Garmin Ltd.
Garmin Reports Record Third Quarter 2024 Results and Raises Full Year Guidance
Summary
Garmin Ltd. announced its financial results for the fiscal third quarter ended September 28, 2024, reporting record consolidated revenue of $1.59 billion, a 24% increase compared to the prior year. The company achieved an operating income of $437 million, a 62% increase year-over-year. Garmin also raised its full-year 2024 guidance, anticipating revenue of approximately $6.12 billion and pro forma EPS of $6.85.
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About Garmin Ltd.
Garmin Ltd. is a global leader in the design and manufacture of navigation, communication, and information devices. Primarily recognized for its GPS technology, Garmin’s offerings span various sectors, including aviation, marine, automotive, fitness, and outdoor recreation. The company's products cater to diverse customers by providing innovative solutions like satellite navigation systems for cars, wearable fitness trackers for health enthusiasts, fish finders for marine applications, and avionics for aircraft. Founded in 1989 and headquartered in Switzerland, Garmin's commitment to highly precise and user-friendly products has cemented its role in enhancing personal navigation and fitness monitoring. Its influence extends across sectors by not only improving safety and efficiency but also by promoting active lifestyles globally. Garmin's strategic integration of advanced technology with practical applications makes it a pivotal player in both consumer electronics and professional device markets.
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