Garmin (NYSE:GRMN) Releases Earnings Results, Beats Estimates By $0.51 EPS

Posted by Brian Himes on Jul 29th, 2026

Garmin (NYSE:GRMN – Get Free Report) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.51, FiscalAI reports. Garmin had a return on equity of 20.07% and a net margin of 23.26%.The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company earned $2.17 EPS. Garmin’s revenue for the quarter was up 11.4% on a year-over-year basis. Garmin updated its FY 2026 guidance to 10.000-10.000 EPS.

Garmin Stock Up 16.7%

GRMN stock traded up $42.37 during midday trading on Wednesday, hitting $296.02. The company’s stock had a trading volume of 945,431 shares, compared to its average volume of 893,800. The stock has a market cap of $57.09 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 2.86 and a beta of 0.90. The stock’s 50-day moving average price is $239.62 and its 200 day moving average price is $235.51. Garmin has a 1 year low of $186.67 and a 1 year high of $298.75.

Insider Activity at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 2,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $237.91, for a total transaction of $475,820.00. Following the completion of the transaction, the chief financial officer directly owned 26,049 shares of the company’s stock, valued at approximately $6,197,317.59. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph J. Hartnett sold 643 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $263.57, for a total value of $169,475.51. Following the transaction, the director owned 21,277 shares of the company’s stock, valued at $5,607,978.89. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. 14.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Garmin

Several hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. boosted its stake in shares of Garmin by 23.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 283 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 53 shares in the last quarter. UMB Bank n.a. increased its holdings in Garmin by 1.5% during the 4th quarter. UMB Bank n.a. now owns 3,508 shares of the scientific and technical instruments company’s stock valued at $712,000 after purchasing an additional 53 shares during the period. Transamerica Financial Advisors LLC raised its holdings in shares of Garmin by 14.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 534 shares of the scientific and technical instruments company’s stock valued at $108,000 after acquiring an additional 66 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in shares of Garmin by 3.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,987 shares of the scientific and technical instruments company’s stock worth $415,000 after purchasing an additional 67 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in Garmin by 5.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,300 shares of the scientific and technical instruments company’s stock worth $267,000 after buying an additional 68 shares during the period. 81.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRMN has been the topic of several recent research reports. Morgan Stanley set a $249.00 target price on shares of Garmin in a research report on Thursday, April 30th. Barclays reduced their price target on shares of Garmin from $240.00 to $238.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Garmin in a research report on Monday, June 8th. JPMorgan Chase & Co. upped their target price on Garmin from $265.00 to $285.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Garmin currently has an average rating of “Moderate Buy” and a consensus price target of $269.40.

Read Our Latest Report on GRMN

Key Garmin News

Here are the key news stories impacting Garmin this week:

Positive Sentiment: Quarterly results exceeded expectations: Garmin reported adjusted EPS of $2.81, up from $2.17 a year earlier and above the $2.27-$2.30 analyst consensus. Revenue rose 11.4% year over year to a record $2.02 billion, surpassing estimates of approximately $1.93 billion. Garmin Announces Second Quarter 2026 Results
Positive Sentiment: Fitness segment accelerated: Garmin’s fitness business reportedly grew 25%, reinforcing investor confidence that demand for wearables and connected health products remains strong. Garmin’s Fitness Business Explodes 25%, Stock Surges
Positive Sentiment: Full-year guidance was raised: Garmin now expects fiscal 2026 EPS of $10.00, above the prior outlook and roughly $9.57-$9.53 analyst expectations. Revenue guidance was set at approximately $8.1 billion, also ahead of the roughly $8.0 billion consensus. Garmin Q2 Earnings and Revenues Beat Estimates
Positive Sentiment: Broader growth initiatives support the outlook: Recent acquisitions of TrainingPeaks and TrainHeroic expand Garmin’s training-software ecosystem and recurring digital revenue opportunity, while new aviation, marine, golf and wearable products provide additional growth drivers.
Neutral Sentiment: At approximately $296.81, Garmin was near its 52-week high of $298.75 and trading well above its 50-day and 200-day moving averages, suggesting strong momentum but also elevated expectations.
Negative Sentiment: Recent insider activity showed selling rather than buying, with executives collectively selling shares over the past six months. In addition, the reported median analyst price target of $268.50 is below the current share level, potentially limiting near-term upside.

Garmin Company Profile

(Get Free Report)

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.