Garmin Stock Price, News & Analysis

Garmin has launched the Adventure Racing sport profile, allowing endurance athletes to track vital information during competitions using the Enduro multisport watch. This update enables competitors to monitor biometric data and utilize features like altimeter and compass while adhering to Adventure Racing rules. The Enduro watch offers a battery life of up to 70 hours in GPS mode. Athletes can now compete while keeping the watch on, enhancing their experience during rugged multisport events.

Garmin (NASDAQ: GRMN) has launched its innovative Surround View Camera System, designed for recreational boating and yachting. This system utilizes six 1080p cameras to provide a live 360-degree view around the vessel, enhancing situational awareness for low-speed maneuvers like docking. Key features include a Visual Bumper for obstacle detection and Distance Markers for navigating tight spaces. The system integrates seamlessly with Garmin chartplotters and is available for demonstration at the Cannes Yachting Festival and Fort Lauderdale Boat Show. This innovation aims to improve safety and ease of boating operations.

The board of Garmin Ltd. (NASDAQ: GRMN) has announced a dividend of $0.67 per share, payable on September 30, 2021, with a record date of September 15, 2021. This is part of an overall cash dividend approved at the 2021 annual shareholders’ meeting, totaling $2.68 per share, to be distributed in four equal installments. The first installment was paid on June 30, 2021. Future payments are scheduled for December 31, 2021 and March 31, 2022, pending board approval.

Garmin Ltd. (NASDAQ: GRMN) has partnered with Malibu Boats, Inc. to exclusively equip its Axis Wake Research boats with a customized 7-inch touchscreen display starting in model year 2022. This collaboration underscores Garmin's commitment to enhancing the boating experience with superior technology and reliability. The new display will feature customized shortcut keys and is designed to withstand the marine environment, supporting enhanced functionality for water sports enthusiasts. Garmin's market leadership in marine electronics continues to be reinforced through such strategic partnerships.

Garmin has launched the Approach R10, a portable golf launch monitor designed to enhance golfers' performance. This device provides real-time metrics such as club head speed, ball speed, and swing tempo, making it suitable for golfers at all levels. The Approach R10 features a Training Mode for tracking stats and a Home Tee Hero simulator offering access to over 42,000 golf courses. Priced at $599.99, it includes a 30-day free trial for Garmin Golf app premium membership, allowing users to participate in weekly tournaments and utilize advanced golfing simulations.

Garmin International, a unit of Garmin Ltd. (NASDAQ: GRMN), has launched the Apollo™ Series amplifiers from Fusion® Entertainment. These amplifiers enhance audio clarity and reduce distortion for boats equipped with Fusion DSP-enabled stereos. Key features include 150 W RMS per channel, High Power Mode, and Multiple Protection Modes. Installation is simplified with in-the-box mounting brackets and the Fusion-Link app. The amplifiers are available in various channel options, priced from $179.99 to $949.99. Garmin aims to provide high-end audio quality for marine environments.

Garmin Ltd. (NASDAQ: GRMN) reported a record revenue of $1.33 billion for Q2 2021, marking a 53% increase year-over-year, driven by strong performance across all segments. Operating income surged 97% to $371 million, and GAAP EPS rose to $1.64, an 85% increase in pro forma EPS. The company launched several new products, including Venu 2 smartwatches and the Descent Mk2S dive computer. Despite a marginal dip in gross margin to 58.8%, Garmin raised its full-year guidance to approximately $4.9 billion in revenue and $5.50 in pro forma EPS.

Garmin International Inc. has announced enhancements to the GI 275 engine indication system (EIS) aimed at improving pilot interface and data accessibility. Key updates include enhanced display layouts, a new Flight Summary Page for real-time data analysis, and customizable EIS fields. The touchscreen interface now allows quick page navigation. Additionally, the GI 275 EIS includes wireless data logging features, enabling pilots to stream real-time data through the Garmin Pilot App. These updates are expected to roll out in August 2021, providing a modern solution for piston-powered aircraft.

Garmin has launched Smart Glide, a safety tool that automates cockpit tasks during engine power loss emergencies, reducing pilot workload. Integrating with Garmin's existing avionics, Smart Glide recommends suitable airports within glide range, optimizing settings for a safe landing. Activation can be done via a dedicated button or a long press of the Direct-to button. The feature enhances situational awareness with real-time updates and automates flight adjustments, significantly aiding pilots in high-stress situations. It will be available as a software upgrade in August 2021.