Garmin Q2 revenue up 6% to $1.32B; GAAP EPS $1.50, pro forma $1.45

GARMIN LTD

2023-Q2 EPS reported $2.56 revenue$2,468,219,000

Consolidated revenue $1.32B (+6% YoY); operating income $284M (-3% YoY).
Fitness segment $334.9M (+23%); Auto OEM $104.6M (+77%) on new wins.
GAAP EPS $1.50 (+13% YoY); pro forma EPS $1.45 (+1% YoY).
Gross margin 57.5% vs 58.7% prior year; operating margin 21.5% vs 23.6%.
Launched epix Pro series; Autoland/Autothrottle retrofit for King Air nearing certification.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GARMIN LTD reported second quarter ended July 1, 2023 results: revenue $1.32 billion, EPS $1.50.

Period: second quarter ended July 1, 2023
Revenue: $1.32 billion
EPS: $1.50
Result: reported results

Exact text from the filing

Newswire – Garmin ® Ltd. (NYSE: GRMN), today announced results for the second quarter ended July 1, 2023. Highlights for second quarter 2023 include: • Consolidated revenue of $1.32 billion, a 6% increase compared to the prior year quarter • Gross margin and operating margin were 57.5%, and 21.5% • Operating income was $284 million, a 3% decrease compared to the

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Source: SEC EDGAR

accession 0000950170-23-036763

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