Garmin Q3 revenue $1.19B (+7% YoY); GAAP EPS $1.34, down 18% YoY; operating income -11%

GARMIN LTD

2021-Q3 EPS reported $4.13 revenue$3,591,206,000

Revenue $1.19B, +7% YoY; GAAP EPS $1.34 (-18% YoY), pro forma EPS $1.41 (-11%).
Segment: Marine +25%, Aviation +19%, Auto +7%, Fitness +4%, Outdoor -3%.
Gross margin 58.4% (down from 60.2%), operating margin 23.7% (down from 28.6%).
Operating income $283M, -11% YoY despite revenue growth.
Named Manufacturer of Year by NMEA for 7th year; ranked #1 avionics support for 18th year.

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