| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 2.0K | 15.3% | 11.4% |
| Total Income | 2.0K | 15.3% | 11.4% |
| Expenditure | 1.4K | 6.4% | 4.8% |
| PBT | 651.06 | 37.8% | 35.6% |
| Net Profit | 541.92 | 33.8% | 35.2% |
| OPM | 30.44% | 5.82pp | 4.41pp |
| NPM | 26.80% | 3.70pp | 4.71pp |
| EPS | 2.81 | 33.8% | 35.1% |
Garmin Announces Q2 2026 Results, Reports Record Revenue and Raises Full Year Guidance
29 Jul 2026 · 29 Jul, 4:31 pm
Summary
Garmin Ltd. reported record second quarter operating results for Q2 2026, with consolidated revenue reaching approximately $2.02 billion, an 11% increase year-over-year. The company achieved record operating income of $616 million, a 30% increase, driven by robust margin expansion to 62.4% for gross margin and 30.4% for operating margin. Each business segment contributed to these strong results, leading Garmin to raise its full-year 2026 guidance for consolidated revenue and EPS. The company also highlighted strategic acquisitions and new product unveilings, including the AXIS flight display family and the CIRQA Smart Band.
Key Highlights
- 1
Garmin Ltd. announced record consolidated revenue of approximately $2.02 billion for the second quarter of 2026, an 11% increase compared to the prior year quarter.
- 2
Gross and operating margins expanded to 62.4% and 30.4% respectively in Q2 2026, compared to the prior year quarter.
- 3
Operating income reached a record $616 million in the second quarter of 2026, a 30% increase compared to the prior year quarter.
- 4
GAAP EPS was $2.80 and pro forma EPS was $2.81 for Q2 2026, representing a 29% increase in pro forma EPS compared to the prior year quarter.
- 5
The company completed the strategic acquisition of TrainingPeaks® and TrainHeroic®, leading training platforms for athletes and coaches.
- 6
Garmin unveiled AXIS™, an all-new highly scalable family of flight displays.
- 7
The CIRQATM Smart Band, Garmin's first screenless smart band with health and wellness features, was announced.
Management Comments
Cliff Pemble
We delivered another quarter of outstanding financial results with double-digit revenue growth and robust margin expansion, which resulted in record revenue and operating income. Each business segment contributed to these impressive results. Our performance in the first half of 2026 was very strong giving us confidence to raise our full year 2026 consolidated revenue and EPS guidance.
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