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. reports developments across GPS-enabled hardware and software for fitness, outdoor, automotive, aviation and marine markets. Company news commonly covers earnings releases, new smartwatch features, aviation flight deck systems, marine sonar and chartplotter products, and integrations through the Connect IQ platform and connected wearables.
Garmin updates also include audio products under JL Audio and Fusion, inReach satellite and cellular connectivity, supplier recognition in aviation, and product partnerships tied to health, messaging and outdoor communications. The company is incorporated in Switzerland, with principal subsidiaries in the United States, Taiwan and the United Kingdom.
Summary not available.
Summary not available.
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 $549.99 and $649.99, the device boasts solar charging capabilities, up to 25 hours of battery life in dive mode, and includes advanced dive features for various skill levels. The product is designed for both recreational and technical divers, offering multi-GNSS support for accurate location logging and a range of health and fitness tracking capabilities. The Descent G1 Series is now available for purchase.
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 $1,699.99 and the LVS34 transducer at $1,199.99, both available next month.
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 $999.99. It is designed to improve the boating experience by offering advanced technology and user-friendly operation, streamlining interactions with the vessel's systems.
Garmin has entered a two-year agreement to become the official wearable sponsor of the National Scholastic Athletics Foundation (NSAF). This partnership aims to enhance the experience of over 200,000 student athletes involved in NSAF programs. Garmin will sponsor key events such as the Nike Indoor Nationals and Nike Outdoor Nationals, showcasing its advanced wearable technology. The collaboration reflects Garmin's commitment to support youth athletics and provide athletes with state-of-the-art training tools. NSAF Executive Director Jim Spier highlights Garmin's technology as a game-changer for the sport.
Garmin has unveiled the Instinct 2 Series, a line of rugged smartwatches with unlimited battery life in certain models and multiple sizes. The series features vibrant colors, a high-resolution display, and a host of health and wellness metrics, including VO2 Max and Sleep Score. With military-grade durability and water resistance up to 100 meters, it caters to outdoor enthusiasts. Starting at $349.99, the Instinct 2 Series combines style and functionality, offering customization options and advanced fitness tracking features.