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Garmin's (GRMN) Q2 Earnings and Revenues Beat Estimates

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Garmin, Ltd. (GRMN - Free Report) is an original equipment manufacturer (OEM) of navigation and communication equipment that incorporate the global positioning system (GPS)-based technology.

Garmin is currently riding high on product line expansion. Recently, the company started shipping fenix 5 series with three designs, G1000 NXi integrated flight deck, new touchscreen and keyed chartplotter combo offerings and inReach handhelds. Garmin also launched Forerunner 935 multisport watch, and introduced the vívosmart 3 with all-day stress tracking.

Management focuses on continued innovation, diversification and market expansion to explore growth opportunities in all business segments.

Due to this, investors are eagerly awaiting Garmin’s earnings report in order to set the record straight and to give some guidance on where this company is heading and are these factors effectively contributing.

Garmin Ltd. Price

Over the past month, the stock has witnessed no estimate revisions for the second quarter 2017.

Currently, Garmin has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: GRMN reported earnings of 88 cents which exceeded The Zacks Consensus Estimate of 81 cents.

Revenue: Garmin beats on revenues. It posted revenues of $817 million, compared to our consensus estimate of $804 million.

Key Stats: The company’s top-line performance was mainly driven by its fitness, outdoor, marine and aviation products.

Check back later for our full write up on this GRMN earnings report later!

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