Quarterly ResultApr 29, 2026, 07:03 AM
GRMN Q1 Net Sales +14.2% to $1.75B; Net Income +21.7% to $405.1M; EPS $2.09
AI Summary
Garmin Ltd. reported strong first-quarter 2026 results with net sales increasing 14.2% to $1.75 billion and net income rising 21.7% to $405.1 million. Diluted EPS grew 21.5% to $2.09. The company also announced a new $500 million share repurchase program, replacing the terminated 2024 program. Operating income saw a significant increase of 29.7% to $431.7 million.
Key Highlights
- GRMN approved a new $500 million share repurchase program, replacing the prior program.
- Q1 2026 net sales increased 14.2% to $1.75 billion from $1.54 billion in Q1 2025.
- Q1 2026 net income rose 21.7% to $405.1 million from $332.8 million in Q1 2025.
- Q1 2026 diluted EPS increased 21.5% to $2.09 from $1.72 in Q1 2025.
- Operating income for Q1 2026 grew 29.7% to $431.7 million from $332.8 million.
- Fitness segment net sales were $546.8 million, and Marine segment net sales were $355.0 million.
- Net cash provided by operating activities was $536.0 million, up from $420.8 million.
- Cash and cash equivalents stood at $2.29 billion as of March 28, 2026.
Price Impact
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