Garmin Reports Record Q3 Earnings and Raises 2026 Guidance

Garmin Ltd. reported third-quarter adjusted earnings per share of $2.76 and revenue of $1.99 billion, surpassing analyst expectations of $2.39 per share. The company achieved record operating results, with operating income increasing 34% year-over-year to $612 million.

Growth was led by the outdoor segment, which grew 20% following the launch of the fēnix 9 series, and the fitness segment, which saw a 16% revenue increase. These gains offset a 20% decline in the auto OEM segment.

Based on these results, the company raised its full-year 2026 guidance to approximately $8.15 billion in revenue and adjusted EPS of $10.80, both of which exceed Wall Street consensus forecasts. President and CEO Cliff Pemble attributed the performance to strength across markets and product categories, noting meaningful contributions from recently launched products.