Garmin Q2 Earnings Beat Estimates Amid Revenue Growth

Garmin Ltd. reported strong Q2 results, with revenue rising 11% to $2.02B, beating estimates. Adjusted EPS of $2.81 exceeded FactSet's forecast by 51 cents. The company's fitness operating income also outpaced expectations with a 40% increase

Garmin Ltd. (GRMN) posted record second quarter 2026 results, with revenue climbing 11% year over year to $2.02 billion, topping Wall Street's roughly $1.93 billion estimate. Pro forma earnings per share came in at $2.81, beating the FactSet consensus of $2.30 by 51 cents.

The beat was broad based. Fitness led, with revenue up 25% to $757 million as advanced-wearable demand pushed segment operating income to $277 million, a 40% jump from a year earlier. Marine grew 14% to $341 million and Aviation rose 8% to $269 million, while Outdoor slipped 2% to $483 million and Auto OEM edged up 1% to $172 million, swinging to a small operating profit versus a year-ago loss.

Buoyed by the strong first half, Garmin raised full-year 2026 guidance to approximately $8.05 billion in revenue, above FactSet's prior $8.01 billion estimate, and to $10.00 in pro forma EPS, up from its earlier $9.35 outlook.

Shares rallied roughly 4.6% on the report. Some analysts flagged Garmin's valuation after the run-up, questioning whether its price relative to earnings leaves room for further upside (Is Garmin Ltd. (GRMN) Overvalued Despite Strong Q2 Earnings? ). Investors will watch whether fitness momentum, reinforced by Garmin's pending TrainingPeaks and TrainHeroic acquisitions, can offset continued softness in the more mature Outdoor category.

Garmin Q2 Earnings Beat Estimates Amid Revenue Growth

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