GARMIN LTD (GRMN) Form 8-K — Oct 28, 2026
Garmin reported record third quarter 2026 results, with consolidated revenue of $1.99 billion up 12% year-over-year and record operating income of $612 million, up 34%. GAAP EPS was $2.80 and pro forma EPS $2.76, up 39% from the prior year quarter. Growth was broad-based, led by fitness (+16%), outdoor (+20%), and marine (+16%), while the Auto OEM segment declined 20% and posted a $12 million operating loss. Gross margin expanded 420 basis points to a record 63.3%, helped by favorable mix, lower product costs, and roughly $33 million in tariff refunds.
Key figures
- Eps
- 2.8
- Revenue
- 1986076000
- Guidance
- FY2026 revenue ~$8.15B, pro forma EPS $10.80, gross margin 61.0%, operating margin 29.0%, tax rate 16.5% (raised)
- Net Income
- 541661000
- Revenue Yoy
- 12%
- Total Assets
- 11993783000
- Cash Position
- 4100000000
- Shares Outstanding
- 192757000
- Q3 buybacks
- 41000000
- Pro forma eps
- 2.76
- Marine revenue
- 309878000
- Tariff refunds
- 33000000
- Fitness revenue
- 694328000
- Outdoor revenue
- 597301000
- Auto oem revenue
- 131912000
- Aviation revenue
- 252657000
- Gross margin pct
- 63.3
- Operating income
- 611648000
- Q3 dividend paid
- 202000000
- Buyback remaining
- 407000000
- Free cash flow q3
- 293268000
- Pro forma eps yoy
- 39%
- Auto oem revenue yoy
- -20%
- Operating income yoy
- 34%
- Operating margin pct
- 30.8
- Operating cash flow q3
- 393855000
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