Garmin Stock Price, News & Analysis

Garmin (NYSE: GRMN) has unveiled the Enduro 3, a cutting-edge ultraperformance GPS smartwatch designed for ultra-endurance athletes. This lightweight device, weighing just 63 grams, boasts an impressive 320 hours of battery life in GPS mode with solar charging. The Enduro 3 features:

• Enhanced solar charging capabilities
• Premium training and navigation tools
• Preloaded TopoActive maps
• Advanced health monitoring features
• Two-way messaging via Garmin Messenger app

Priced at $899.99, the Enduro 3 offers a robust set of features for athletes pushing their limits in various outdoor activities.

Garmin (NYSE: GRMN) has unveiled the fēnix 8 Series, its latest premium multisport GPS smartwatches. The new lineup offers either a bright AMOLED display or a solar charging display for extended battery life. Key features include:

- Advanced strength training features
- Dive capabilities
- Internal speaker and microphone
- Built-in LED flashlight
- Improved battery life (up to 29 days for AMOLED, 48 days for solar)
- Rugged design with premium materials
- Advanced mapping and navigation
- Extensive health monitoring features

The fēnix 8 Series is available in multiple sizes and configurations, with prices starting at $999.99.

Garmin (NYSE: GRMN) has announced the integration of its satellite SOS emergency response coordination service into Google's Android smartphone ecosystem, starting with the Pixel 9 series in the U.S. This collaboration allows Pixel users to connect with Garmin Response emergency services when cellular and Wi-Fi coverage is unavailable, using the Pixel's Satellite SOS feature.

Garmin Response, which coordinates over 17,000 SOS activations annually in more than 150 countries, will provide 24/7 support through professionally trained emergency incident coordinators. The service will be available to Pixel 9 users in the U.S. at no additional charge for the first two years after device activation.

Garmin (NYSE: GRMN) has announced the certification of Runway Occupancy Awareness (ROA), the first certified software solution using Surface Indications and Alert (SURF-IA) technology. ROA utilizes ADS-B traffic to alert crews of potential runway incursions caused by nearby aircraft and ground vehicles. The initial FAA certification was received for the G1000® NXi-equipped Cessna Caravan, with expected certification for G5000® STC on Cessna Citation Excel, XLS, XLS+ and XLS Gen2 in September 2024.

ROA analyzes GPS and ADS-B traffic information to assess and alert crews of possible runway incursions or collisions. It provides visual and aural alerts based on the level of threat, ranging from caution to warning level alerts for imminent collision risks. This technology builds upon Garmin's other Terminal Safety Solutions, including ROAAS, SafeTaxi, and SurfaceWatch™.

Garmin (NYSE: GRMN) has unveiled the dēzl™ Headset 110 and dēzl Headset 210, innovative wireless trucking headsets designed for long-haul drivers. These headsets feature a dual-color LED flashlight for hands-free convenience, enhanced Active Noise Cancellation (ANC), and up to 60 hours of continuous talk time via Bluetooth®. The headsets offer superior audio quality, all-day comfort, and seamless integration with Garmin's dēzl OTR trucking navigators.

Key features include a built-in LED flashlight with red, white, and extra-bright white settings, noise-canceling audio with enhanced bass performance, and a durable design with plush ear cushions. The dēzl Headset 110 is priced at $299.99, while the two-in-one dēzl Headset 210 is available for $399.99.

Garmin (NYSE: GRMN) has introduced the next-generation dēzl OTR series, its latest lineup of GPS trucking navigators. The new series integrates with the dēzl community, providing insights and ratings from fellow drivers to help users find best-rated parking spots and navigate to trucker-preferred destinations. Key features include:

- Custom truck routing based on vehicle size and weight
- Expert arrival planning with high-resolution overhead views
- Wind speed alerts and map overlay
- CAT Scale locator
- PrePass notifications
- Built-in dash cam (7" dēzlCam OTR725 model)
- Real-time truck plaza amenities
- Voice assist control

The new dēzl OTR series is available now with display sizes ranging from 6 to 10 inches, priced between $349.99 and $899.99.

Garmin (NYSE: GRMN) has announced that customers can now make purchases in the Connect IQ™ Store using Garmin Pay™. This integration allows developers to be rewarded for their innovative designs while providing Garmin users access to premium watch faces and apps from brands like Disney, GoPro®, Porsche, and TaylorMade.

New offerings include Disney watch faces featuring characters from Disney, Marvel, and Star Wars; a GoPro Camera Control App; Porsche watch faces; a TaylorMade golf-inspired watch face; and space-themed watch faces inspired by NASA. These premium apps and watch faces are available for select smartwatches with prices starting at $4.99.

Garmin (NYSE: GRMN) reported record second quarter revenue of $1.51 billion, a 14% increase year-over-year. The company achieved gross and operating margins of 57.3% and 22.7% respectively, with operating income rising 20% to $342 million. Garmin's GAAP EPS reached $1.56, while pro forma EPS grew 9% to $1.58. Notable achievements include shipping the one millionth domain controller to Auto OEM customers and supporting over 1,000 research studies through Garmin Health. Based on strong performance, Garmin has raised its full year 2024 guidance, now projecting revenue of approximately $5.95 billion and pro forma EPS of $6.00.

Garmin (NYSE: GRMN) released a report on July 10, 2024, showcasing global cycling trends derived from its users. The findings indicate a 7% increase in overall cycling activities and a 12% rise in indoor cycling. Women are the fastest-growing demographic with a 9% activity increase. Cyclists in the UAE are the quickest, averaging 16 mph, while Danish cyclists generate the most power at 196 watts. Italian riders spend the most time on their bikes, averaging over two hours per ride and covering 29 miles. Garmin-sponsored athletes highlight the benefits of products like the Edge® 1040 Solar and Rally™ XC200 pedals. Garmin's cycling product suite offers advanced navigation, performance tracking, and safety features to enhance the cycling experience.