secwatch.observer — SEC 8-K summary
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Issuer:     GARMIN LTD (GRMN)
CIK:        0001121788
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0000950170-23-016875
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Garmin Q1 revenue $1.15B, down 2%; GAAP EPS $1.05; Outdoor segment down 27% YoY
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- Revenue $1.15B, down 2% YoY; GAAP EPS $1.05, pro forma EPS $1.02.
- Gross margin improved to 56.9% from 56.5%; operating margin declined to 17.2% from 19.5%.
- Outdoor segment revenue $329M, down 27% YoY; Fitness +11%, Aviation +22%, Marine +10%, Auto OEM +11%.
- Launched Forerunner 265/965 with AMOLED display; fēnix 7 selected for Polaris Dawn space mission.
- Named "Best of the Best" supplier by Embraer; also won Systems and Services supplier awards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1121788/000095017023016875/0000950170-23-016875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1121788/000095017023016875/grmn-20230503.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-016875

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