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Garmin (GRMN) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
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In its upcoming report, Garmin (GRMN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.96 per share, reflecting an increase of 24.1% compared to the same period last year. Revenues are forecasted to be $1.74 billion, representing a year-over-year increase of 15.3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Garmin metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Net Sales- Marine' will reach $296.34 million. The estimate indicates a change of +8.6% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Aviation' at $242.18 million. The estimate points to a change of +11% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Fitness' reaching $513.54 million. The estimate suggests a change of +19.9% year over year.
The combined assessment of analysts suggests that 'Net Sales- Outdoor' will likely reach $519.45 million. The estimate suggests a change of +18.1% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Auto OEM' of $166.39 million. The estimate indicates a change of +13.1% from the prior-year quarter.
Analysts expect 'Operating income (loss)- Outdoor' to come in at $185.99 million. The estimate compares to the year-ago value of $135.59 million.
According to the collective judgment of analysts, 'Operating income (loss)- Fitness' should come in at $140.32 million. Compared to the present estimate, the company reported $107.61 million in the same quarter last year.
The consensus among analysts is that 'Operating income (loss)- Marine' will reach $58.30 million. Compared to the current estimate, the company reported $59.89 million in the same quarter of the previous year.
The consensus estimate for 'Gross profit- Fitness' stands at $298.72 million. The estimate is in contrast to the year-ago figure of $245.25 million.
Analysts forecast 'Gross profit- Marine' to reach $162.48 million. Compared to the current estimate, the company reported $147.79 million in the same quarter of the previous year.
It is projected by analysts that the 'Gross profit- Aviation' will reach $181.00 million. Compared to the present estimate, the company reported $161.37 million in the same quarter last year.
Based on the collective assessment of analysts, 'Gross profit- Outdoor' should arrive at $332.14 million. The estimate is in contrast to the year-ago figure of $284.21 million.
Over the past month, shares of Garmin have returned +13% versus the Zacks S&P 500 composite's +4.6% change. Currently, GRMN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Garmin (GRMN) Q2 Earnings Preview: What You Should Know Beyond the Headline Estimates
In its upcoming report, Garmin (GRMN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.96 per share, reflecting an increase of 24.1% compared to the same period last year. Revenues are forecasted to be $1.74 billion, representing a year-over-year increase of 15.3%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Garmin metrics that Wall Street analysts commonly model and monitor.
Analysts predict that the 'Net Sales- Marine' will reach $296.34 million. The estimate indicates a change of +8.6% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Aviation' at $242.18 million. The estimate points to a change of +11% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Fitness' reaching $513.54 million. The estimate suggests a change of +19.9% year over year.
The combined assessment of analysts suggests that 'Net Sales- Outdoor' will likely reach $519.45 million. The estimate suggests a change of +18.1% year over year.
The collective assessment of analysts points to an estimated 'Net Sales- Auto OEM' of $166.39 million. The estimate indicates a change of +13.1% from the prior-year quarter.
Analysts expect 'Operating income (loss)- Outdoor' to come in at $185.99 million. The estimate compares to the year-ago value of $135.59 million.
According to the collective judgment of analysts, 'Operating income (loss)- Fitness' should come in at $140.32 million. Compared to the present estimate, the company reported $107.61 million in the same quarter last year.
The consensus among analysts is that 'Operating income (loss)- Marine' will reach $58.30 million. Compared to the current estimate, the company reported $59.89 million in the same quarter of the previous year.
The consensus estimate for 'Gross profit- Fitness' stands at $298.72 million. The estimate is in contrast to the year-ago figure of $245.25 million.
Analysts forecast 'Gross profit- Marine' to reach $162.48 million. Compared to the current estimate, the company reported $147.79 million in the same quarter of the previous year.
It is projected by analysts that the 'Gross profit- Aviation' will reach $181.00 million. Compared to the present estimate, the company reported $161.37 million in the same quarter last year.
Based on the collective assessment of analysts, 'Gross profit- Outdoor' should arrive at $332.14 million. The estimate is in contrast to the year-ago figure of $284.21 million.
View all Key Company Metrics for Garmin here>>>Over the past month, shares of Garmin have returned +13% versus the Zacks S&P 500 composite's +4.6% change. Currently, GRMN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .