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Garmin (GRMN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Garmin (GRMN - Free Report) reported $1.59 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 24.2%. EPS of $1.99 for the same period compares to $1.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of +9.81%. The company delivered an EPS surprise of +36.30%, with the consensus EPS estimate being $1.46.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Fitness: $463.89 million compared to the $400.67 million average estimate based on three analysts. The reported number represents a change of +31.4% year over year.
Net Sales- Outdoor: $526.55 million versus $470.71 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.3% change.
Net Sales- Auto OEM: $168.71 million compared to the $165.87 million average estimate based on three analysts. The reported number represents a change of +53.2% year over year.
Net Sales- Marine: $222.24 million versus $208.85 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22% change.
Net Sales- Aviation: $204.63 million versus $197.35 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
Operating income- Outdoor: $208.87 million compared to the $150.16 million average estimate based on three analysts.
Operating income- Fitness: $147.77 million versus $83.01 million estimated by three analysts on average.
Operating income- Marine: $37.84 million versus the three-analyst average estimate of $35.79 million.
Operating income- Auto OEM: -$1.28 million compared to the -$9.71 million average estimate based on three analysts.
Gross profit- Fitness: $283.33 million versus the three-analyst average estimate of $228.47 million.
Gross profit- Marine: $122.43 million compared to the $107.51 million average estimate based on three analysts.
Gross profit- Aviation: $154.14 million compared to the $146.81 million average estimate based on three analysts.
Shares of Garmin have returned -3.7% over the past month versus the Zacks S&P 500 composite's +1.8% 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) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Garmin (GRMN - Free Report) reported $1.59 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 24.2%. EPS of $1.99 for the same period compares to $1.41 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.44 billion, representing a surprise of +9.81%. The company delivered an EPS surprise of +36.30%, with the consensus EPS estimate being $1.46.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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- Fitness: $463.89 million compared to the $400.67 million average estimate based on three analysts. The reported number represents a change of +31.4% year over year.
- Net Sales- Outdoor: $526.55 million versus $470.71 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.3% change.
- Net Sales- Auto OEM: $168.71 million compared to the $165.87 million average estimate based on three analysts. The reported number represents a change of +53.2% year over year.
- Net Sales- Marine: $222.24 million versus $208.85 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22% change.
- Net Sales- Aviation: $204.63 million versus $197.35 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.3% change.
- Operating income- Outdoor: $208.87 million compared to the $150.16 million average estimate based on three analysts.
- Operating income- Fitness: $147.77 million versus $83.01 million estimated by three analysts on average.
- Operating income- Marine: $37.84 million versus the three-analyst average estimate of $35.79 million.
- Operating income- Auto OEM: -$1.28 million compared to the -$9.71 million average estimate based on three analysts.
- Gross profit- Fitness: $283.33 million versus the three-analyst average estimate of $228.47 million.
- Gross profit- Marine: $122.43 million compared to the $107.51 million average estimate based on three analysts.
- Gross profit- Aviation: $154.14 million compared to the $146.81 million average estimate based on three analysts.
View all Key Company Metrics for Garmin here>>>Shares of Garmin have returned -3.7% over the past month versus the Zacks S&P 500 composite's +1.8% 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.