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 entered a two-year agreement to become the title sponsor of the Garmin RunningLane Cross Country Championships, commencing on December 4, 2021, in Huntsville, Alabama. This prestigious event will feature over 1,500 high school athletes from across the U.S., competing for various individual and team awards. Garmin aims to promote its running products, including Forerunner series watches, and underscores its commitment to supporting youth athletes. This sponsorship will enhance Garmin's brand visibility within the fitness community.
Garmin has announced the winners of its 2021 Garmin Health Awards during the Garmin Health Summit in Lisbon. The awards recognize innovative solutions utilizing Garmin wearables in health and wellness programs. Winners include Fitrockr in Health Care, Qumata in Insurance, and Viessmann in Engagement, each receiving Garmin Venu Sq smartwatches. The summit showcased how Garmin’s technology improves business outcomes in health care and corporate wellness.
Garmin Ltd. (NASDAQ: GRMN) reported record Q3 revenue of $1.19 billion, a 7% year-over-year increase, alongside a notable decline in operating income by 11% to $283 million. GAAP EPS dropped 18% to $1.34, while pro forma EPS decreased by 11% to $1.41. Despite these figures, strong growth was observed in the aviation (19%) and marine (25%) segments. The company has raised its full-year revenue and EPS guidance, now forecasting approximately $4.95 billion in revenue and $5.60 pro forma EPS. Garmin also announced new product launches and strategic partnerships during the quarter.
Garmin has launched the GPSMAP 79 marine handheld series, designed for mariners seeking essential navigation tools. The series includes the GPSMAP 79s with a worldwide basemap and the GPSMAP 79sc featuring BlueChart g3 coastal charts. Key enhancements include a rugged design, a sunlight-readable, high-resolution display, and up to 19 hours of battery life. Prices start at
Garmin has launched the new GMR Fantom™ 18x and GMR Fantom 24x solid-state dome radars, designed for improved marine navigation. These radars feature 50 watts of output power, which is double that of competitors, allowing for enhanced target detection over a range of 20’ to 48 nautical miles. The technology includes MotionScope™ for tracking moving targets, and users can choose between black and white color options. Priced between $2,199.99 and $3,099.99, they are expected to be available in December 2021.
Wellteq Digital Health Inc. (CSE:WTEQ, OTCQB:WTEQF) has extended its three-year agreement with nib health funds, Australia’s fourth-largest private health insurer, emphasizing their long-standing relationship. This extension allows Wellteq to enhance member engagement via its customized digital health platform, integrating Garmin and other health providers. nib, serving over 1.2 million policyholders, aims to transform from a traditional payer to a health partner, focusing on personalized care and health management tools for its members.
Garmin has launched the new DriveSmart™ 66, 76, and 86 series of portable car GPS navigators featuring enhanced displays, voice assist navigation, and preloaded traveler content. These devices boast 6, 7, and 8-inch high-definition screens for clear route visibility. The models offer hands-free calling, driver alerts, and access to detailed maps of North America. Prices range from $249.99 to $349.99. The series aims to simplify the driving experience with additional features like real-time traffic, built-in Wi-Fi, and Alexa support.
Garmin Ltd. (NASDAQ: GRMN) has launched the Dexcom Connect IQ apps for users of the Dexcom G6 Continuous Glucose Monitor. This feature enables individuals with Type 1 and Type 2 diabetes to monitor their glucose levels and trends conveniently on their Garmin smartwatch or cycling computer, even during workouts. The app offers real-time glucose data and a 3-hour historical view, enhancing the user experience while exercising. Available now in the Connect IQ Store for U.S. customers, this integration marks Garmin's first partnership with Dexcom utilizing their new real-time API.
Garmin Ltd. (Nasdaq: GRMN) has announced its upcoming third quarter 2021 earnings conference call, scheduled for October 27, 2021, at 10:30 a.m. EDT. This call will be broadcast via the Internet in conjunction with the earnings release that will be distributed prior to market open on the same date. Investors can join the call using the provided link or by dialing in. An archived recording will be accessible until October 26, 2022. Garmin continues to innovate across multiple sectors including aviation, automotive, fitness, and marine.
Garmin announced that 10% of the Citation Excel and XLS fleet has been upgraded with the G5000 integrated flight deck. This retrofit modernizes the cockpit, reduces operational costs, and enhances situational awareness. Highlights include three landscape-oriented displays, a fully digital Automatic Flight Control System, and compliance with FAA and EASA regulations. Additional features such as SVT synthetic vision technology and advanced weather radar enhance flight safety and efficiency. The upgrades are gaining popularity among aircraft owners since program certification just two years ago.
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