GARMIN LTD (GRMN) Form 10-Q — Oct 28, 2026
Garmin's Q3 FY2026 net income rose to $541.7 million from $401.6 million a year earlier, with diluted EPS of $2.80 versus $2.08, and nine-month net income of $1.49 billion versus $1.14 billion. The quarter benefited from approximately $54 million of refunds of previously paid IEEPA tariffs recognized as a reduction of cost of goods sold, following the February 2026 Supreme Court ruling that the tariffs were unauthorized, with additional potential refunds not yet recognized. Management flagged that global memory chip supply constraints have increased costs and are expected to unfavorably impact future gross margins; inventories grew to $2.25 billion from $1.77 billion at year-end 2025.
Key figures
- Eps
- 2.8
- Net Income
- 541661000
- Total Assets
- 11993783000
- Cash Position
- 2039779000
- Shares Outstanding
- 192695298
- Diluted eps
- $2.80 (Q3 FY26) vs $2.08 (Q3 FY25)
- Inventories
- $2,251,741K vs $1,772,257K at year-end 2025
- Ytd net income
- $1,488,660K vs $1,135,206K prior year
- Ytd diluted eps
- $7.69 vs $5.87 prior year
- Dividend per share
- $1.05 quarterly / $4.20 annual (FY26) vs $0.90 / $3.60 (FY25)
- Buyback 2026 program
- $500 million authorization, $92,674K repurchased, $407,326K remaining
- Operating cash flow ytd
- $1,333,399K vs $1,079,574K prior year
- Ieepa tariff refunds ytd
- ~$54 million
- Unconditional purchase obligations
- ~$416,000K
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.