Garmin Stock Price, News & Analysis

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.

Garmin International has received Supplemental Type Certificate (STC) approval for its GFC 600H flight control system on the Bell 505 helicopter. This system enhances safety with features like attitude hold, hover assist, and low-speed protection, reducing pilot workload significantly. The GFC 600H integrates smoothly with the G1000H avionics system, allowing precise navigation and automated flight operations. It will be available as a factory-installed option in new helicopters and as a retrofit option in August 2021, marking a significant advancement in helicopter flight control technology.

Garmin announced the launch of the LiveScope Ice Fishing Bundle LI, a state-of-the-art chartplotter and transducer package featuring advanced Panoptix LiveScope sonar technology. This bundle includes a lightweight lithium battery, offering a significant advantage with up to 65% more battery life compared to traditional lead-acid batteries. The bundle is designed for real-time fish tracking with two sonar modes and comes equipped with a large ECHOMAP UHD 93sv touchscreen, preloaded with detailed lake maps. Retailing at $2,999.99, the product will be available in September 2021.

Garmin Ltd. (Nasdaq: GRMN) announces its second quarter 2021 earnings conference call scheduled for July 28, 2021, at 10:30 a.m. ET. Executives will discuss earnings details, which will be released prior to market open on the same day. Interested parties can join the call via a dedicated website link or by phone. The event aims to provide insights into Garmin's financial performance for the quarter.

Archive access for the call will be available until July 27, 2022. For additional information, visit Garmin's investor relations site.

Garmin International announced TXi engine indication system (EIS) support for select twin turboprop aircraft, enhancing cockpit modernization. Key features include engine timers, exceedance recordings, and wireless data logging, leading to improved efficiency and reduced maintenance costs. The TXi EIS will be available for Cessna 425, King Air 90 series, and select Piper Cheyenne variants. Enhancements also cover dynamic markings and electronic ignition support, set to be released in July via Garmin dealers, backed by a two-year warranty.

Garmin announced that pro angler Hank Cherry Jr. won the Academy Sports + Outdoors Bassmaster Classic, marking his second consecutive victory. Cherry achieved a weight total of 50 pounds 15 ounces, making him one of only four anglers to win back-to-back Classics in its 51-year history. He relied on Garmin's ECHOMAP Ultra chartplotters and Panoptix LiveScope sonar to secure his win. David Dunn, Garmin's senior director of marine sales, praised Cherry's achievement, celebrating Garmin's presence in the tournament with 14 anglers competing, including others who placed in the top five.