Garmin Reports Record Q3 2026 Results and Raises Full-Year Guidance

Executive Overview

On October 28, 2026, Garmin Ltd. filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition), furnishing its financial results for the fiscal third quarter ended September 26, 2026, via Exhibit 99.1.

Key Financial Highlights

• Consolidated Net Sales: Reached a record $1.986 billion, representing a 12% year-over-year increase compared to $1.771 billion in Q3 2025. For the 39-week period, net sales totaled $5.762 billion, up 13% from $5.121 billion in the prior-year period.
• Profitability & Margins: Gross margin expanded to 63.3% and operating margin expanded to 30.8%.
• Operating Income: Hit a record $612 million, up 34% compared to the prior-year quarter.
• Diluted Earnings Per Share (EPS): GAAP EPS stood at $2.80, with pro forma EPS at $2.76—a 39% increase over Q3 2025 pro forma EPS.
• Guidance: The company officially raised its full-year guidance for 2026.

Segment Performance Highlights

• Fitness: Net sales rose 16% year-over-year to $694.3 million (up 26% year-to-date to $1.998 billion).
• Outdoor: Net sales climbed 20% year-over-year to $597.3 million.

Operational Milestones

• Named 2026 Manufacturer of the Year by the National Marine Electronics Association for the 12th consecutive year, winning six Product of Excellence awards.
• Launched the flagship fēnix® 9 and fēnix® 9 Pro adventure smartwatch lineup.
• Reached the delivery milestone of the 1,000th G1000® integrated flight deck retrofit for King Air aircraft.
• Surpassed 2,500 aircraft equipped with the certified Garmin Autoland system.