Garmin Raises Annual Forecast After Strong Second Quarter

Garmin now projects annual revenue to reach $8.05 billion with pro forma earnings of $10.00 per share, surpassing its previous guidance of $7.9 billion and $9.35 per share. This upward revision follows a significant earnings report that eclipsed FactSet consensus estimates of $8.01 billion in revenue and $9.67 per share.

Net income climbed to $541.9 million, or $2.80 a share, compared with $400.8 million during the same period last year. Total net sales reached $2.02 billion, largely driven by a 25% surge in the fitness segment. While growth remained steady across aviation, marine, and auto OEM units, the outdoor category experienced a slight 2% decline, hindered by slower performance in adventure watches and consumer automotive products.