Garmin stock at EUR 251.15 after record Q3 and higher outlook
Published on 10/29/2026 at 17:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecord quarter raises the bar
- Garmin reported third-quarter revenue of USD 1.99 billion, up 12 percent year over year.
- Operating income increased 34 percent, while pro forma diluted earnings per share rose 39 percent.
- The company lifted its full-year 2026 revenue and pro forma earnings outlook.
Garmin stock was trading at EUR 251.15 at Lang & Schwarz at 4:43 p.m. Berlin time on October 29, 2026. That was 3.70 percent above the Xetra close of EUR 242.20 on October 28. The quote was also 3.74 percent above the EUR 242.10 level recorded in the latest relevant AD HOC NEWS report on October 28.
Garmin announced its third-quarter results on October 28 for the period ended September 26, 2026. According to the FinanzNachrichten.de, consolidated revenue reached USD 1.986 billion, an increase of 12 percent from the prior-year quarter.
Profit growth outpaced sales
Operating income rose 34 percent to USD 611.6 million, and the operating margin expanded to 30.8 percent from 25.8 percent a year earlier. GAAP diluted earnings per share were USD 2.80, while pro forma diluted earnings per share reached USD 2.76, up 39 percent year over year. The pro forma figure excludes foreign-currency gains and losses and is therefore not a GAAP measure.
Fitness revenue increased 16 percent to USD 694.3 million, and Outdoor revenue climbed 20 percent to USD 597.3 million. Marine sales rose 16 percent to USD 309.9 million, while Aviation grew 5 percent to USD 252.7 million. Auto OEM revenue declined 20 percent to USD 131.9 million and generated an operating loss in the quarter.
Full-year outlook moves higher
Garmin raised its 2026 revenue outlook to approximately USD 8.15 billion and its pro forma earnings-per-share outlook to USD 10.80. The updated framework assumes a 61.0 percent gross margin, a 29.0 percent operating margin and a 16.5 percent tax rate. Management said the outlook reflects performance through the first three quarters and expectations for the holiday period.
The company also highlighted product activity including the fenix 9 and fenix 9 Pro adventure watch series, the CIRQA Smart Band and new aviation and marine products. For investors, the combination of segment growth, margin expansion and higher guidance is the main change from the prior report, while the Auto OEM decline remains a counterweight.
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Garmin Ltd. market details
- Company: Garmin Ltd.
- ISIN: CH0114405324
- German ticker: GEY
- WKN: A1C06B
- Primary exchange: NYSE
- Lang & Schwarz price: EUR 251.15 on October 29, 2026 at 4:43 p.m. Berlin time
- Change versus prior Xetra close: plus 3.70 percent
- Xetra close: EUR 242.20 on October 28, 2026
- Sector: Technology
