Garmin (GRMN) witnessed a 10% surge in its stock price on Wednesday following its impressive fourth-quarter financial report, which surpassed expectations. The multi-sport watches maker not only delivered a beat on both its top and bottom-line figures but also provided an optimistic revenue guidance for the current year.<\/p>\n\n\n\n
CEO Cliff Pemble expressed confidence in the company’s momentum for 2024, attributing it to a robust product lineup and planned launches throughout the year.<\/p>\n\n\n\n
In the fourth quarter, Garmin posted a pro forma EPS of $1.72, surpassing estimates by $0.32, with quarterly revenue reaching $1.48 billion, $60 million higher than consensus.<\/p>\n\n\n\n
Notably, the Fitness segment reported a remarkable 22% increase in fourth-quarter revenues, driven by strong demand for wearables across all categories. However, the Aviation segment experienced a 4% decline in quarterly revenues, primarily due to decreases in aftermarket categories.<\/p>\n\n\n\n
For the full year, Garmin recorded revenue of $5.23 billion, marking an 8% increase, and pro forma EPS of $5.59, up 9% from the previous year.<\/p>\n\n\n\n
Garmin concluded the quarter with approximately $3.1 billion in cash and marketable securities, indicating a strong financial position moving forward.<\/p>\n","protected":false},"excerpt":{"rendered":"
Garmin (GRMN) witnessed a 10% surge in its stock price on Wednesday following its impressive fourth-quarter financial report, which surpassed expectations. The multi-sport watches maker not only delivered a beat on both its top and bottom-line figures but also provided an optimistic revenue guidance for the current year. CEO Cliff Pemble expressed confidence in the […]<\/p>\n","protected":false},"author":1,"featured_media":1382,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"8","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar-narrow","sidebar":"author","second_sidebar":"single-right","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"jnews_post_split":{"enable_post_split":"0","post_split":[{"template":"1","tag":"h2","numbering":"asc","mode":"normal","first":"0","enable_toc":"0","toc_type":"normal"}]}},"categories":[313,361],"tags":[],"coauthors":[453],"_links":{"self":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1383"}],"collection":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/comments?post=1383"}],"version-history":[{"count":1,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1383\/revisions"}],"predecessor-version":[{"id":1384,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/posts\/1383\/revisions\/1384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media\/1382"}],"wp:attachment":[{"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/media?parent=1383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/categories?post=1383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/tags?post=1383"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/stoxpo.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=1383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}