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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Ivan Feinseth | Tigress Financial Partners | 15 (0%) |
| Joe Cardoso | JPMorgan | 14 (14%) |
| Erik Woodring | Morgan Stanley | 14 (14%) |
| Ben Bollin | Cleveland Research | 13 (8%) |
| Noah Zatzkin | KeyBanc Capital Markets | 11 (0%) |
| David MacGregor | Longbow Research | 8 (0%) |
| Joe Nolan | Longbow Research | 7 (0%) |
| George Wang | Barclays | 5 (0%) |
| Alyssa Shreves | Barclays | 4 (0%) |
| Ron Epstein | Bank of America | 4 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Tigress Financial Partners | 1 | 15 (0%) |
| Longbow Research | 2 | 15 (0%) |
| Morgan Stanley | 1 | 14 (14%) |
| JPMorgan |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.82B | +22.9% | $2.25 | -20.2% | 59.3% | 28.3% | 23.9% | $399M |
| FY2025 Q1 | $1.54B | +11.1% | $1.72 | +20.3% | 57.6% | 21.7% | 21.7% | $381M |
| FY2025 Q2 | $1.81B | +20.4% | $2.07 | +32.7% | 58.8% | 26.0% | 22.1% | $127M |
| FY2025 Q3 | $1.77B | +11.7% | $2.08 | +0.5% | 59.1% | 25.8% | 22.7% | $425M |
| FY2025 Q4 | $2.12B | +16.6% | $2.73 | +21.3% | 59.2% | 28.9% | 24.9% | $430M |
| FY2026 Q1 | $1.75B | +14.2% | $2.09 | +21.5% | 59.4% | 24.6% | 23.1% | $469M |
| FY2026 Q2 | $2.02B | +11.4% | $2.80 | +35.3% | 62.4% | 30.4% | 26.8% | $210M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| 1 |
| 14 (14%) |
| Cleveland Research | 1 | 13 (8%) |
| Barclays | 3 | 12 (0%) |
| KeyBanc Capital Markets | 1 | 11 (0%) |
| Bank of America | 3 | 10 (0%) |
Revenue grew 14% to $1.75 billion with pro forma EPS of $2.08, up 29%, as Fitness wearables drove another record Q1 with 42% growth. Aviation accelerated to 18% growth across OEM and aftermarket, and Marine grew 11% with new product success. Operating income surged 30% to $432 million, and management maintained FY2026 guidance per its typical Q1 practice while tariff and component cost headwinds continued building.
Demand | Revenue Growth | Innovation & R&D | Competitive Dynamics | Product Launch | Margin | Trade Tariffs | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 1 | 2 | 4 | 2 | 5 | 1 | 1 |
| 2025Q1 | 7 | 2 | 3 | 1 | 3 | 2 | 6 | |
| 2025Q2 | 5 | 2 | 5 | 1 | 1 | 1 | 1 | |
| 2025Q3 | 8 | 3 | 1 | 3 | 3 | 2 | 2 | 1 |
| 2025Q4 | 6 | 6 | 5 | 3 | 3 | 1 | 1 | |
| 2026Q1 | 8 | 3 | 4 | 3 | 3 | 1 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 7 | 5 | 8 | 6 | 8 |
| Revenue Growth | 1 | 2 | 2 | 3 | 6 | 3 |
| Innovation & R&D | 2 | 3 | 5 | 1 | 5 | |
| Competitive Dynamics | 4 | 1 | 1 | 3 | 3 | 4 |
| Product Launch | 2 | 3 | 1 | 3 | 3 | 3 |
| Margin | 5 | 2 | 1 | 2 | 3 | |
| Trade Tariffs | 1 | 6 | 2 | 1 | 1 | |
| Cost Pressure | 1 | 1 | 1 | 1 | 4 |
What GRMN and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we did have an acquisition of MYLAPS that anniversary this year”
Garmin references its MYLAPS acquisition anniversarying, contributing to operating-expense growth as it annualizes.
“a new Connect IQ app that allows customers to read, reply and react to WhatsApp messages right from their wrist.”
Garmin added on-wrist WhatsApp messaging via a Connect IQ app, integrating Meta's messaging platform into its wearables.
“select wearables can now integrate with the highly acclaimed Natural Cycles birth control and Cycle Tracking app”
Garmin integrated the Natural Cycles birth-control and cycle-tracking app into select wearables, a partner integration expanding women's-health features.
“we expect auto OEM revenue to decrease in 2026 as the BMW program has reached peak volumes”
Garmin's BMW auto-OEM program has peaked and is rolling down, a headwind read-through for that automaker relationship as it transitions to the Mercedes program.
“our next large-scale program with Mercedes-Benz, which we anticipate will drive significant growth starting in 2027 and beyond.”
Garmin frames a large upcoming Mercedes-Benz infotainment program as a significant auto-OEM growth driver from 2027, implying a major automaker platform win.
“the Hondajet Elite II was certified by the FAA, becoming the first twin turbine business jet with Garmin Emergency Autoland technology.”
Honda Aircraft's HondaJet Elite II received FAA certification as the first twin-turbine jet with Garmin's Emergency Autoland, an OEM adoption win for Garmin.
“Daher unveiled their new TBM 980 single-engine turboprop aircraft featuring our G3000 PRIME avionics suite.”
Aircraft maker Daher launched a new turboprop built around Garmin's G3000 PRIME avionics, a positive OEM design win for Garmin aviation.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
GRMN Garmin | 8 | +14.2% | |
| APH Amphenol | 9 | +58.4% | |
| COHR Coherent, Inc. | 9 | +20.6% | |
| FLEX Flex Ltd. | 9 | +16.9% | |
| FTV Fortive | 5 | -27.5% | |
| GLW Corning Inc. | 9 | +20.1% | |
| JBL Jabil | 9 | +23.1% | |
| KEYS Keysight Technologies | 9 | +23.3% | |
| SNDK Sandisk Corporation | 9 | +251.0% | |
| TDY Teledyne Technologies | 8 | +7.6% | |
| TEL TE Connectivity | 8 | +14.5% | |
| TRMB Trimble Inc. | 9 | +11.8% |