Swiss navigation device maker Garmin has projected full-year 2025 results above Wall Street estimates, driven by continued strength in its outdoor and auto OEM segments.
The company, known for its premium GPS-enabled products catering to defense, recreational, and professional markets, has successfully fended off competition from smartphone giants Apple and Samsung, which have entered the high-end wearables space with the Apple Watch Ultra and Galaxy Watch Ultra.
Strong Financial Performance
- Garmin expects 2025 revenue of $6.80 billion, surpassing analysts’ estimates of $6.72 billion (LSEG data).
- Full-year adjusted profit is forecasted at $7.80 per share, beating estimates of $7.74 per share.
- For Q4 2024, revenue reached $1.82 billion, exceeding the expected $1.7 billion.
- Quarterly profit came in at $2.41 per share, well above the forecasted $2.03 per share.
Segment Performance
- Outdoor segment: Garmin’s largest division recorded revenue of $629.4 million, significantly outperforming estimates of $585.6 million, fueled by strong holiday-season demand for adventure watches.
- Auto OEM segment: Revenue surged 30% to $165.8 million, driven by rising shipments of domain controllers to automakers like BMW.
As Garmin continues to expand its product portfolio and refine its market positioning, it is also implementing new governance measures while transitioning to a traditional for-profit structure.
