secwatch.observer — SEC 8-K summary
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Issuer:     GARMIN LTD (GRMN)
CIK:        0001121788
Form:       8-K
Filed at:   2024-02-21T23:59:59+00:00
Accession:  0000950170-24-017560
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Garmin reports record FY revenue $5.23B (+8% YoY); Q4 EPS $2.82
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- Q4 revenue $1.48B (+13% YoY); GAAP EPS $2.82, pro forma EPS $1.72 (+27%).
- FY 2023 record revenue $5.23B (+8%); GAAP EPS $6.71, pro forma EPS $5.59 (+9%).
- Q4 operating income $340M (+27%); gross margin 58.3% vs 57.0% prior year.
- Auto OEM Q4 revenue +54%, Fitness +22%; Aviation, Marine, Auto OEM each posted FY record revenue.
- Company proposes dividend increase and announces share repurchase program (amounts undisclosed).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1121788/000095017024017560/0000950170-24-017560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1121788/000095017024017560/grmn-20240221.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-017560

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