Welcome to our dedicated page for Garmin news (Ticker: GRMN), a resource for investors and traders seeking the latest updates and insights on Garmin stock.
Garmin Ltd. (NYSE: GRMN) regularly issues news covering its GPS-enabled devices, software platforms and technology solutions across fitness, outdoor, automotive, aviation and marine markets. As a Swiss-incorporated manufacturer with principal subsidiaries in the United States, Taiwan and the United Kingdom, Garmin uses press releases to highlight new products, platform updates, collaborations and financial communications.
Recent announcements illustrate the range of Garmin’s news. In fitness and health, the company has introduced nutrition tracking within the Garmin Connect app and Garmin Connect+ plan, allowing users to log calories and macronutrients, access a global food database, use AI-powered food recognition and receive Active Intelligence insights that relate nutrition to sleep, training and overall wellbeing. Annual Garmin Connect Data Reports summarize global activity and health trends drawn from the Garmin user community.
In outdoor and marine categories, Garmin news includes launches such as the inReach Mini 3 Plus satellite communicator for backcountry connectivity and safety, and JL Audio AP Amplifiers designed for boats and off-road vehicles with rugged construction and IP67 water and dust resistance. For mariners, Garmin has also announced nautical smartwatches like the quatix 8 Pro, which combine marine-focused features with satellite and cellular connectivity where available.
Garmin’s aviation and automotive OEM updates feature integrated flight decks like the G5000H for helicopter upgrades, as well as automotive platforms such as Unified Cabin and the Nexus high-performance compute platform developed with Qualcomm Technologies. These releases describe capabilities ranging from synthetic vision and terrain awareness in cockpits to AI/LLM-based virtual assistants, digital keys and multi-domain computing in vehicles.
Investors can also find news about upcoming earnings conference calls and quarterly results, which are referenced in Form 8-K filings and associated press releases. For anyone following GRMN, this news feed offers a centralized view of product introductions, technology demonstrations, partnerships and corporate updates.
Garmin Ltd. (NYSE: GRMN) reported record first-quarter revenue of $1.17 billion, marking a 9% year-over-year increase. Key segments showed mixed performance: Fitness revenue declined 28%, while Outdoor saw an impressive 50% growth. Operating income reached $229 million, down 8% from last year, with GAAP EPS at $1.09. The company launched new products, including updated adventure watches and high-resolution sonar technology. Despite challenges from rising freight costs and supply chain issues, Garmin aims for a full-year revenue of $5.5 billion.
Garmin has launched the vívosmart 5, a smart fitness tracker designed for ease of use and comfort, featuring a 66% larger display and a battery life of up to 7 days. It includes advanced health monitoring such as 24/7 heart rate tracking, Pulse Ox, and sleep score. The device supports various sports apps and offers safety features like assistance alerts. Priced at $149.99, the vívosmart 5 emphasizes a minimalist approach to personal health management without requiring a subscription.
Garmin Ltd. (NYSE: GRMN) will host its first quarter 2022 earnings conference call on April 27, 2022, at 10:30 a.m. EDT. The call follows the company's earnings release, scheduled for the same day before market open. Investors can join the call via this link or by dialing 855-757-3897. A replay of the webcast will be available until April 26, 2023. Garmin is dedicated to innovation across aviation, automotive, fitness, marine, and outdoor sectors.
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Garmin continues its dominance in marine electronics, highlighted by Jason Christie's win at the 2022 Bassmaster Classic, held from Mar. 4-6 at Lake Hartwell, South Carolina. Christie achieved a total weight of 54 pounds, with significant contributions from Garmin's LiveScope technology. Notably, nine of the top ten finishers used Garmin products, showcasing the brand's industry leadership.
Garmin's ECHOMAP Ultra series and Force trolling motor were crucial for competitor success, reinforcing Garmin's reputation as a leading provider of innovative marine electronics.
Garmin announced that the Federal Aviation Administration (FAA) has granted Supplemental Type Certification (STC) for the GI 275 electronic flight instrument, set for completion in March 2022. This instrument is designed for Part 27 VFR helicopters, starting with the Bell 206. Designed to replace legacy flight instruments, the GI 275 offers a cost-effective upgrade with modern features, including a high-resolution touchscreen and optional synthetic vision technology. Expected additional certifications for other helicopter models in the second half of 2022 will enhance Garmin's presence in the aviation market.
Garmin has launched the Descent G1 Solar dive computer, featuring dive modes, health monitoring, and smartwatch functionality. Available in two models, priced at $549.99 and $649.99, the device boasts solar charging capabilities, up to 25 hours of battery life in dive mode, and includes advanced dive features for various skill levels. The product is designed for both recreational and technical divers, offering multi-GNSS support for accurate location logging and a range of health and fitness tracking capabilities. The Descent G1 Series is now available for purchase.
Garmin has launched the LiveScope Plus System, enhancing live-scanning sonar technology for recreational fishing. The system boasts 35% improved target separation and clearer images, allowing anglers to see structures and fish in real-time, even while stationary. Features include three modes – Forward, Down, and Perspective – with easy installation and integration with Garmin chartplotters. The LiveScope Plus System is priced at $1,699.99 and the LVS34 transducer at $1,199.99, both available next month.
Garmin Ltd. (NYSE: GRMN) reported a record revenue of $4.98 billion for the fiscal year 2021, marking a 19% increase year-over-year. The fourth quarter revenue reached $1.39 billion, up 3% compared to the previous year. Despite strong performance, operating income fell 15% in Q4 to $315 million. Gross margins stood at 58.0%, while operating margins decreased from 25.2% to 24.5% for the year. Garmin anticipates 2022 revenue to be around $5.5 billion, suggesting a 10% growth, with pro forma EPS projected at $5.90. The company also announced a dividend increase alongside positive recognition for several product innovations.