2024

Stellar

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">In the latest <a aria-label="financial disclosures (opens in a new tab)" href="https://www.prnewswire.com/news-releases/garmin-announces-fourth-quarter-and-fiscal-year-2023-results-302067000.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">financial disclosures</a>, Garmin Ltd. (NYSE: GRMN) has outpaced industry forecasts, showcasing a robust performance for the fourth quarter ended December 30, 2023. The company reported a consolidated revenue of $1.48 billion, marking a 13% increase from the previous year. This growth was driven by significant achievements across various segments, including a 27% increase in operating income to $340 million and a gross margin expansion to 58.3% from 57.0%.</p> 
<p>Notably, Garmin’s GAAP EPS stood at $2.82, with pro forma EPS at $1.72, representing a 27% growth over the prior year quarter.</p> 
<h3 id="garmin-outperforms-expectations-in-q4">Garmin Outperforms Expectations in Q4</h3> 
<p>Comparing Garmin’s current performance to the anticipated figures, the company has significantly exceeded expectations. Analysts had projected earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) of $1.4 and revenue of $1.43 billion for the quarter. Garmin’s actual revenue of $1.48 billion and pro forma EPS of $1.72 outstrip these forecasts, underlining the company’s ability to outperform in a challenging market environment. This overachievement is attributed to robust product demand across Garmin’s diverse portfolio, including fitness wearables, outdoor adventure watches, and marine electronics</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="guidance">Guidance</h3> 
<p>Looking ahead, Garmin provides optimistic guidance for the fiscal year 2024, with expectations of approximately $5.75 billion in revenue, indicating a 10% increase over 2023. The company also anticipates a pro forma EPS of roughly $5.40, based on an estimated gross margin of 56.5% and an operating margin of around 20.0%. This forward-looking stance reflects Garmin’s confidence in its product pipeline and strategic initiatives to sustain growth and market expansion.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/garmin-ltd-grmn-surges-ahead-with-stellar-q4-results-and-bright-outlook-for-2024/">Garmin Ltd. (GRMN) Surges Ahead with Stellar Q4 Results and Bright Outlook for 2024</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Garmin Ltd. (GRMN) Surges Ahead with Stellar Q4 Results and Bright Outlook for 2024

Table of Contents

Tokenist

Other articles published on Feb 21, 2024

Ether (ETH) to outperform Bitcoin (BTC) in Coming Months: Bloomberg

CoinMarketCap Introduces First-Ever Crypto Awards

19.8 Billion SHIB Moved to Major Exchanges as Price Makes Unexpected Move

Adobe Introduces AI Assistant to Revolutionize PDF Experience

Ethereum Breaks $3,000, Marking a Two-Year High

Seamless Cross-chain Activity is the Next Frontier of Crypto Interoperability

Join our free newsletter for daily crypto updates!