Garmin Soars: 2025 Forecast Beats Expectations on Booming Wearables Demand

Garmin Ltd. (NYSE:GRMN) has surpassed Wall Street expectations with its Q4 2024 earnings and 2025 forecast, driven by strong demand for outdoor wearables and adventure watches. The company reported Q4 revenue of $1.82 billion, a 23% year-over-year increase, beating analyst estimates of $1.70 billion. Garmin's outdoor segment, its largest by revenue, saw particularly robust growth.

 

For fiscal 2025, Garmin projects revenue of $6.80 billion, exceeding analyst expectations of $6.72 billion. The company also anticipates a pro forma EPS of $7.80, surpassing the consensus of $7.742. This optimistic outlook is supported by Garmin's strong performance across multiple segments, including fitness, outdoor, and auto OEM.

 

Investors responded positively to the news, with Garmin's stock surging 9.65% in premarket trading.

 

Sources: Nasdaq, Benzinga, IndexBox