Garmin Stock Price, News & Analysis

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.

Garmin (NYSE: GRMN) has been awarded the 2024 National Boating Safety Award by the Sea Tow Foundation for the fourth consecutive year. The award, presented on October 2, 2024, recognizes Garmin's outstanding commitment to promoting safe and responsible boating practices.

Garmin received top honors in the Gear and Equipment Manufacturer category for its efforts during National Safe Boating Week 2024. The company's initiatives included educational social media posts, informative blog content, and a special marine webinar demonstrating the use of Garmin electronics and emphasizing the importance of map updates.

Jarrod Seymour, Garmin Vice President and Marine Segment Leader, expressed pride in the company's commitment to creating products that support safe boating practices. Garmin's range of marine products, including inReach satellite communicators, charts, AIS monitoring, and marine radars, have long provided boaters with enhanced situational awareness and peace of mind.

Garmin (NYSE: GRMN) has been named the Most Innovative Marine Company for the second consecutive year by Soundings Trade Only, a leading trade publication for the recreational boating industry. The award was announced at the International BoatBuilders' Exhibition and Conference (IBEX) held Oct. 1-3. This marks Garmin's seventh consecutive year in the Top 5 companies.

The awards program evaluates companies in key innovation categories, including altruism/social awareness, development & technology, workforce culture, manufacturing process/supply chains, start-up mentality, and sustainability. Judges commended Garmin's commitment to purpose-driven innovations in people, processes, and products.

Garmin's Vice President and Marine Segment Leader, Jarrod Seymour, expressed pride in the team's dedication to providing continuous value through new ideas and game-changing technologies.