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 (NYSE: GRMN) introduced the Edge 540 and Edge 840 Series, advanced GPS cycling computers designed to enhance performance tracking and training for cyclists. These devices feature new metrics including targeted adaptive coaching, real-time stamina monitoring, and solar charging options, providing up to 60 hours of battery life in battery saver mode. The 540 and 840 Series come equipped with multi-band GNSS for improved positioning and are designed for various cycling environments. Pricing starts at $349.99 for the non-solar Edge 540, while the Edge 840 is priced at $449.99. With enhanced mapping capabilities and connectivity features, these models address the needs of both casual and competitive cyclists aiming to reach their personal milestones.
Garmin Ltd. (NYSE: GRMN) will host its first quarter 2023 earnings conference call on May 3, 2023, at 10:30 a.m. EDT. This call coincides with the earnings release, which will be available before market open on the same day. Interested parties can join the live webcast at Garmin's investor relations website and can participate by phone by dialing 800-715-9871 from the U.S. and Canada. The call aims to offer insights into the company's financial performance and outlook, emphasizing Garmin's commitment to innovation in technology for athletes and outdoor enthusiasts.
Garmin (NYSE: GRMN) has launched the GPSMAP 67 Series and eTrex SE handheld devices, enhancing outdoor navigation with improved battery life and positional accuracy. The GPSMAP 67 and 67i feature multi-GNSS support and multi-band technology, with up to 180 hours of battery life in standard mode and 840 hours in expedition mode. The GPSMAP 67i integrates inReach satellite communication for global connectivity and emergency SOS capabilities. The eTrex SE offers a budget-friendly option with a battery life of up to 1,800 hours. Prices start at $149.99 for the eTrex SE and $499.99 for the GPSMAP 67.
Garmin (NYSE: GRMN) unveiled its Forerunner 265 and Forerunner 965, the first GPS running smartwatches featuring vibrant AMOLED displays. These models boast an optional always-on display and user-friendly touchscreen, enhancing the running experience. The Forerunner 265 offers up to 15 days of battery life, while the 965 features a titanium bezel and provides up to 23 days. Both watches include advanced training metrics and recovery insights, helping athletes optimize performance. The Forerunner 265 is priced at $449.99, while the Forerunner 965 will be available in late March for $599.99.
Garmin Ltd. (NYSE: GRMN) reported its fourth quarter 2022 results, revealing a 6% decline in consolidated revenue to $1.31 billion. The company achieved a gross margin increase to 57.0% despite an operating income decrease of 15% to $267 million. For fiscal year 2022, Garmin's revenue totaled $4.86 billion, down 2%, influenced by currency fluctuations. Notably, the aviation segment grew by 27% in Q4, while the fitness segment faced a 28% revenue drop. Garmin projects a revenue increase to approximately $5.00 billion for 2023 with a pro forma EPS of $5.15.
Garmin will supply its fēnix® 7 adventure watches for the upcoming Polaris Dawn space mission, aiding research into how space travel impacts human health. The mission, set to launch aboard a SpaceX Falcon 9 from NASA's Kennedy Space Center, aims to gather biometric data from crew members over a five-day period using Garmin's smartwatches. Key metrics such as heart rate and sleep patterns will be monitored continuously without needing battery recharges. This collaboration with the Translational Research Institute for Space Health focuses on advancing knowledge of human adaptation to space conditions.
Garmin (NYSE: GRMN) has launched the vívomove Trend, a stylish hybrid smartwatch that combines a classic analog design with essential smart features. This smartwatch offers health and fitness tracking capabilities, including all-day stress monitoring, sleep scoring, and various preloaded activities. The vívomove Trend boasts impressive battery life of up to 5 days in smartwatch mode and supports wireless charging. With a suggested retail price starting at $269.99, it caters to users seeking both functionality and fashion. Available in multiple colorways, it supports smartphone notifications and Garmin Pay for contactless payments.
Garmin (NYSE: GRMN) has launched the Apollo WB675 Marine Hideaway Stereo, enhancing boat audio options with a compact design that maximizes dash space. The new stereo features Multi-Zone™ Technology, allowing customization of four audio zones for an advanced listening experience. It streams premium audio via Apple AirPlay® 2 and incorporates Digital Signal Processing for superior sound quality. Designed for durability, the WB675 is tested against harsh marine conditions and comes with a three-year warranty. Priced at $499.99, this stereo reflects Garmin's commitment to innovation in marine electronics.
Garmin (NYSE: GRMN) has unveiled its FDA-cleared ECG App for the Venu 2 Plus smartwatch, enabling users to record a 30-second ECG and monitor for signs of atrial fibrillation (AFib) anytime. This groundbreaking feature is aimed at enhancing user health management by allowing immediate heart rhythm results on the device and detailed reports via the Garmin Connect app. Available in the United States, the app is part of Garmin's ongoing efforts to innovate health-focused wearable technology. Garmin plans to expand the ECG App to other products and regions pending regulatory approvals.
Garmin Ltd. (NYSE: GRMN) will host its Fourth Quarter 2022 earnings conference call on February 22, 2023, at 10:30 a.m. EST. This event coincides with the release of its earnings report, which will be made available before market opening on the same day. Interested participants can join via webcast or register for a dial-in number to participate in the question-and-answer session. An archive of the webcast will remain accessible until February 21, 2024.
Garmin is committed to developing innovative technology for athletes and outdoor enthusiasts, reinforcing its position in the market.