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) has been recognized as the 2022 'Best of the Best' Supplier by Embraer, awarded on April 18, 2023, during the Suppliers Conference in Brazil. Garmin's G3000 Prodigy Touch flight deck systems for the Phenom 100EV and Phenom 300E earned top honors in Systems and Services & Support categories. This marks the eighth consecutive year Garmin has received a supplier award from Embraer, totaling 15 accolades over 13 years for its innovative aviation solutions. The recognition underscores Garmin's commitment to quality, innovation, and customer satisfaction in aviation systems. Phil Straub, Garmin's EVP, expressed gratitude for the acknowledgment highlighting their dedication to delivering superior flight deck solutions and support.
Garmin (NYSE: GRMN) has launched the Varia eRTL615, its first rearview radar and tail light designed for eBike riders. The device plugs directly into compatible eBikes, enhancing safety by detecting approaching vehicles with visual and audible alerts through Garmin devices or the Varia app. Key features include:
- Maximum awareness: Alerts users of vehicles up to 150 yards away when paired with Garmin devices.
- Superior visibility: A tail light visible up to a mile in daylight.
- Adjustable light modes: Four modes for varying conditions.
With a sleek design and multiple mounting options, it retails for $299.99. This product aims to enhance the safety of the growing eBike market.
Garmin (NYSE: GRMN) has launched PlaneSync, a connected aircraft management system designed to automate avionics database updates, log flight and engine data, and provide real-time aircraft status through the Garmin Pilot app. Announced on April 24, 2023, PlaneSync offers enhanced connectivity via 4G LTE or Wi-Fi, streamlining pre-flight and post-flight activities for both individual and fleet aircraft owners. This technology allows for automatic downloads of databases and transmits flight logs to secure cloud storage. Available to new G3000-equipped aircraft, including Daher TBM 960 and Piper M600 SLS, it is expected to be available for retrofits in Q3 2023 for a starting price of $3,995. Garmin aims to improve the pilot experience by lessening management complexities and enhancing operational confidence.
Garmin has launched the all-new zūmo XT2, an advanced motorcycle GPS designed for both on- and off-road adventures. Featuring a 6-inch ultrabright display, it provides a larger and clearer view than previous models. Built to withstand harsh conditions, the XT2 has an IPX7 water-resistance rating and operates effectively under handlebar vibrations. Enhanced features include the Group Ride Mobile for tracking friends, access to popular riding paths, and the ability to customize routes with Garmin Adventurous Routing. The device is priced at $599.99 and aims to enhance the motorcycle riding experience through innovative navigation capabilities. The XT2 is now available for purchase at Garmin's website.
Garmin (NYSE: GRMN) has announced an expansion of its high-resolution relief shading coverage for its Garmin Navionics Vision+ marine cartography, now providing 120% more coverage than before. This enhancement delivers better visibility of underwater structures across over 40,000 additional lakes and various coastal and inland waters globally, including areas in the U.S., Canada, Europe, Africa, Australia, and New Zealand. The new color palette offers clearer images and improved detail to aid mariners in navigation and fishing. Customers can access these updates via the ActiveCaptain app and enjoy daily map updates, enhancing situational awareness. Garmin's innovative Auto Guidance+ technology further aids mariners in planning safe routes. Premium access begins at $249.99, with existing subscribers receiving the updates as part of their marine chart subscription.
Garmin (NYSE: GRMN) has launched the new Garmin Drive™ 53 and Garmin Drive 53 & Traffic, enhancing its navigation product lineup with a sleek design and advanced features. The devices feature a 5-inch glass touchscreen with 800x480 resolution and include detailed map updates for North America. The Drive 53 model retails at $149.99 while the traffic-enabled version is priced at $169.99. Key features include dynamic traffic alerts, an extensive database of U.S. national parks, and Tripadvisor ratings for local attractions. Garmin aims to provide a reliable navigation solution for both long trips and daily commutes, as emphasized by Dan Bartel, Vice President of Global Consumer Sales. The products are now available for purchase, promising a modern aesthetic and easy-to-use interface.
Garmin has introduced the Instinct 2X Solar, a new rugged smartwatch that meets military standards and features a high-resolution display, infinite battery life through solar charging, and an integrated LED flashlight. The watch is designed for extreme environments, water-resistant up to 10 ATM, and offers improved energy efficiency, providing 50% more energy than previous models. It includes health monitoring tools, multi-band GNSS support, and tactical features for military use. The Suggested retail price is
Garmin (NYSE: GRMN) introduced the Edge 540 and Edge 840 Series, advanced GPS cycling computers designed to enhance performance tracking and training for cyclists. These devices feature new metrics including targeted adaptive coaching, real-time stamina monitoring, and solar charging options, providing up to 60 hours of battery life in battery saver mode. The 540 and 840 Series come equipped with multi-band GNSS for improved positioning and are designed for various cycling environments. Pricing starts at
Garmin Ltd. (NYSE: GRMN) will host its first quarter 2023 earnings conference call on May 3, 2023, at 10:30 a.m. EDT. This call coincides with the earnings release, which will be available before market open on the same day. Interested parties can join the live webcast at Garmin's investor relations website and can participate by phone by dialing 800-715-9871 from the U.S. and Canada. The call aims to offer insights into the company's financial performance and outlook, emphasizing Garmin's commitment to innovation in technology for athletes and outdoor enthusiasts.
Garmin (NYSE: GRMN) has launched the GPSMAP 67 Series and eTrex SE handheld devices, enhancing outdoor navigation with improved battery life and positional accuracy. The GPSMAP 67 and 67i feature multi-GNSS support and multi-band technology, with up to 180 hours of battery life in standard mode and 840 hours in expedition mode. The GPSMAP 67i integrates inReach satellite communication for global connectivity and emergency SOS capabilities. The eTrex SE offers a budget-friendly option with a battery life of up to 1,800 hours. Prices start at $149.99 for the eTrex SE and $499.99 for the GPSMAP 67.
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