Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
NEW YORK - Garmin Ltd . (NYSE:GRMN) shares jumped 2.90% in pre-market trading Wednesday, after the GPS technology company reported fourth-quarter earnings and revenue that easily beat analyst expectations and provided an upbeat outlook for 2025.
The Swiss-American company posted adjusted earnings per share of $2.41 for the quarter ended December 28, 2024, surpassing the consensus estimate of $1.91 by 26%. Revenue rose 23% YoY to $1.82 billion, also topping analysts’ projections of $1.65 billion.
"2024 was a year of remarkable growth and achievement for Garmin, resulting in record full-year consolidated revenue and record full-year revenue in all five of our segments, as well as record full-year consolidated operating income," said Cliff Pemble, President and CEO of Garmin.
For fiscal 2025, Garmin expects revenue of approximately $6.80 billion, above Wall Street’s forecast of $6.72 billion. The company projects full-year pro forma EPS of around $7.80.
Garmin saw strong growth across all its business segments in Q4, with fitness revenue up 31% YoY to $539.3 million and outdoor revenue climbing 29% to $629.4 million. The company’s gross margin expanded to 59.3% from 58.3% a year earlier.
The Board of Directors intends to recommend a 20% increase in the annual dividend to $3.60 per share, payable in four equal installments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.