Garmin posts record FY revenue $6.30B, up 20%; proposes 20% dividend increase

GARMIN LTD

2024-FY EPS reported $7.30 revenue$6,296,903,000

Q4 revenue $1.82B (+23% YoY); GAAP EPS $2.25; pro forma EPS $2.41 (+40%).
FY record revenue $6.30B (+20%); operating income $1.59B (+46%).
All segments posted record full-year revenue; Fitness +32%, Auto OEM +44%.
Proposes 20% dividend increase; payable date and record date not yet announced.
Gross margin expanded to 58.7% from 57.5%; operating margin 25.3% vs 20.9%.

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