2024

Stellar

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">In the latest <a aria-label="financial disclosures (opens in a new tab)" href="https://www.prnewswire.com/news-releases/garmin-announces-fourth-quarter-and-fiscal-year-2023-results-302067000.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">financial disclosures</a>, Garmin Ltd. (NYSE: GRMN) has outpaced industry forecasts, showcasing a robust performance for the fourth quarter ended December 30, 2023. The company reported a consolidated revenue of $1.48 billion, marking a 13% increase from the previous year. This growth was driven by significant achievements across various segments, including a 27% increase in operating income to $340 million and a gross margin expansion to 58.3% from 57.0%.</p> 
<p>Notably, Garmin’s GAAP EPS stood at $2.82, with pro forma EPS at $1.72, representing a 27% growth over the prior year quarter.</p> 
<h3 id="garmin-outperforms-expectations-in-q4">Garmin Outperforms Expectations in Q4</h3> 
<p>Comparing Garmin’s current performance to the anticipated figures, the company has significantly exceeded expectations. Analysts had projected earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) of $1.4 and revenue of $1.43 billion for the quarter. Garmin’s actual revenue of $1.48 billion and pro forma EPS of $1.72 outstrip these forecasts, underlining the company’s ability to outperform in a challenging market environment. This overachievement is attributed to robust product demand across Garmin’s diverse portfolio, including fitness wearables, outdoor adventure watches, and marine electronics</p> 
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<h3 id="guidance">Guidance</h3> 
<p>Looking ahead, Garmin provides optimistic guidance for the fiscal year 2024, with expectations of approximately $5.75 billion in revenue, indicating a 10% increase over 2023. The company also anticipates a pro forma EPS of roughly $5.40, based on an estimated gross margin of 56.5% and an operating margin of around 20.0%. This forward-looking stance reflects Garmin’s confidence in its product pipeline and strategic initiatives to sustain growth and market expansion.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/garmin-ltd-grmn-surges-ahead-with-stellar-q4-results-and-bright-outlook-for-2024/">Garmin Ltd. (GRMN) Surges Ahead with Stellar Q4 Results and Bright Outlook for 2024</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Garmin Ltd. (GRMN) Surges Ahead with Stellar Q4 Results and Bright Outlook for 2024

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