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 has been awarded the 2021 Editors’ Choice Award by FLYING Magazine for its innovative Garmin Autoland system. This system is the first certified technology capable of autonomously landing an aircraft during emergencies. It can be activated by the pilot or a passenger and calculates a safe flight path while avoiding obstacles. The Autoland received FAA certification for the Piper M600, Daher TBM 940, and Cirrus Vision Jet, enhancing Garmin's position in aviation safety technology.
Garmin Ltd. (NASDAQ: GRMN) reported financial results for Q4 and fiscal year 2020, showcasing substantial growth. Q4 revenue reached $1.35 billion, a 23% increase year-over-year, contributing to a record annual revenue of $4.19 billion (11% growth). Notable segment performances included a 40% revenue growth in outdoor and 48% in marine. Operating income for Q4 was $371 million, a 34% increase, while GAAP EPS stood at $1.73. Looking ahead, Garmin expects 2021 revenue of $4.6 billion and pro forma EPS of $5.15.
Garmin® International, Inc. has launched the Enduro™ ultraperformance GPS watch, tailored for endurance athletes, featuring customizable power management modes and a Power Glass™ solar charging lens. The Enduro watch offers battery life up to 65 days and includes advanced training tools such as VO2 Max tracking and ClimbPro™ functionalities. With a suggested retail price ranging from $799.99 to $899.99, it emphasizes staying connected in challenging environments and includes health tracking features like heart rate monitoring and Pulse Ox sensors.
Garmin International has secured a long-term partnership with Joby Aviation to equip their all-electric vertical takeoff and landing (eVTOL) aircraft with the Garmin G3000 integrated flight deck. This agreement positions Garmin as a key technology provider in the Urban Air Mobility sector, with the G3000 system expected to enhance Joby’s air mobility services set to launch in 2024. The flight deck is designed for seamless integration with Joby’s systems, showcasing Garmin’s commitment to innovation in aviation technology.
Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), has won a trade lawsuit against Philips North America and Koninklijke Philips NV. An Administrative Law Judge (ALJ) determined that Philips’ patents were invalid and did not infringe on Garmin's wearable devices. Garmin expressed satisfaction with the ruling, emphasizing its commitment to contesting unfounded patent lawsuits. This initial determination can be reviewed by the International Trade Commission.
Garmin has launched the Lily smartwatch, designed specifically for women, combining fashion with functionality. Available in Classic ($249.99) and Sport ($199.99) models, Lily features a 34mm case, stylish design, and health-tracking capabilities including menstrual cycle and pregnancy monitoring. With a battery life of up to 5 days, it offers smart notifications and activity tracking. The launch reflects Garmin's dedication to women's wellness and fashion-forward technology.
Garmin has announced that its GI 275 electronic flight instrument has received EASA approval for installation in over 1,000 single-engine and multi-engine aircraft. This modern instrument serves as a replacement for legacy flight instruments, offering features like a high-resolution touchscreen display, Synthetic Vision Technology, and compatibility with multiple GPS sources. The GI 275 is designed to enhance cockpit functionality while also being lightweight and compact, simplifying installation. It is available immediately and comes with a two-year warranty and 24/7 technical support.
Garmin International Inc. has been awarded the 2020 On-Time Delivery Award by Airbus Helicopters, marking its second consecutive year receiving this recognition. This award acknowledges Garmin's commitment to timely product delivery for its avionics systems used in Airbus Helicopters like the H125, H130, H135, and H145. Garmin's aviation segment continues to be a key provider for OEM and aftermarket solutions, signifying strong operational performance and strategic partnerships, particularly with Airbus.
Garmin Ltd. (Nasdaq: GRMN) will host its fourth quarter 2020 earnings conference call on February 17, 2021, at 10:30 a.m. ET. The call will precede the earnings release, which will be made available before market open on the same day. Shareholders and investors can join the call online or via phone by dialing 855-757-3897. A replay of the call will be accessible on Garmin's website until February 16, 2022. The company continues to focus on innovation across various sectors, including aviation, automotive, and fitness.
Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), has received its 11th Supplier of the Year award from Embraer for its G3000 Prodigy Touch flight deck systems. The recognition came in the Electric and Electronic Systems category, highlighting Garmin's commitment to innovation and customer satisfaction. This award emphasizes the strong collaboration with Embraer, which has resulted in enhanced in-flight experiences for customers. Garmin continues to be a leading provider in the aviation sector, with a focus on quality and reliability.
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