| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 1.8K | 2.4% | 11.7% |
| Total Income | 1.8K | 2.4% | 11.7% |
| Expenditure | 1.3K | 2.1% | 14.4% |
| PBT | 509.82 | 6.2% | 4.8% |
| Net Profit | 401.62 | 0.2% | 0.6% |
| OPM | 25.80% | 0.23pp | 1.79pp |
| NPM | 22.68% | 0.59pp | 2.49pp |
| EPS | 2.09 | 0.5% | 0.5% |
Garmin Announces Record Q3 2025 Revenue of $1.8 Billion, Up 12% YoY
04 May 2026 · 4 May, 8:33 am
Summary
Garmin Ltd. announced strong financial results for the third quarter of 2025, with record consolidated revenue of approximately $1.8 billion, a 12% increase year-over-year. The company's operating income also reached a record $457 million, up 4% compared to the prior year quarter. Garmin is updating its full year 2025 guidance, projecting revenue of approximately $7.10 billion and pro forma EPS of $8.15. Cliff Pemble, President and CEO, noted the strength of Garmin's diversified business model and expressed confidence for the holiday selling season.
Key Highlights
- 1
Garmin reported record consolidated revenue of approximately $1.8 billion in the third quarter of 2025, a 12% increase compared to the prior year quarter.
- 2
The company achieved gross and operating margins of 59.1% and 25.8%, respectively, in Q3 2025.
- 3
Operating income reached a record $457 million, representing a 4% increase compared to the third quarter of the previous year.
- 4
GAAP EPS was $2.08, while pro forma EPS was $1.99, remaining flat compared to the prior year quarter.
- 5
Revenue from the fitness segment increased by 30% in the third quarter, driven by strong demand for advanced wearables.
- 6
The aviation segment experienced an 18% revenue increase in the third quarter, with growth in both OEM and aftermarket product categories.
- 7
Garmin is updating its full year 2025 guidance, anticipating revenue of approximately $7.10 billion and pro forma EPS of $8.15.
Management Comments
Cliff Pemble
“We achieved another quarter of strong financial results with growth in both consolidated revenue and operating income, and we experienced strong double-digit revenue growth in three business segments reflecting the strength of our unique, diversified business model. Looking ahead, we are well positioned for the holiday selling season with a strong lineup of innovative products.”
Informational and educational content only. Not investment advice.