Garmin Stock Price, News & Analysis

Garmin has announced the availability of the G1000 NXi flight deck for integration with the Blackhawk XP67A Engine+ Upgrade for King Air 300 and 350 models. This upgrade enhances aircraft performance, allowing for maximum cruise speeds of up to 343 knots and a climb rate of 4,000 feet per minute. The G1000 NXi is now certified for King Air 350 with a max gross weight of 16,500 lbs, significantly benefiting operators, especially for special missions. The integrated upgrade can be completed with minimal downtime and offers a two-year warranty.

Garmin has launched a new pregnancy tracking feature in its Garmin Connect app, aimed at providing insights for expectant mothers. This feature allows users to log pregnancy symptoms, track baby movements, and receive personalized health recommendations. Major functionalities include a pregnancy timeline, heart rate monitoring during workouts, and customized reminders. The tool is available on popular Garmin devices, reinforcing Garmin's commitment to enhancing women's health technology.

Garmin Ltd. (GRMN) reported third-quarter 2020 results with total revenue exceeding $1.1 billion, a 19% year-over-year growth. Key growth drivers were marine (54% increase), fitness (35%), and outdoor (30%) segments. Gross margin was 60.2% and operating margin 28.6%, leading to operating income of $317 million, up 21%. GAAP diluted EPS reached $1.63, representing a 37% increase. The company expects full-year 2020 revenue around $4.0 billion and pro forma EPS of $4.70.

Garmin introduced the STRIKER™ Cast, a versatile castable fishfinder designed for anglers. It wirelessly transmits sonar data to smartphones or tablets, aiding users in locating fish and structures in both fresh and saltwater. The device operates in depths from less than 2 ft to 150 ft and has features like built-in GPS for creating fishing maps. STRIKER Cast comes in two models priced at $179.99 and $129.99. This launch aligns with growing consumer interest in outdoor activities.

Garmin has launched the STRIKER™ Vivid series, enhancing its fishfinder products with seven new high-contrast color palettes for improved sonar visibility. Featuring Garmin's CHIRP technology, users benefit from crystal-clear fish arches and enhanced target separation. The series includes a built-in GPS for easy marking of fishing spots and route planning, along with Quickdraw Contours for HD mapping. With built-in Wi-Fi, users can connect to the ActiveCaptain app for notifications and updates. Prices range from $179.99 to $599.99 and will be available next month.

Garmin International has launched its new GPSMAP 7x3, 9x3, and 12x3 series of mid-sized chartplotters, enhancing marine navigation with advanced features and sleek designs. The new models offer improved resolution, nearly double the processing power, and high-resolution displays for excellent clarity. They include built-in sonar capabilities and Garmin's exclusive cartography. Prices range from $999.99 to $2899.99, with availability expected next month.

Garmin International has launched the Instinct® Esports Edition, a GPS smartwatch designed for esports individuals. This device features advanced health and fitness tracking to monitor heart rate and stress levels during gaming sessions. It includes a dedicated esports activity profile and the STR3AMUP!™ tool for livestreaming biometric data. With a battery life of up to 80 hours in esports mode, the smartwatch supports smart notifications and is built to military standards. Priced at $299.99, it aims to enhance both cognitive and physical performance in competitive environments.

Garmin has launched its latest dive computers, the Descent Mk2 and Descent Mk2i, featuring advanced air integration through the new SubWave sonar technology. These devices provide tank pressure data and monitor multiple diver metrics, boasting a larger display and enhanced smartwatch functionalities. The Descent Mk2 series supports various dive modes and can track data like depth and gas consumption. With up to 16 days of battery life in smartwatch mode and 80 hours in dive mode, the devices are priced from $1,299.99 to $1,499.99, available now, while the T1 transmitter will be released later in Q4 2020.

Garmin International has received the 2020 Grand Laureate Award in Business Aviation from Aviation Week Network for its innovative Autoland technology. This system enables general aviation aircraft to land autonomously without pilot intervention, enhancing flight safety. The award was presented during a virtual ceremony on October 19, 2020. Autoland has already achieved FAA certification for certain aircraft models and is set to be featured in over 100 aircraft by the end of 2020. Garmin's commitment to aviation safety and technological advancement is underscored by this recognition.