Welcome to our dedicated page for Garmin news (Ticker: GRMN), a resource for investors and traders seeking the latest updates and insights on Garmin stock.
Garmin Ltd. (NYSE: GRMN) is a globally recognized leader in the development of GPS-enabled hardware and software across five verticals: fitness, outdoors, auto, aviation, and marine. Established in 1989 in Kansas City, Garmin has grown exponentially, maintaining its entrepreneurial spirit while fostering a culture where every voice counts. This ethos drives the company’s innovative spirit, making technology accessible and meaningful to a global audience.
Garmin’s product portfolio includes a wide range of devices tailored to meet the needs of various niche activities such as scuba diving, sailing, and off-road adventures. The company’s GPS systems are known for their reliability and precision, making them favorites among athletes, outdoor enthusiasts, and professionals alike. Garmin's presence is truly global, with operations in over 100 countries and a diverse network of distributors and original equipment manufacturer (OEM) partnerships.
Recently, Garmin has made significant strides in expanding its offerings and enhancing product capabilities. For instance, the company’s Unified Cabin™ automotive suite was showcased at CES 2024, featuring advanced technologies like Dolby Atmos audio, zoned voice assistance, and improved device connectivity. Garmin's collaboration with leading automobile manufacturers such as BMW, Daimler, Ford, and Honda further underscores its commitment to innovation and quality.
In the marine segment, Garmin launched the Panoptix™ PS70, a groundbreaking live sonar device capable of providing real-time views at depths of up to 1,000 feet. This technology offers a video-like experience with rapid updates, setting a new standard for deep-sea sportfishing. The company's marine products continue to revolutionize the industry, earning accolades and solidifying Garmin's position as a market leader.
Financially, Garmin is robust, consistently achieving record revenue in multiple segments. In 2023, the company reported record full-year revenue across three of its five segments, driven by the successful launch of new products and strong market demand. Garmin’s financial health is further highlighted by its significant operating cash flow and a well-maintained dividend policy, ensuring long-term value for shareholders.
Garmin’s future projects and partnerships are indicative of its forward-looking strategy. The company continues to collaborate with industry leaders like Kawasaki and Vuzix to integrate advanced technologies into its offerings, ensuring that it remains at the forefront of innovation in the tech world.
Garmin (NYSE: GRMN) announced its Unified Cabin™ domain controller has been named a CES® 2025 Innovation Award Honoree in the in-vehicle entertainment category. The solution offers automakers a scalable portfolio of technologies providing personalized infotainment experiences. Built on Android Automotive Operating System, it features AI-driven customization, remembering passenger preferences and managing entertainment settings through a single control module. The system will showcase new features at CES 2025, including enhanced theming options and generative AI integrations.
Garmin's inReach Messenger Plus has been awarded the prestigious 2025 CES Best of Innovation award in the Mobile Devices, Accessories & Apps category. The device stands out among over 3,400 submissions, with less than 1% receiving this honor. This innovative satellite communicator features photo and voice messaging capabilities, along with global two-way texting, location sharing, and SOS functionalities.
The device offers weeks of battery life and can be used standalone or paired with the Garmin Messenger mobile app. In emergencies, it connects to Garmin Response, a 24/7 international emergency assistance center, allowing users to share photo and voice messages during SOS situations. Garmin's inReach technology has already contributed to over 15,000 SOS activations.
Garmin (NYSE: GRMN) has been awarded the prestigious Laureate Award in the Business Aviation category from Aviation Week Network for its innovative Runway Occupancy Awareness (ROA) technology. The ROA system is the first certified solution designed to prevent runway incursions by monitoring nearby aircraft and ground vehicles using Surface Indications and Alert (SURF-IA) technology and ADS-B traffic monitoring.
The technology provides visual and aural alerts to flight crews about potential runway hazards, using Garmin's Synthetic Vision Technology to highlight threats on the pilot's primary flight display. The system has received FAA certification for use in Textron Aviation's G1000® NXi-equipped Cessna Caravan and Garmin's G5000® STC for various Citation models.
Garmin (NYSE: GRMN) has launched the Descent X50i, its largest dive computer featuring a 3-inch color touchscreen display. The device includes advanced features such as SubWave sonar technology for underwater communication, diver-to-diver messaging, and tank pressure monitoring for up to eight divers. With a 20 ATM dive rating, integrated backup dive light, and leakproof metal buttons, the X50i offers comprehensive diving capabilities. The device includes preloaded bathymetric depth contours, over 4,000 dive sites worldwide, and advanced navigation features. The Descent X50i is priced at $1,499.99.
Garmin (NYSE: GRMN) announces that its brand JL Audio has received an Innovation Award from Home Technology Specialists of America (HTSA) for its Pavilion outdoor speaker line. The award, presented at HTSA's 2024 Fall Conference, recognizes exceptional performance and quality in home technology. The Pavilion speakers are designed to project loudly over ambient noise while maintaining sound quality, and undergo marine-grade testing to ensure durability. Available in three sizes, these in-ceiling speakers can be installed in various outdoor ceiling materials.
Garmin (NYSE: GRMN) has launched the Approach R50, a premium launch monitor and golf simulator featuring a 10-inch color touchscreen display and over 43,000 preloaded golf courses worldwide. The device utilizes three cameras to track more than 15 ball and club metrics, including spin rate and spin axis. The R50 offers indoor virtual golfing capabilities with enhanced Home Tee Hero simulator, allowing up to four players to participate and compete in weekly tournaments. The device provides high-speed impact videos, comprehensive stat tracking, and compatibility with third-party simulators like GSPro and E6 Connect. Priced at $4,999.99, it features built-in Wi-Fi, four-hour battery life, and comes with a carrying case.
Garmin (NYSE: GRMN) has unveiled the Tread 2, a rugged off-road navigator designed for powersports enthusiasts. The device features a 6-inch ultrabright touchscreen display, IP67 dust/water rating, and comprehensive navigation tools including topographic maps, satellite imagery, and trail mapping capabilities. Priced at $699.99, the Tread 2 comes with built-in sensors for altitude, barometer, and compass readings. A new Handlebar Controller, sold separately at $149.99, offers convenient device control from vehicle handlebars. The system supports group tracking features and can integrate with inReach satellite communication devices for emergency assistance.
Garmin (GRMN) reported strong Q3 2024 results with record consolidated revenue of $1.59 billion, up 24% year-over-year. Operating income reached $437 million, a 62% increase, with expanded gross and operating margins of 60.0% and 27.6% respectively. GAAP EPS was $2.07, while pro forma EPS grew 41% to $1.99.
All segments showed growth, led by Auto OEM (+53%), Fitness (+31%), and Marine (+22%). The company raised its full year 2024 guidance, now expecting revenue of approximately $6.12 billion with pro forma EPS of $6.85.
Garmin (NYSE: GRMN) has acquired Lumishore, a privately-held company specializing in high-performance LED lighting systems for boats. Lumishore, with over 15 years of experience, offers premium LED lighting solutions for various vessels, from runabouts to superyachts. The acquisition brings a new product category that complements Garmin's existing marine portfolio and enhances vessel integration capabilities.
Lumishore, headquartered in Swansea, UK, with a distribution center in Sarasota, Florida, is known for its comprehensive range of single, dual, and full-color change underwater and above-water lighting systems. The company's associates will join Garmin's global workforce. While financial terms were not disclosed, this acquisition is expected to expand Garmin's innovative solutions across vessels and elevate the lighting experience for customers worldwide.
Garmin (NYSE: GRMN) has unveiled G3000 PRIME, its most advanced integrated flight deck to date. This FAA TSO certified system features 14-inch touchscreen primary display units with edge-to-edge glass and 7-inch secondary display units. G3000 PRIME offers enhanced processing power, a modern user interface, and advanced flight tools including Modified Flight Plan and Emergency Return functions.
The system incorporates Garmin's Autonomí technologies, including the Collier Trophy-winning Autoland system, as well as Smart Glide, Smart Rudder Bias, and Garmin Autothrottle. It also features terminal safety solutions like Runway Occupancy Awareness and connectivity options such as Wi-Fi, LTE, and Bluetooth. G3000 PRIME is designed to serve Part 23 turbine, military, and advanced air mobility markets.
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