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 launched the vívosmart 5, a smart fitness tracker designed for ease of use and comfort, featuring a 66% larger display and a battery life of up to 7 days. It includes advanced health monitoring such as 24/7 heart rate tracking, Pulse Ox, and sleep score. The device supports various sports apps and offers safety features like assistance alerts. Priced at $149.99, the vívosmart 5 emphasizes a minimalist approach to personal health management without requiring a subscription.
Garmin Ltd. (NYSE: GRMN) will host its first quarter 2022 earnings conference call on April 27, 2022, at 10:30 a.m. EDT. The call follows the company's earnings release, scheduled for the same day before market open. Investors can join the call via this link or by dialing 855-757-3897. A replay of the webcast will be available until April 26, 2023. Garmin is dedicated to innovation across aviation, automotive, fitness, marine, and outdoor sectors.
Garmin continues its dominance in marine electronics, highlighted by Jason Christie's win at the 2022 Bassmaster Classic, held from Mar. 4-6 at Lake Hartwell, South Carolina. Christie achieved a total weight of 54 pounds, with significant contributions from Garmin's LiveScope technology. Notably, nine of the top ten finishers used Garmin products, showcasing the brand's industry leadership.
Garmin's ECHOMAP Ultra series and Force trolling motor were crucial for competitor success, reinforcing Garmin's reputation as a leading provider of innovative marine electronics.
Garmin announced that the Federal Aviation Administration (FAA) has granted Supplemental Type Certification (STC) for the GI 275 electronic flight instrument, set for completion in March 2022. This instrument is designed for Part 27 VFR helicopters, starting with the Bell 206. Designed to replace legacy flight instruments, the GI 275 offers a cost-effective upgrade with modern features, including a high-resolution touchscreen and optional synthetic vision technology. Expected additional certifications for other helicopter models in the second half of 2022 will enhance Garmin's presence in the aviation market.
Garmin has launched the Descent G1 Solar dive computer, featuring dive modes, health monitoring, and smartwatch functionality. Available in two models, priced at
Garmin has launched the LiveScope Plus System, enhancing live-scanning sonar technology for recreational fishing. The system boasts 35% improved target separation and clearer images, allowing anglers to see structures and fish in real-time, even while stationary. Features include three modes – Forward, Down, and Perspective – with easy installation and integration with Garmin chartplotters. The LiveScope Plus System is priced at
Garmin Ltd. (NYSE: GRMN) reported a record revenue of $4.98 billion for the fiscal year 2021, marking a 19% increase year-over-year. The fourth quarter revenue reached $1.39 billion, up 3% compared to the previous year. Despite strong performance, operating income fell 15% in Q4 to $315 million. Gross margins stood at 58.0%, while operating margins decreased from 25.2% to 24.5% for the year. Garmin anticipates 2022 revenue to be around $5.5 billion, suggesting a 10% growth, with pro forma EPS projected at $5.90. The company also announced a dividend increase alongside positive recognition for several product innovations.
Garmin has launched the Garmin Boat Switch, an innovative digital switching solution that integrates with Garmin ECHOMAP and GPSMAP chartplotters. This system allows for digital control over 20 circuits, enhancing the ease of managing onboard functions like lights and water pumps. The Garmin Boat Switch simplifies installation, requiring no specialized tools, and is priced at
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