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Garmin (GRMN) to Report Q4 Earnings: What's in the Offing?
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Garmin Ltd. (GRMN - Free Report) is scheduled to report fourth-quarter 2020 results on Feb 17.
For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $1.17 billion, indicating growth of 5.8% from the prior-year reported figure.
Further, the Zacks Consensus Estimate for earnings stands at $1.37 per share, suggesting growth of 6.2% from the year-ago reported figure.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average being 58.3%.
Garmin’s strength across fitness and marine segments is expected to have benefited its fourth-quarter performance.
In the marine segment, robust chartplotters and advanced sonar technology are expected to have contributed well to the segment’s top-line growth in the quarter under review. Also, growing popularity of boating and fishing amid the ongoing pandemic is likely to have aided the Marine segment’s fourth-quarter performance.
During the quarter, the company launched RV 1090 GPS navigator, which comes with 10-inch high-resolution, and edge-to-edge touchscreen display in both portrait and landscape mode. This is expected to have expanded offerings in the navigation space.
Markedly, solid momentum across the company’s advanced wearables and cycling products is likely to have continued aiding the fitness segment performance during the to-be-reported quarter. Further, contributions from the Firstbeat Analytics acquisition are expected to have benefited the segment.
Further, robust adventure watches are expected to have benefited the performance of Garmin’s outdoor segment in the quarter under review. Also, integration of the solar harvesting technology in adventure smartwatches is expected to have remained a tailwind for the segment.
However, sluggishness in its auto and aviation segments is expected to have been concerns. Uncertainties associated with the ongoing pandemic are likely to have continued hurting OEM partners and retrofit activities.
Nevertheless, strengthening momentum across Specialty RV and truck categories is anticipated to have contributed well. During the quarter, the company’s GFC 600 digital autopilot received Supplemental Type Certificate from the Federal Aviation Administration for use in Beechcraft King Air C90 and E90 aircraft. This approval is a testament to its focus on strengthening the aviation portfolio.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Garmin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Garmin has an Earnings ESP of -5.34% and a Zacks Rank #3, at present.
Stocks to Consider
Here are some stocks you may consider, as our proven model shows that these have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Workday, Inc. (WDAY - Free Report) has an Earnings ESP of +0.90% and a Zacks Rank #2.
Lattice Semiconductor Corporation (LSCC - Free Report) has an Earnings ESP of +2.94% and holds a Zacks Rank of 3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Garmin (GRMN) to Report Q4 Earnings: What's in the Offing?
Garmin Ltd. (GRMN - Free Report) is scheduled to report fourth-quarter 2020 results on Feb 17.
For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $1.17 billion, indicating growth of 5.8% from the prior-year reported figure.
Further, the Zacks Consensus Estimate for earnings stands at $1.37 per share, suggesting growth of 6.2% from the year-ago reported figure.
The company surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average being 58.3%.
Garmin Ltd. Price and EPS Surprise
Garmin Ltd. price-eps-surprise | Garmin Ltd. Quote
Factors to Note
Garmin’s strength across fitness and marine segments is expected to have benefited its fourth-quarter performance.
In the marine segment, robust chartplotters and advanced sonar technology are expected to have contributed well to the segment’s top-line growth in the quarter under review. Also, growing popularity of boating and fishing amid the ongoing pandemic is likely to have aided the Marine segment’s fourth-quarter performance.
During the quarter, the company launched RV 1090 GPS navigator, which comes with 10-inch high-resolution, and edge-to-edge touchscreen display in both portrait and landscape mode. This is expected to have expanded offerings in the navigation space.
Markedly, solid momentum across the company’s advanced wearables and cycling products is likely to have continued aiding the fitness segment performance during the to-be-reported quarter. Further, contributions from the Firstbeat Analytics acquisition are expected to have benefited the segment.
Further, robust adventure watches are expected to have benefited the performance of Garmin’s outdoor segment in the quarter under review. Also, integration of the solar harvesting technology in adventure smartwatches is expected to have remained a tailwind for the segment.
However, sluggishness in its auto and aviation segments is expected to have been concerns. Uncertainties associated with the ongoing pandemic are likely to have continued hurting OEM partners and retrofit activities.
Nevertheless, strengthening momentum across Specialty RV and truck categories is anticipated to have contributed well. During the quarter, the company’s GFC 600 digital autopilot received Supplemental Type Certificate from the Federal Aviation Administration for use in Beechcraft King Air C90 and E90 aircraft. This approval is a testament to its focus on strengthening the aviation portfolio.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Garmin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Garmin has an Earnings ESP of -5.34% and a Zacks Rank #3, at present.
Stocks to Consider
Here are some stocks you may consider, as our proven model shows that these have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Rocket Companies, Inc. (RKT - Free Report) has an Earnings ESP of +3.12% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Workday, Inc. (WDAY - Free Report) has an Earnings ESP of +0.90% and a Zacks Rank #2.
Lattice Semiconductor Corporation (LSCC - Free Report) has an Earnings ESP of +2.94% and holds a Zacks Rank of 3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>