Garmin Raises Full Year Guidance - Update

(RTTNews) - (Adds Outlook)

Garmin Ltd. (GRMN) said the company now anticipates fiscal 2024 revenue of approximately $6.12 billion and pro forma EPS of $6.85. In July, the company projected revenue of approximately $5.95 billion and pro forma EPS of $6.00.

Q3 Results:

The company's bottom line came in at $399.11 million, or $2.07 per share. This compares with $257.24 million, or $1.34 per share, in last year's third quarter. • Pro forma EPS was $1.99, up 41% over the prior year quarter. Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 24.1% to $1.59 billion from $1.28 billion last year. Analysts on average had estimated $1.44 billion in revenue.

Shares of Garmin are up 13% in pre-market trade on Wednesday.

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