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 International announced the launch of the new dēzl OTR500, featuring a 5.5" HD touchscreen display for improved visibility on the road. This model expands Garmin's dēzl™ OTR lineup, which now includes sizes from 5.5" to 10". A key enhancement is the integration of PrePass® weigh station bypass notifications, helping truck drivers save time and resources by bypassing weigh stations. This new feature complements existing functionalities, including load-to-dock guidance and customized truck routes.
Garmin International has launched the MSC™ 10 marine satellite compass, enhancing marine navigation with multi-band GNSS technology. This innovative device provides accurate heading within 2 degrees and updates its position at 10Hz, ensuring precise tracking even in challenging conditions. The MSC 10 transitions seamlessly to a backup magnetometer if satellite signals are lost. Priced at $1,099.99, it is compatible with various Garmin chartplotters, affirming Garmin's commitment to marine electronics excellence.
Garmin announced increased recognition for its innovative Autoland system, the world’s first certified autonomous flight technology. This system, achieving FAA certification in 2020, allows for safe emergency landings without human intervention. Recently, Autoland was nominated for the 2020 Robert J. Collier Trophy, with winners to be revealed in June. Garmin's achievements include numerous industry awards, showcasing its commitment to aviation safety and technology, with endorsements from customers emphasizing the reliability and safety of Autoland.
Garmin Ltd. (NASDAQ: GRMN) reported a strong first quarter for 2021, achieving total revenue of $1.07 billion, a 25% increase from the previous year. Key segments such as fitness and outdoor saw notable growth of 38% and 46%, respectively. Gross margins improved to 59.8%, while operating income increased 41% to $250 million. GAAP EPS rose to $1.14, and pro forma EPS reached $1.18, reflecting 30% growth year-over-year. The company continues to execute its product strategy with successful launches in fitness and outdoor categories.
Garmin has launched the new Venu 2 and Venu 2S GPS smartwatches, designed to enhance user wellness with features like fitness age and sleep score. These models include over 25 sports apps, advanced health monitoring, and improved battery life, with the Venu 2 lasting up to 11 days and Venu 2S up to 10 days in smartwatch mode. The price is set at $399.99. Garmin emphasizes the ability of these devices to help users make healthier choices and monitor their wellbeing effectively.
Garmin announced the launch of its GWX 8000 StormOptix weather radar, designed to provide an extensive weather threat analysis for pilots. The radar features enhanced automation with 3D volumetric scanning, an advanced color palette with 16 colors, and predictive capabilities for hail and lightning. Over five years of development included rigorous testing in severe weather conditions, making it suitable for various aircraft from turbine-powered to high-performance models. The GWX 8000 is set to enhance operational safety by simplifying pilot workload and improving weather interpretation.
Garmin International, a unit of Garmin Ltd. (NASDAQ:GRMN), has announced support for Mercury Marine's VesselView engine data on select ECHOMAP Ultra, ECHOMAP UHD, and GPSMAP series multi-function displays. This feature enables boaters to monitor crucial engine performance data, including speed, fuel flow, and temperature, directly on their Garmin devices through the SmartCraft Connect gateway. This functionality is set to be available in Q2 2021, requiring a free software update and SmartCraft Connect purchase.
Garmin has received EASA approval for its ADS-B solution tailored for ATR 42 and ATR 72 turboprop aircraft. In collaboration with Scandinavian Avionics, Garmin's upgrade offers cost-effective compliance with installation flexibility and minimal downtime. The solution includes the GPS 3000 ADS-B and dual GTX 3000 transponders, designed to integrate seamlessly with existing aircraft systems. Air Alsie is the first operator to install this solution, fulfilling regulations required before June 7, 2023.
Garmin (Nasdaq: GRMN) will conduct its first quarter 2021 earnings conference call on April 28, 2021, at 10:30 a.m. ET. The call will coincide with the earnings release, scheduled before market open on the same day. Investors can participate via a live stream on Garmin's investor relations page or by phone at 855-757-3897. An archive of the webcast will be available until April 27, 2022. The company continues to innovate in aviation, automotive, fitness, marine, and outdoor lifestyles.
Garmin has unveiled new models of its GSB 15 USB charger for aircraft, now featuring 27W USB Type-C ports. The updated design retains its compact size while offering enhanced functionality, including two USB ports capable of simultaneous charging and new dimmable halo lighting around each port. The charger incorporates USB Power Delivery technology for optimized power output, making it ideal for pilot and passenger devices. Additional features include options for rear and side power input connectors, and short circuit and over-temperature protection.
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