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.
Garmin celebrates the delivery of its 750th G1000 NXi integrated flight deck upgrade for King Air aircraft, enhancing operational benefits and aircraft utility.
Installed on a King Air B200C for the U.S. Army, this upgrade includes significant features such as Synthetic Vision Technology and improved flight displays. The G1000 NXi retrofit offers modernized avionics, weight savings of over 250 pounds, and seamless upgrades for existing G1000 owners, solidifying its position as the most successful integrated flight deck upgrade for the King Air family.
Garmin Ltd. (NYSE: GRMN) has secured a multi-year title sponsorship agreement for the Garmin Kansas City Air Show, set to take place on Sept. 3-4, 2022. The event aims to attract over 50,000 attendees at New Century AirCenter, featuring aerial demonstrations by the U.S. Air Force Thunderbirds and other performers. The sponsorship aligns with Garmin’s commitment to community support, with proceeds benefiting local non-profit programs focused on aviation-related education.
Garmin (NYSE: GRMN) has launched the ECHOMAP UHD2 chartplotter series, available in 5-inch and 7-inch displays, featuring advanced sonar capabilities and built-in wireless networking. The units offer 500W sonar power, a sunlight-readable display, and easy navigation with physical buttons. The UHD2 series allows users to wirelessly share data and supports the Garmin Navionics+ cartography. Prices range from $399.99 to $649.99. The new models are designed for efficiency and ease of use, enhancing fishing experiences with improved mapping and sonar features.
Garmin has unveiled the quatix 7 Series, a premium marine GPS smartwatch designed for boating enthusiasts. The series includes three models: quatix 7, quatix 7 Sapphire, and quatix 7X Solar, featuring a vivid always-on touchscreen and enhanced battery life—up to 16 days for Sapphire models and 90 days in battery saver mode for Solar models. Key features include MFD control, anchor drag alerts, and advanced GPS positioning. Prices range from $699.99 to $1,199.99, highlighting Garmin's commitment to innovation in marine technology.
Garmin Ltd. (NYSE: GRMN) reported record first-quarter revenue of $1.17 billion, marking a 9% year-over-year increase. Key segments showed mixed performance: Fitness revenue declined 28%, while Outdoor saw an impressive 50% growth. Operating income reached $229 million, down 8% from last year, with GAAP EPS at $1.09. The company launched new products, including updated adventure watches and high-resolution sonar technology. Despite challenges from rising freight costs and supply chain issues, Garmin aims for a full-year revenue of $5.5 billion.
Garmin has launched the vívosmart 5, a smart fitness tracker designed for ease of use and comfort, featuring a 66% larger display and a battery life of up to 7 days. It includes advanced health monitoring such as 24/7 heart rate tracking, Pulse Ox, and sleep score. The device supports various sports apps and offers safety features like assistance alerts. Priced at $149.99, the vívosmart 5 emphasizes a minimalist approach to personal health management without requiring a subscription.
Garmin Ltd. (NYSE: GRMN) will host its first quarter 2022 earnings conference call on April 27, 2022, at 10:30 a.m. EDT. The call follows the company's earnings release, scheduled for the same day before market open. Investors can join the call via this link or by dialing 855-757-3897. A replay of the webcast will be available until April 26, 2023. Garmin is dedicated to innovation across aviation, automotive, fitness, marine, and outdoor sectors.
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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.