Garmin stock: Record quarter lifts 2026 outlook to USD 8.15 billion

Published on 10/30/2026 at 10:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Garmin stock follows a record quarter as Fitness and Outdoor lead growth. Auto OEM remains under pressure, keeping the segment mix in focus.

Garmin combines growth with higher guidance

Fitness, Outdoor and Marine generated double-digit third-quarter growth, while Auto OEM revenue declined.
Management expects higher memory costs to pressure margins as the company enters the 2027 planning period.
The next dividend installment is scheduled for December 24, 2026.

Garmin Ltd., CH0114405324, Illustration mit AI erstellt.

Garmin Ltd. reported record third-quarter operating results on Wednesday, October 28, 2026, and raised its full-year outlook as demand for wearables and outdoor products supported growth. The company now expects 2026 revenue of USD 8.15 billion and pro forma diluted earnings per share of USD 10.80, according to Morningstar's PR Newswire report.

Record quarter led by core segments

Revenue for the 13 weeks ended September 26 rose 12 percent from the prior-year quarter to USD 1.99 billion. Operating income increased 34 percent to USD 612 million, while gross margin expanded to 63.3 percent from 59.1 percent. Pro forma diluted earnings per share advanced 39 percent to USD 2.76; GAAP diluted earnings per share reached USD 2.80.

Fitness revenue climbed 16 percent to USD 694 million, driven by demand for wearables. Outdoor revenue increased 20 percent to USD 597 million, primarily on adventure watches. Marine revenue rose 16 percent to USD 310 million, while Aviation grew 5 percent to USD 253 million. Auto OEM was the exception: revenue fell 20 percent to USD 132 million, and the segment posted an operating loss of USD 12 million.

Chief Executive Officer Cliff Pemble said recently launched products and execution across markets supported the quarter. He also pointed to momentum entering the holiday selling season as the company lifted its outlook.

Higher outlook meets cost pressure

The revised forecast calls for a 61.0 percent full-year gross margin, a 29.0 percent operating margin and a 16.5 percent tax rate. Garmin generated USD 293 million in third-quarter free cash flow and ended the period with approximately USD 4.1 billion in cash and marketable securities.

The outlook also carries a margin risk for investors. Garmin said the third-quarter gross-margin expansion benefited from favorable product mix, lower product costs and approximately USD 33 million in refunds of previously paid tariffs. Management expects higher memory and raw-material costs to weigh on margins as lower-cost inventory is replaced, making 2027 profitability an important follow-up issue.

Garmin stock and investor dates

Garmin stock traded at 250.80 euros on Lang & Schwarz at 10:42 CET on Friday, October 30, 2026. Investors can follow the real-time quote of Garmin stock.