Garmin
Logotype for Garmin Ltd

Garmin (GRMN) investor relations material

Garmin Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Garmin Ltd
Q2 2026 earnings summary29 Jul, 2026

Executive summary

  • Achieved record Q2 2026 revenue of $2.02 billion, up 11% year-over-year, with operating income up 30% to $616 million, driven by strong product demand and favorable mix, especially in Fitness and Marine segments.

  • Pro forma EPS rose 29% to $2.81; GAAP EPS was $2.80; gross and operating margins expanded, aided by a $21 million tariff refund.

  • Raised full-year 2026 guidance for revenue to $8.05 billion and pro forma EPS to $10.00, reflecting strong first-half results.

  • Strategic focus on services and recent acquisitions (TrainingPeaks, TrainHeroic) to enhance the Fitness segment and expand offerings for athletes and coaches.

  • All business segments contributed to growth, with especially strong performance in Fitness and Marine; Outdoor saw a slight decline.

Financial highlights

  • Gross margin reached 62.4% (up 360 bps YoY), primarily from product mix and tariff refunds; operating margin expanded to 30.4% (up 440 bps YoY).

  • Free cash flow for Q2 was $276 million; cash and marketable securities at $4.4 billion.

  • Paid $202 million in dividends and repurchased $43 million in stock during Q2; $448 million remains in repurchase authorization.

  • GAAP EPS was $2.80 (up 35% YoY); pro forma EPS was $2.81 (up 29% YoY).

  • Operating expenses increased 9% YoY to $647 million; R&D expenses were $400 million; SG&A expenses were $343 million.

Outlook and guidance

  • Full-year 2026 revenue guidance raised to $8.05 billion; EPS guidance increased to $10.00; gross margin guidance at 59.7%, operating margin at 27%, and effective tax rate at 16.5%.

  • Stronger revenue performance expected in the second half due to timing of product launches.

  • Management expects continued resilience due to a diversified business model despite global supply constraints and currency fluctuations.

Product categories dragging Outdoor performance
Impact of tariff refunds on Q2 gross margins
Drivers of Auto OEM's return to profitability
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.
Research faster. Power your platform.

Next Garmin earnings date

Logotype for Garmin Ltd
Q3 202628 Oct, 2026
Garmin
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Garmin earnings date

Logotype for Garmin Ltd
Q3 202628 Oct, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Explore our global coverage