Garmin (NYSE:GRMN) surged more than 14% intra-day today after posting better-than-expected fourth-quarter results, with both earnings and revenue surpassing analyst estimates, alongside an upbeat forecast for 2025.
For Q4, the GPS technology leader reported adjusted earnings per share of $2.41, beating expectations of $1.91 by 26%. Revenue surged 23% year-over-year to $1.82 billion, well ahead of the $1.65 billion consensus forecast.
The company credited its record-setting year to strong performance across all five of its business segments, marking historic highs in revenue and operating income for the full year.
Looking ahead, Garmin provided a bullish outlook for 2025, forecasting full-year revenue of approximately $6.80 billion, above analysts' $6.72 billion projection. The company also expects EPS of around $7.80, reflecting continued profitability and operational strength.
Garmin saw broad-based momentum in Q4, with fitness revenue jumping 31% to $539.3 million and outdoor segment sales rising 29% to $629.4 million. The company also expanded its gross margin to 59.3% from 58.3% a year earlier, highlighting improved efficiency and pricing power.
