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Garmin (GRMN) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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In its upcoming report, Garmin (GRMN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.38 per share, reflecting an increase of 19.6% compared to the same period last year. Revenues are forecasted to be $1.99 billion, representing a year-over-year increase of 12.3%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Garmin metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Net Sales- Marine' should come in at $299.00 million. The estimate indicates a change of +12% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Aviation' at $257.85 million. The estimate points to a change of +7.2% from the year-ago quarter.
Analysts predict that the 'Net Sales- Fitness' will reach $728.55 million. The estimate indicates a year-over-year change of +21.2%.
The consensus among analysts is that 'Net Sales- Outdoor' will reach $545.66 million. The estimate indicates a year-over-year change of +9.7%.
It is projected by analysts that the 'Net Sales- Auto OEM' will reach $158.08 million. The estimate indicates a year-over-year change of -4.1%.
The consensus estimate for 'Operating income (loss)- Outdoor' stands at $182.83 million. Compared to the present estimate, the company reported $169.73 million in the same quarter last year.
Analysts expect 'Operating income (loss)- Fitness' to come in at $227.42 million. Compared to the current estimate, the company reported $193.60 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Operating income (loss)- Marine' will likely reach $57.94 million. The estimate compares to the year-ago value of $49.40 million.
Analysts forecast 'Gross profit- Fitness' to reach $432.34 million. Compared to the current estimate, the company reported $362.85 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Gross profit- Marine' of $165.21 million. The estimate is in contrast to the year-ago figure of $148.24 million.
Based on the collective assessment of analysts, 'Gross profit- Aviation' should arrive at $191.92 million. The estimate is in contrast to the year-ago figure of $180.71 million.
Analysts' assessment points toward 'Gross profit- Outdoor' reaching $354.63 million. The estimate compares to the year-ago value of $329.75 million.
Over the past month, shares of Garmin have returned +0.1% versus the Zacks S&P 500 composite's -1.2% 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 >>>> .
View the Zacks #1 Rank List
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Garmin (GRMN) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
In its upcoming report, Garmin (GRMN - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.38 per share, reflecting an increase of 19.6% compared to the same period last year. Revenues are forecasted to be $1.99 billion, representing a year-over-year increase of 12.3%.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Garmin metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Net Sales- Marine' should come in at $299.00 million. The estimate indicates a change of +12% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Aviation' at $257.85 million. The estimate points to a change of +7.2% from the year-ago quarter.
Analysts predict that the 'Net Sales- Fitness' will reach $728.55 million. The estimate indicates a year-over-year change of +21.2%.
The consensus among analysts is that 'Net Sales- Outdoor' will reach $545.66 million. The estimate indicates a year-over-year change of +9.7%.
It is projected by analysts that the 'Net Sales- Auto OEM' will reach $158.08 million. The estimate indicates a year-over-year change of -4.1%.
The consensus estimate for 'Operating income (loss)- Outdoor' stands at $182.83 million. Compared to the present estimate, the company reported $169.73 million in the same quarter last year.
Analysts expect 'Operating income (loss)- Fitness' to come in at $227.42 million. Compared to the current estimate, the company reported $193.60 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Operating income (loss)- Marine' will likely reach $57.94 million. The estimate compares to the year-ago value of $49.40 million.
Analysts forecast 'Gross profit- Fitness' to reach $432.34 million. Compared to the current estimate, the company reported $362.85 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Gross profit- Marine' of $165.21 million. The estimate is in contrast to the year-ago figure of $148.24 million.
Based on the collective assessment of analysts, 'Gross profit- Aviation' should arrive at $191.92 million. The estimate is in contrast to the year-ago figure of $180.71 million.
Analysts' assessment points toward 'Gross profit- Outdoor' reaching $354.63 million. The estimate compares to the year-ago value of $329.75 million.
View all Key Company Metrics for Garmin here>>>Over the past month, shares of Garmin have returned +0.1% versus the Zacks S&P 500 composite's -1.2% 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 >>>> .