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 has been selected by Arctic Cat, a Textron subsidiary, to exclusively provide customized 5.5-inch Tread navigators for its 2023 Wildcat XX Black Hills Edition side-by-side vehicles. This collaboration enhances the off-road experience with Garmin's advanced trail mapping and GPS capabilities, integrated into a rugged device designed for harsh terrains. The Wildcat model features a powerful 998cc engine and specialized suspension for optimal performance, reflecting a strategic partnership aimed at delivering cutting-edge technology to users.
Garmin has unveiled two new all-in-one navigators: the DriveCam 76 and RVcam 795, designed for everyday and recreational drivers. Both feature a 7-inch display, 1080p HD recording, and a 140-degree field of view. These devices aid in incident recording and provide advanced driver assistance warnings. The DriveCam 76 is priced at
Garmin Ltd. has launched the Enduro™ 2, a high-performance multisport GPS smartwatch designed for endurance athletes. Key features include a 150-hour battery life in GPS mode, built-in TopoActive maps, and advanced solar charging capabilities that extend battery life by 40% compared to its predecessor. The watch is equipped with a superbright LED flashlight, enhanced positioning precision via SatIQ™ technology, and a suite of training and health features. The suggested retail price is $1099.99.
Garmin Ltd. (NYSE: GRMN) has launched the Tread® Audio System, featuring customizable LED speakers designed for off-road vehicles. This all-in-one audio solution offers AM/FM, AUX, and Bluetooth connectivity, alongside an IP67 water rating for durability. It includes a wireless remote and enhances adventures with synchronized LED lighting. The system is available for $1,199.99, while separate components can be purchased, including the audio box for $599.99 and additional XS-LED speakers for the same price.
Garmin Ltd. (NYSE: GRMN) reported second quarter 2022 revenue of $1.24 billion, a 6% drop year-over-year, impacted by a strong U.S. Dollar and reduced fitness segment sales. Operating income fell 21% to $293 million, with GAAP EPS at $1.33, down 19%. Despite declines in fitness and marine sectors, aviation and outdoor segments saw growth. Garmin launched new products including the Forerunner 955 Solar and expanded its market presence with a new headset for truck drivers. The company now expects full-year revenue of around $5 billion.
Garmin Ltd. (NYSE: GRMN) has become the official technology sponsor of the Bowerman Track Club through 2023. This partnership will support world-class athletes using Garmin's advanced Forerunner GPS running smartwatches for training and competition. Athletes will utilize devices like the Forerunner 255 and Forerunner 955 Solar, which offer extensive performance metrics, battery life, and coaching tools.
Garmin has launched the HRM-Pro™ Plus, a premium heart rate strap designed for athletes. It now tracks pace and distance during indoor workouts, alongside real-time heart rate and running dynamics. The device connects via ANT+ and Bluetooth, transmitting data to Garmin smartwatches and other compatible devices. The HRM-Pro Plus features a replaceable battery lasting up to one year and retails for $129.99. This innovation aims to enhance performance metrics for runners and athletes, aiding them in achieving their fitness goals.
Garmin has launched the Edge Explore 2 series of GPS cycling computers, featuring extended battery life of up to 24 hours and new eBike functionalities. The Edge Power Mount allows eBike riders to charge their device during rides. The series offers preloaded maps, turn-by-turn navigation, and safety features such as incident detection. Available now, the Edge Explore 2 retails for
Garmin Ltd. (NYSE:GRMN) has launched the LiveScope™ XR, an innovative live-scanning sonar transducer, enhancing fishing experiences with a live sonar range of up to 500’ in freshwater and 350’ in saltwater. This new technology offers real-time high-resolution images of aquatic life and structures over 200% more range than competitors. The system features multiple viewing angles and advanced sensor adjustments for stability in rough waters. LiveScope XR is priced at $2999.99 and is compatible with various Garmin chartplotters.
Garmin Ltd. (NYSE: GRMN) has launched the LiveScope Plus Ice Fishing Bundle LI, enhancing the ice fishing experience with advanced live-scanning sonar technology. This bundle boasts a 35% improvement in target separation and up to 65% more battery life thanks to its lightweight lithium battery. The device supports dual modes for real-time imaging up to 200 feet and features a touchscreen ECHOMAP UHD 93sv with preloaded LakeVü g3 maps. With a suggested retail price of
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