WS Investor
28 Oct 2026, 14:51
Garmin Falls 1.1% Despite Record Q3 Revenue, Margin Expansion and Higher Guidance
Garmin (NYSE: GRMN) shares fell about 1.1% even after the company reported record third-quarter 2026 results and raised its full-year outlook.
Revenue increased 12% year over year to a record $1.99 billion. Gross margin expanded to 63.3%, while operating margin improved to 30.8%.
Operating income jumped 34% to a record $612 million. GAAP EPS reached $2.80, while pro forma EPS increased 39% year over year to $2.76.
Product momentum remained strong, with Garmin launching the fēnix 9 and fēnix 9 Pro smartwatch series. The company also highlighted continued strength in aviation, including delivery of its 1,000th G1000 retrofit for King Air aircraft and more than 2,500 aircraft equipped with Garmin Autoland.
Management raised its full-year guidance following the stronger quarter.
The 1.1% decline appears to reflect a muted market reaction or profit-taking rather than deterioration in the underlying business, as Garmin delivered double-digit sales growth, substantial margin expansion and sharply higher earnings.
Garmin (NYSE: GRMN) shares fell about 1.1% even after the company reported record third-quarter 2026 results and raised its full-year outlook.
Revenue increased 12% year over year to a record $1.99 billion. Gross margin expanded to 63.3%, while operating margin improved to 30.8%.
Operating income jumped 34% to a record $612 million. GAAP EPS reached $2.80, while pro forma EPS increased 39% year over year to $2.76.
Product momentum remained strong, with Garmin launching the fēnix 9 and fēnix 9 Pro smartwatch series. The company also highlighted continued strength in aviation, including delivery of its 1,000th G1000 retrofit for King Air aircraft and more than 2,500 aircraft equipped with Garmin Autoland.
Management raised its full-year guidance following the stronger quarter.
The 1.1% decline appears to reflect a muted market reaction or profit-taking rather than deterioration in the underlying business, as Garmin delivered double-digit sales growth, substantial margin expansion and sharply higher earnings.
