Earnings Preview: What to Expect From Garmin's Report

Schaffhausen, Switzerland-based Garmin Ltd. (GRMN) designs, develops, manufactures, markets, and distributes a range of wireless devices. Valued at $46.3 billion by market cap, the company designs, develops, manufactures, and markets hand-held, portable, and fixed mount GPS-enabled products serving automotive, aviation, marine, outdoor, and fitness markets. The leading provider of navigation and communication devices is expected to announce its fiscal second-quarter earnings for 2026 before the market opens on Wednesday, Jul. 29.

Ahead of the event, analysts expect GRMN to report a profit of $2.27 per share on a diluted basis, up 4.6% from $2.17 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the full year, analysts expect GRMN to report EPS of $9.53, up 11.3% from $8.56 in fiscal 2025. Its EPS is expected to rise 5.6% year over year to $10.06 in fiscal 2027. 

GRMN stock has underperformed the S&P 500 Index’s ($SPX) 20% gains over the past 52 weeks, with shares up 14.2% during this period. Similarly, it notably underperformed the State Street Technology Select Sector SPDR ETF’s (XLK) 42.9% gains over the same time frame.

On Apr. 29, GRMN shares closed up more than 2% after reporting its Q1 results. Its adjusted EPS of $2.08 surpassed Wall Street expectations of $1.84. The company’s revenue was $1.8 billion, exceeding Wall Street forecasts of $1.7 billion. GRMN expects full-year adjusted EPS to be $9.35, and revenue is expected to be $7.9 billion.

Analysts’ consensus opinion on GRMN stock is cautious, with a “Hold” rating overall. Out of eight analysts covering the stock, two advise a “Strong Buy” rating, five give a “Hold,” and one recommends a “Moderate Sell.” GRMN’s average analyst price target is $259, indicating a potential upside of 5.6% from the current levels.