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Garmin (GRMN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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Garmin (GRMN - Free Report) reported $1.75 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 14.2%. EPS of $2.08 for the same period compares to $1.61 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.72 billion, representing a surprise of +1.84%. The company delivered an EPS surprise of +13.04%, with the consensus EPS estimate being $1.84.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

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: $355.02 million versus the three-analyst average estimate of $363.54 million. The reported number represents a year-over-year change of +11.1%.
  • Net Sales- Aviation: $263.84 million compared to the $251.11 million average estimate based on three analysts. The reported number represents a change of +18.3% year over year.
  • Net Sales- Fitness: $546.82 million versus the three-analyst average estimate of $477.1 million. The reported number represents a year-over-year change of +42.1%.
  • Net Sales- Outdoor: $417.53 million compared to the $456.64 million average estimate based on three analysts. The reported number represents a change of -4.8% year over year.
  • Net Sales- Auto OEM: $170.28 million versus $173.42 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.6% change.
  • Operating income (loss)- Outdoor: $118.79 million compared to the $142.92 million average estimate based on three analysts.
  • Operating income (loss)- Fitness: $157.62 million compared to the $138.38 million average estimate based on three analysts.
  • Operating income (loss)- Marine: $90.76 million versus $72.11 million estimated by three analysts on average.
  • Operating income (loss)- Auto OEM: $-6.44 million versus the three-analyst average estimate of $-15.29 million.
  • Gross profit- Fitness: $338.52 million compared to the $280.94 million average estimate based on three analysts.
  • Gross profit- Marine: $197.38 million versus the three-analyst average estimate of $200 million.
  • Gross profit- Aviation: $197.31 million versus the three-analyst average estimate of $189.51 million.

View all Key Company Metrics for Garmin here>>>

Shares of Garmin have returned +6.8% over the past month versus the Zacks S&P 500 composite's +12.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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