We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Garmin (GRMN) Boosts Aviation Business With FltPlan SMS Updates
Read MoreHide Full Article
Garmin (GRMN - Free Report) is leaving no stone unturned to strengthen its aviation segment on the back of strong inflight offerings.
This is evident from the latest advancements in the FltPlan safety management system (SMS), which now comes with updated features of the Flight Risk Assessment Tool (FRAT).
The company has made flight risk assessment submissions simple to save pilots’ time in data input so that they can quickly complete a FRAT before a flight. The new FRAT is designed to input data regarding a flight, such as weather, terrain and runway conditions, automatically.
This way pilots will now be able to get flight risk score and risk mitigation strategies seamlessly. Also, the redesigned FRAT can be customized for different pilots and aircraft.
In addition, FltPlan SMS shows a safety performance dashboard, which allows operators to monitor safety performance indicators easily. It also helps in the identification of areas that require safety enhancements.
Apart from this, employees of participating flight departments can file an Aviation Safety Action Program report directly through FltPlan SMS.
All these enhancements and their benefits are expected to bolster the adoption of FltPlan SMS.
We believe that Garmin’s strong endeavors toward bolstering its aviation segment, which offers integrated avionics or flight decks, panel-mounted navigation, traffic, audio, transponder, weather, and other products like portable and wearable solutions, will continue to drive its momentum among various flight owners and pilots.
Garmin’s family of autonomous safety solutions — Garmin Autonomi, which comprises Emergency Descent Mode, and Electronic Stability and Protection and Autoland — has emerged as a key catalyst for its aviation business.
A robust flight display portfolio has been playing a crucial role in shaping the growth trajectory of Garmin’s aviation business.
The company enjoys solid momentum across OEM categories on the back of its popular aviation solutions.
However, weakening demand in aftermarket categories remains a major headwind for the segment.
In fourth-quarter 2023, the underlined segment generated sales of $217.13 million (14.7% of the total sales), increasing 3.6% on a year-over-year basis.
For 2024, Garmin expects aviation revenues to be flat with the 2023 reported level.
Strengthening Portfolio Offerings
Garmin’s expanding aviation offerings are, in turn, strengthening its overall product portfolio. Its portfolio strength remains the key growth driver for the company. Its shares have gained 52% in the past year, outperforming the industry’s rally of 41.1%.
Recently, Garmin launched the Forerunner 165 Series, an affordable GPS-running smartwatch featuring personalized training plans and health metrics on a bright AMOLED display.
It introduced the Panoptix PS70, a live sonar system powered by Garmin RapidReturn technology, providing real-time underwater visibility at greater depths.
Further, Garmin unveiled the GPSMAP 16x3 chart plotters, featuring a high-resolution 16-inch touchscreen display with built-in navigation and sonar support to offer superior clarity and sunlight readability, even with polarized sunglasses.
Additionally, the company introduced affordable COMM and NAV/COMM radios with a slim 1.3-inch bezel height form factor, featuring a full-color LCD display, intuitive user interface and worldwide frequency database.
Garmin’s growing endeavors to expand its portfolio are expected to continue aiding its overall financial performance in the near term.
GRMN expects revenues of $5.75 billion for 2024, indicating year-over-year growth of 10%. The Zacks Consensus Estimate for 2024 revenues is pegged at $5.77 billion, indicating year-over-year growth of 10.4%.
Image: Bigstock
Garmin (GRMN) Boosts Aviation Business With FltPlan SMS Updates
Garmin (GRMN - Free Report) is leaving no stone unturned to strengthen its aviation segment on the back of strong inflight offerings.
This is evident from the latest advancements in the FltPlan safety management system (SMS), which now comes with updated features of the Flight Risk Assessment Tool (FRAT).
The company has made flight risk assessment submissions simple to save pilots’ time in data input so that they can quickly complete a FRAT before a flight. The new FRAT is designed to input data regarding a flight, such as weather, terrain and runway conditions, automatically.
This way pilots will now be able to get flight risk score and risk mitigation strategies seamlessly. Also, the redesigned FRAT can be customized for different pilots and aircraft.
In addition, FltPlan SMS shows a safety performance dashboard, which allows operators to monitor safety performance indicators easily. It also helps in the identification of areas that require safety enhancements.
Apart from this, employees of participating flight departments can file an Aviation Safety Action Program report directly through FltPlan SMS.
All these enhancements and their benefits are expected to bolster the adoption of FltPlan SMS.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Aviation in Focus
We believe that Garmin’s strong endeavors toward bolstering its aviation segment, which offers integrated avionics or flight decks, panel-mounted navigation, traffic, audio, transponder, weather, and other products like portable and wearable solutions, will continue to drive its momentum among various flight owners and pilots.
Garmin’s family of autonomous safety solutions — Garmin Autonomi, which comprises Emergency Descent Mode, and Electronic Stability and Protection and Autoland — has emerged as a key catalyst for its aviation business.
A robust flight display portfolio has been playing a crucial role in shaping the growth trajectory of Garmin’s aviation business.
The company enjoys solid momentum across OEM categories on the back of its popular aviation solutions.
However, weakening demand in aftermarket categories remains a major headwind for the segment.
In fourth-quarter 2023, the underlined segment generated sales of $217.13 million (14.7% of the total sales), increasing 3.6% on a year-over-year basis.
For 2024, Garmin expects aviation revenues to be flat with the 2023 reported level.
Strengthening Portfolio Offerings
Garmin’s expanding aviation offerings are, in turn, strengthening its overall product portfolio. Its portfolio strength remains the key growth driver for the company. Its shares have gained 52% in the past year, outperforming the industry’s rally of 41.1%.
Recently, Garmin launched the Forerunner 165 Series, an affordable GPS-running smartwatch featuring personalized training plans and health metrics on a bright AMOLED display.
It introduced the Panoptix PS70, a live sonar system powered by Garmin RapidReturn technology, providing real-time underwater visibility at greater depths.
Further, Garmin unveiled the GPSMAP 16x3 chart plotters, featuring a high-resolution 16-inch touchscreen display with built-in navigation and sonar support to offer superior clarity and sunlight readability, even with polarized sunglasses.
Additionally, the company introduced affordable COMM and NAV/COMM radios with a slim 1.3-inch bezel height form factor, featuring a full-color LCD display, intuitive user interface and worldwide frequency database.
Garmin’s growing endeavors to expand its portfolio are expected to continue aiding its overall financial performance in the near term.
GRMN expects revenues of $5.75 billion for 2024, indicating year-over-year growth of 10%. The Zacks Consensus Estimate for 2024 revenues is pegged at $5.77 billion, indicating year-over-year growth of 10.4%.
Zacks Rank & Stocks to Consider
Garmin currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are CrowdStrike (CRWD - Free Report) , Badger Meter (BMI - Free Report) and AMETEK (AME - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of CrowdStrike have gained 25.7% in the year-to-date period. The long-term earnings growth rate for CRWD is 36.07%
Shares of Badger Meter have gained 2.2% in the year-to-date period. The long-term earnings growth rate for BMI is 12.27%.
Shares of AMETEK have gained 8.4% in the year-to-date period. The long-term earnings growth rate for AME is 9.19%.