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Garmin (GRMN) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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Garmin (GRMN - Free Report) reported $1.48 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.5%. EPS of $1.72 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of +5.58% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $1.40, the EPS surprise was +22.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Garmin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Marine: $239.89 million versus the four-analyst average estimate of $226.16 million. The reported number represents a year-over-year change of +13.9%.
Net Sales- Aviation: $217.13 million versus $203.89 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.6% change.
Net Sales- Fitness: $412.08 million versus the four-analyst average estimate of $405.36 million. The reported number represents a year-over-year change of +22.4%.
Net Sales- Outdoor: $486.38 million versus the four-analyst average estimate of $483.53 million. The reported number represents a year-over-year change of +25.3%.
Net Sales- Auto OEM: $127.03 million compared to the $101.54 million average estimate based on four analysts. The reported number represents a change of +54% year over year.
Operating income- Outdoor: $163.86 million versus the four-analyst average estimate of $138.92 million.
Operating income- Fitness: $92.55 million versus the four-analyst average estimate of $59.57 million.
Operating income- Marine: $37.29 million versus $36.91 million estimated by four analysts on average.
Operating income- Auto OEM: -$9.92 million versus the four-analyst average estimate of -$15.09 million.
Gross profit- Fitness: $232.15 million compared to the $209.55 million average estimate based on four analysts.
Gross profit- Marine: $126.10 million compared to the $104.50 million average estimate based on four analysts.
Gross profit- Aviation: $162.21 million compared to the $148.80 million average estimate based on four analysts.
Shares of Garmin have returned -3.4% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Garmin (GRMN) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Garmin (GRMN - Free Report) reported $1.48 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.5%. EPS of $1.72 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of +5.58% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $1.40, the EPS surprise was +22.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Garmin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Marine: $239.89 million versus the four-analyst average estimate of $226.16 million. The reported number represents a year-over-year change of +13.9%.
- Net Sales- Aviation: $217.13 million versus $203.89 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.6% change.
- Net Sales- Fitness: $412.08 million versus the four-analyst average estimate of $405.36 million. The reported number represents a year-over-year change of +22.4%.
- Net Sales- Outdoor: $486.38 million versus the four-analyst average estimate of $483.53 million. The reported number represents a year-over-year change of +25.3%.
- Net Sales- Auto OEM: $127.03 million compared to the $101.54 million average estimate based on four analysts. The reported number represents a change of +54% year over year.
- Operating income- Outdoor: $163.86 million versus the four-analyst average estimate of $138.92 million.
- Operating income- Fitness: $92.55 million versus the four-analyst average estimate of $59.57 million.
- Operating income- Marine: $37.29 million versus $36.91 million estimated by four analysts on average.
- Operating income- Auto OEM: -$9.92 million versus the four-analyst average estimate of -$15.09 million.
- Gross profit- Fitness: $232.15 million compared to the $209.55 million average estimate based on four analysts.
- Gross profit- Marine: $126.10 million compared to the $104.50 million average estimate based on four analysts.
- Gross profit- Aviation: $162.21 million compared to the $148.80 million average estimate based on four analysts.
View all Key Company Metrics for Garmin here>>>Shares of Garmin have returned -3.4% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.