Garmin Q4 EPS $2.79 Beats Estimate by 16.6%, Guides $7.9B 2026 Revenue
Garmin reported fourth-quarter pro forma EPS of $2.79, a 16% year-over-year gain that topped estimates by 16.6%. The company forecast 2026 revenue of $7.9 billion versus a $7.54 billion consensus, and projects a 58.5% gross margin with a 25.5% operating margin.
1. Q4 Pro Forma Earnings Beat Estimates
Garmin delivered pro forma earnings per share of $2.79 in the fourth quarter of fiscal 2025, beating consensus estimates by 16.6% and marking a 16% year-over-year increase. Improved operating leverage across key divisions underpinned the EPS outperformance.
2. Segment Performance Highlights
Revenue growth was broad-based, led by momentum in the Outdoor, Fitness, Aviation and Marine segments. Performance in these areas more than offset weakness in the Auto OEM segment, which saw lower unit shipments.
3. Fiscal 2026 Revenue Guidance Raised
The company forecast full-year fiscal 2026 revenue of $7.9 billion, outpacing the consensus target of $7.54 billion and implying year-over-year growth of roughly 13.3%.
4. Margin Projections and Profitability
Garmin projects a gross margin of 58.5% and an operating margin of 25.5% for fiscal 2026, reflecting tight cost controls and incremental operating leverage from higher volumes.