Feed - Buzzberg

14:30
Jul 29 ◎

GRMN FY2026 Q2 Watch

Garmin Ltd. (GRMN) FY2026 Q2 Earnings Call

ERJ MBG.DE MU GRMN SNDK ▾

Clif Pemble

While largely praise, this signals continued strong demand and co-development with Embraer, supporting Garmin's aviation growth outlook.

"For the 11th consecutive year, we were named Best Supplier of the Year by Embraer, who recognized us for outstanding performance as a supplier of electrical and electronic systems for their Phenom business jets."

ERJ WATCH

Clif Pemble

Management explicitly plans for the auto OEM segment to hit an air pocket in 2H26 before a major Mercedes-Benz program launch in early 2027, indicating a specific capex/development cycle for the auto OEM.

"we are expecting revenue to decline and the return to an operating loss in the back half of 2026, leading up to the launch of our next major program with Mercedes-Benz in 2027."

MBG.DE WATCH

Doug Boessen

Despite global memory cost inflation, Garmin has been insulated so far due to strategic inventory, but expects costs to hit in 2H26, narrowing margin expansion. — Signals that the memory cost spike is real but will be offset by consumption of cheap inventory for ~3-6 months, warning of a potential inventory re-stocking spike for component suppliers in 2H26.

"Your day results have not been significantly impacted by higher memory costs. However, we do expect higher memory costs impact the second half, which has been factored into our full year gross margin guidance."

MU WATCH SNDK WATCH

Clif Pemble

Raised full-year guidance signals strong momentum across segments, driven by robust consumer demand in fitness and wearables, counterbalanced by known headwinds in auto OEM and memory costs.

"Our first half performance exceeded expectations and gives us confidence to raise our full year 2026 guidance. We now expect 2026 revenue of approximately $8.05 billion and Proforma EPS of $10 per share."

GRMN WATCH

Clif Pemble

Garmin's auto OEM business is past the peak of BMW volumes, which will drive a decline in that segment in 2H26.

"We do expect back half revenue to decline versus 2025 as we've reached the peak of our BMW volumes."

BMW.DE WATCH

HIGH

14:30
Apr 29 ◎

GRMN FY2026 Q1 Watch

Garmin Ltd. (GRMN) FY2026 Q1 Earnings Call

MBG.DE BMW.DE GRMN ▾

Cliff Pemble

Mercedes-Benz is a major growth catalyst; the new program is more complex with higher ASPs and expected to drive significant revenue growth starting in 2027.

"We continue to achieve important milestones leading up to the launch of our next large scale program with Mercedes-Benz. which we anticipate will drive significant growth starting in 2027 and beyond."

MBG.DE WATCH

Cliff Pemble

BMW's program is at peak volumes and ramping down, which will drag on Garmin's Auto OEM segment revenue in 2026.

"As a reminder, we expect AutoEM revenue to decrease in 2026 as the BMW program has reached peak volumes and as certain legacy programs approach end of life."

BMW.DE WATCH

Cliff Pemble

Guidance is maintained despite strong results, but tone is optimistic about the year, driven by strong demand, resilient consumers, and a strong product pipeline.

"Even in these challenging circumstances, we believe that great products and customer service always win."

GRMN WATCH

HIGH

15:30
Feb 18 ◎

GRMN FY2025 Q4 Watch

Garmin Ltd. (GRMN) FY2025 Q4 Earnings Call

META MBG.DE GRMN ▾

Cliff Pimble

Meta is a partner in exploring automotive cabin interaction; early phase, no volume or revenue impact yet.

"we also announced our collaboration with Meta to explore new ways of interacting with the vehicle."

META WATCH

Cliff Pimble

Mercedes-Benz is a major new customer for Garmin's automotive domain controllers; the program is expected to ramp aggressively starting in early 2027, becoming a key growth driver for the Auto OEM segment.

"This program is with renowned global automaker Mercedes-Benz and will broadly apply across their portfolio passenger car models with significant volumes ramping up in 2027."

MBG.DE WATCH

Cliff Pimble

Guidance is confidently optimistic, with record revenue and operating income expected for 2026 despite memory cost headwinds; the company is guiding to continued strong growth across its diversified portfolio.

"We anticipate 2026 to be another year of strong top and bottom line growth... revenue to increase approximately 9% to $7.9 billion. And we expect operating income to exceed $2 billion for the first time."

GRMN WATCH

HIGH

Feed — Buzzberg