Garmin LtdNYSE: GRMN
Consumer Discretionary · Consumer Electronics
$241.86
-3.70%
Vol: 478K
Research Digest
Friday, May 1, 2026
Garmin reports Q1 2026 revenue of $1.75 billion, up 14%, with Fitness segment surging 42% year-over-year; stock jumps 6% and company maintains full-year guidance of $7.9 billion revenue and $9.35 EPS.
Garmin delivered strong Q1 2026 results with revenue of $1.75 billion, up 14.2% year-over-year, and EPS of $2.08 versus $1.61 prior year, exceeding Wall Street expectations. The Fitness segment achieved record first-quarter revenue of $547 million, up 42%, driven by strong wearables demand. Gross margin expanded to 59.4%. The company finished the quarter with $4.3 billion in cash, paid $174 million in dividends, and repurchased $40 million in stock. Management maintains full-year guidance of $7.9 billion revenue and $9.35 EPS.
Previous Market Intelligence
13 daysApr 30Garmin posts record Q1 2026 revenue and earnings growth on fitness segment strength, beats estimatesPositive▶
Garmin announced record Q1 2026 consolidated revenue of $1.75 billion, up 14% year-over-year, with strong performance across multiple segments. The fitness division surged 42%, aviation grew 18%, and marine increased 11%, partially offset by outdoor declining 5%. Record operating income reached $432 million, up 30% from prior year, with gross and operating margins expanding to 59.4% and 24.6% respectively. GAAP diluted EPS reached $2.09, beating analyst estimates of $1.86 by $0.22, while pro forma EPS was $2.08, up 29% year-over-year. The company maintains 2026 full-year guidance of $7.9 billion revenue and $9.35 pro forma EPS. Fenix 8 Pro was recognized as Best Connected Device at Mobile World Congress. JPMorgan raised price target to $285. The Board recommended annual dividend of $4.20 per share.
Apr 29Garmin reports record Q1 2026 revenue of $1.75B, up 14%, with fitness segment surging 42%Positive▶
Garmin announced Q1 2026 results on April 29 with record revenue of $1.75 billion (+14% YoY) and operating income of $432 million (+30% YoY). EPS of $2.08 beat estimates of $1.86 by $0.22. Fitness segment revenue increased 42% with strong demand for advanced wearables. Aviation segment up 18% with growth in OEM and aftermarket. Marine segment up 11%, launching 360-degree scanning sonar system. FY2026 guidance provided at approximately $7.9 billion. Fenix 8 Pro recognized as "Best Connected Device" at 2026 Mobile World Congress.
Apr 16Garmin reported record 2025 results with $7.25B revenue; Morgan Stanley upgraded to Equalweight with $252 PT; stock at all-time high $261.73.Positive▶
Garmin surged 9.4% on Q4 results beat with $2.12B quarterly revenue and $2.79 pro forma EPS. Full-year 2026 guidance: $7.9B revenue, $9.35 EPS. Company proposed $4.20 per-share dividend (to be voted June 5). Morgan Stanley upgraded from Underweight to Equalweight, praising 2026 growth outlook. Stock gained 36.1% YoY and reached all-time high of $261.73.
Apr 15Garmin partners with Natural Cycles to integrate FDA-cleared fertility tracking into smartwatches, posting record 2025 revenue of $7.25 billion.Positive▶
Garmin announced a strategic partnership with Natural Cycles to bring FDA-cleared fertility and reproductive health tracking to compatible Garmin smartwatches. The company reported record 2025 consolidated revenue of $7.25 billion, operating income of $1.88 billion, and over 20 million unit shipments. Q1 2026 earnings call scheduled for April 29, 2026.
Apr 14Garmin announced Q1 2026 earnings call for April 29 and launched fertility tracking partnership with Natural Cycles for smartwatches.Positive▶
Garmin scheduled its Q1 2026 earnings conference call for April 29, 2026 at 10:30 a.m. EDT. The company announced a partnership with Natural Cycles to integrate FDA-cleared fertility and reproductive health tracking into compatible Garmin smartwatches. Garmin reported strong 2025 results with $7.25B revenue, $1.88B operating income, and 20+ million units shipped. The company proposed a $4.20 per-share annual dividend.
Apr 13Garmin partners with Natural Cycles for FDA-cleared fertility tracking on smartwatches; record FY2025 revenue of $7.25 billion.Positive▶
Garmin announced a partnership with Natural Cycles to integrate FDA-cleared fertility and reproductive health tracking into compatible smartwatches. The company reported record 2025 results with consolidated revenue of $7.25 billion (+15% YoY), operating income of $1.88 billion, and over 20 million unit shipments. The Board approved a $4.20 annual dividend (17% increase) and authorized a new $500 million share repurchase program. FY2026 guidance includes $7.9 billion revenue. Q1 2026 earnings scheduled for April 29.
Apr 10Garmin partners with Natural Cycles for FDA-cleared fertility tracking integration; Q1 earnings April 29.Positive▶
Garmin announced partnership with Natural Cycles to integrate FDA-cleared fertility and reproductive health tracking into compatible Garmin smartwatches. Stock trading around $232-$256 with strong momentum. Company projects 2026 revenue of ~$7.9 billion with pro forma EPS of ~$9.35, proposing 17% dividend increase.
Apr 9Garmin reports strong Q4 with shares jumping 9.4% on beat; launches Natural Cycles fertility app integrationPositive▶
Garmin posted strong fourth-quarter results and forward guidance, driving 9.4% stock rally. Q4 revenue rose to $2.12 billion with pro forma EPS of $2.79. Full-year 2026 guidance calls for revenue of $7.9 billion and EPS of $9.35, with company also announcing dividend increase and share repurchase authorization. Announced strategic product integration with Natural Cycles, FDA-cleared fertility and birth control app, enabling skin temperature tracking on select Garmin smartwatches including Fenix 8 and Venu models. Released major firmware update 22.21 for premium smartwatches with nearly three dozen improvements. Average analyst Buy rating with $252.4 price target from 6 analysts.
Apr 8Garmin posts Q4 beat with strong 2026 guidance; Natural Cycles fertility app integration announcedPositive▶
Garmin shares jumped 9.4% on strong Q4 results and 2026 guidance (Feb 19, 2026). Q4 revenue $2.12B with pro forma EPS $2.79. 2026 guidance: revenue ~$7.9B, pro forma EPS ~$9.35. Announced Natural Cycles fertility app integration with select smartwatches (March 2026), adding FDA-cleared birth control functionality. Announced $0.90 cash dividend (ex-date March 13). Stock at $237.65 with Buy consensus (6 analysts, $252.4 PT = 4.61% upside). Fair value raised to $260.25.
Apr 7Morgan Stanley upgrades Garmin to Equal Weight, raises PT to $252; Natural Cycles integration.Positive▶
Morgan Stanley upgraded Garmin to Equal Weight from Underweight, PT $252 from $195. Garmin announced Natural Cycles fertility tracking integration. Fair value raised to $260.25. Stock $206.92.
Apr 6Garmin integrates fertility tracking and signals strong 2026 outlook ahead of Q1 earningsPositive▶
Garmin announced a Natural Cycles integration for its smartwatch offerings on March 31, 2026, expanding its health features. Q4 results and 2026 guidance beat expectations with a 9.4% share price jump. The company trades at $237.65 with analyst target of $260.25, with upcoming Q1 earnings on April 29. Analysts cite fitness momentum and AI-enabled services driving higher price targets.
Apr 3Garmin partners with Natural Cycles to integrate FDA-cleared fertility tracking into smartwatches, expanding health ecosystem.Positive▶
Garmin announced a partnership with Natural Cycles to integrate FDA-cleared fertility and reproductive health tracking into compatible Garmin smartwatches. Q1 2026 earnings call scheduled for April 29, 2026. Analyst consensus from 6 analysts is Buy with average 12-month PT of $252.40. Market reaction was positive with GRMN gaining 2.66% on the day.
Apr 2Garmin analyst fair value estimate raised to $260.25; Natural Cycles partnership announced; earnings scheduled April 29.Positive▶
Garmin announced product integration with Natural Cycles (FDA-cleared birth control app), enhancing smartwatch capabilities. Street analysts raised the analyst fair value estimate to $260.25 from $235.25, reflecting expectations for stronger revenue and fitness momentum into 2026 plus new AI-enabled services. The stock trades at $232-$237, roughly 12% below fair value. Q1 2026 earnings scheduled for April 29. Garmin trades at 27.64 P/E with 1.3% dividend yield.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| GRMNGARMIN | $241.86 | -3.70% | +3.4% | 24.8x | 0.97 | $48.4B |
| AMZNAMAZON.COM | $268.12 | +1.15% | +24.6% | 27.1x | 1.38 | $2.85T |
| TSLATESLA | $390.70 | +2.38% | +8.2% | 150.5x | 1.92 | $1.43T |
| HDHOME | $324.45 | -1.32% | +0.7% | 20.2x | 1.08 | $327.5B |
| MCDMCDONALD | $287.01 | -2.24% | -5.2% | 20.4x | 0.53 | $208.7B |
| TJXTJX | $157.03 | +0.18% | -3.1% | 27.6x | 0.73 | $174.1B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price between 50d and 200d. Testing 50d support.