Garmin Q2 revenue $1.24B (-6% YoY), GAAP EPS $1.33 (-19%); Outdoor +18% offsets Fitness -34%

GARMIN LTD

2022-Q2 EPS reported $2.43 revenue$2,413,496,000

Consolidated revenue $1.24B, down 6% YoY; GAAP diluted EPS $1.33, down 19%.
Fitness segment revenue $272M, down 34% YoY; Outdoor $382M, up 18%; Aviation $205M, up 13%.
Pro forma EPS $1.44 (-14%); gross margin 58.7% vs 58.8% last year.
Currency headwind ~$57M from USD strengthening vs major currencies.
Launched Forerunner 955 Solar, Edge 1040 Solar, dēzl headset; >25,000 flight deck deliveries.

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