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 Smart Glide, a safety tool that automates cockpit tasks during engine power loss emergencies, reducing pilot workload. Integrating with Garmin's existing avionics, Smart Glide recommends suitable airports within glide range, optimizing settings for a safe landing. Activation can be done via a dedicated button or a long press of the Direct-to button. The feature enhances situational awareness with real-time updates and automates flight adjustments, significantly aiding pilots in high-stress situations. It will be available as a software upgrade in August 2021.
Garmin International has received Supplemental Type Certificate (STC) approval for its GFC 600H flight control system on the Bell 505 helicopter. This system enhances safety with features like attitude hold, hover assist, and low-speed protection, reducing pilot workload significantly. The GFC 600H integrates smoothly with the G1000H avionics system, allowing precise navigation and automated flight operations. It will be available as a factory-installed option in new helicopters and as a retrofit option in August 2021, marking a significant advancement in helicopter flight control technology.
Garmin announced the launch of the LiveScope Ice Fishing Bundle LI, a state-of-the-art chartplotter and transducer package featuring advanced Panoptix LiveScope sonar technology. This bundle includes a lightweight lithium battery, offering a significant advantage with up to 65% more battery life compared to traditional lead-acid batteries. The bundle is designed for real-time fish tracking with two sonar modes and comes equipped with a large ECHOMAP UHD 93sv touchscreen, preloaded with detailed lake maps. Retailing at $2,999.99, the product will be available in September 2021.
Garmin Ltd. (Nasdaq: GRMN) announces its second quarter 2021 earnings conference call scheduled for July 28, 2021, at 10:30 a.m. ET. Executives will discuss earnings details, which will be released prior to market open on the same day. Interested parties can join the call via a dedicated website link or by phone. The event aims to provide insights into Garmin's financial performance for the quarter.
Archive access for the call will be available until July 27, 2022. For additional information, visit Garmin's investor relations site.
Garmin International announced TXi engine indication system (EIS) support for select twin turboprop aircraft, enhancing cockpit modernization. Key features include engine timers, exceedance recordings, and wireless data logging, leading to improved efficiency and reduced maintenance costs. The TXi EIS will be available for Cessna 425, King Air 90 series, and select Piper Cheyenne variants. Enhancements also cover dynamic markings and electronic ignition support, set to be released in July via Garmin dealers, backed by a two-year warranty.
Garmin announced that pro angler Hank Cherry Jr. won the Academy Sports + Outdoors Bassmaster Classic, marking his second consecutive victory. Cherry achieved a weight total of 50 pounds 15 ounces, making him one of only four anglers to win back-to-back Classics in its 51-year history. He relied on Garmin's ECHOMAP Ultra chartplotters and Panoptix LiveScope sonar to secure his win. David Dunn, Garmin's senior director of marine sales, praised Cherry's achievement, celebrating Garmin's presence in the tournament with 14 anglers competing, including others who placed in the top five.
Garmin announced its new 2021 voice-controlled Dash Cam series, featuring models Mini 2, 47, 57, and 67W. These compact dash cams capture incidents and store videos in Garmin's online Vault. Key features include HD recording, Live View monitoring, and advanced alerts for parked vehicles. The series offers pricing from $129.99 to $259.99. The Dash Cams are equipped with Garmin Clarity HDR optics and voice control in multiple languages, enhancing user experience. Available now, these devices aim to bolster driver safety and peace of mind.
Garmin announced the 2021 Garmin Health Awards, recognizing innovative uses of its wearable technology in health and wellness programs. The awards feature three categories: Health Care, Insurance, and Engagement. Winners will be revealed at the Garmin Health EMEA Summit on Oct. 28-29, with each recipient awarded 50 Venu Sq smartwatches valued at approximately $10,000. The submission period runs from June 8 to July 31, 2021. Garmin emphasizes the importance of integrating physiological data with solutions, aiming to foster long-term health benefits.
Garmin Ltd. (NASDAQ:GRMN) announced at its annual shareholders’ meeting the approval for a cash dividend of $2.68 per share, payable in four quarterly installments. The first installment of $0.67 will be paid on June 30, 2021, with a record date of June 15, 2021. Subsequent dividends are scheduled for September 30, December 31, and March 31 of 2022, maintaining the same dividend amount. Shareholders are advised that the dividend is subject to adjustments if the Swiss Franc weakens significantly against the USD.
Garmin has been awarded the prestigious 2020 Robert J. Collier Trophy for its groundbreaking Autoland system, recognized as the first certified autonomous technology that can safely land an aircraft without human intervention. The system provides critical safety enhancements, especially during emergencies such as pilot incapacitation. Several aircraft have received Type Certification for Autoland, including Piper Aircraft's M600 SLS and Cirrus Aircraft's Vision Jet. The award highlights Garmin's commitment to innovation in aviation safety.
FAQ
What is the current stock price of Garmin (GRMN)?
What is the market cap of Garmin (GRMN)?
What are the main product verticals for Garmin Ltd.?
How does Garmin distribute its products globally?
What recent advancements has Garmin made in automotive technology?
What is the Panoptix™ PS70?
How did Garmin perform financially in 2023?
Which automobile manufacturers are partnering with Garmin?
What is Garmin's approach to product innovation?
Where is Garmin headquartered?
What makes Garmin's marine products stand out?
What are some of Garmin's recent achievements in the fitness segment?
