing mobile app ecosystem. Additionally, Garmin announced the Garmin Marathon Series, a proprietary event set to debut in Fall 2025, marking a shift from traditional race sponsorships to full event ownership. These initiatives showcase Garmin's ongoing commitment to innovation and expanding its market presence.
Revenue
Garmin's first-quarter revenue rose by 11.1% to $1.54 billion, compared to $1.38 billion in the previous year. The Fitness segment contributed $384.72 million, driven by advanced wearables, while Outdoor revenue climbed to $438.50 million on the back of adventure products. Aviation recorded $223.11 million, and Marine brought in $319.44 million, despite a slight decline. Auto OEM revenue saw significant growth, reaching $169.33 million, showcasing the company's diversified business model.
Earnings/Net Income
Garmin's EPS increased by 20.1% to $1.73 in 2025 Q1, up from $1.44 in 2024 Q1, demonstrating continued earnings growth. Net income reached $332.77 million, marking a 20.6% rise from $275.96 million in the previous year. The EPS results reflect a robust financial performance, underscoring Garmin's operational resilience and profitability.
Price Action
The stock price of Garmin edged up 1.47% during the latest trading day, climbed 6.63% over the past week, but experienced a 5.93% decline month-to-date.
Post-Earnings Price Action Review
Garmin's post-earnings performance shows a moderate short-term impact on its stock price. Historical backtest results indicate consistent win rates of 53.85% over 3-day, 10-day, and 30-day periods following earnings releases. While the stock has potential for positive movement with a maximum observed return of 8.02% over 30 days, the overall effect remains relatively subdued. This pattern suggests that while Garmin's earnings reports do influence stock movements, the changes are not overwhelmingly significant, pointing to a stable yet cautious investor sentiment.
CEO Commentary
Garmin Ltd. delivered outstanding financial results in the first quarter of 2025, driven by a strong lineup of differentiated products. Despite global trade uncertainties, CEO Cliff Pemble emphasized the company's optimism, attributing it to the resilience and flexibility of its vertically integrated and diversified business model. He expressed satisfaction with current results and indicated a positive outlook for upcoming opportunities as the year progresses.
Guidance
Garmin maintains its full-year earnings per share guidance, reflecting confidence in its business performance amid ongoing market dynamics. The company expects to capitalize on growth opportunities as it continues to innovate and meet customer demands, reinforcing its market position with a focus on product differentiation and strategic investments.
Additional News
Recent non-earnings developments include Garmin's launch of the Instinct 3 - Tactical Edition smartwatch, featuring advanced tactical capabilities and a solar-powered display. The company also introduced Garmin Pilot Web, an online flight planning tool available in North America, enhancing its existing mobile app ecosystem. Additionally, Garmin announced the Garmin Marathon Series, a proprietary event set to debut in Fall 2025, marking a shift from traditional race sponsorships to full event ownership. These initiatives showcase Garmin's ongoing commitment to innovation and expanding its market presence.
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