Here's What Key Metrics Tell Us About Garmin (GRMN) Q3 Earnings

By Zacks Equity Research | October 29, 2025, 9:30 AM

For the quarter ended September 2025, Garmin (GRMN) reported revenue of $1.77 billion, up 11.7% over the same period last year. EPS came in at $1.99, compared to $1.99 in the year-ago quarter.

The reported revenue represents a surprise of -1.05% over the Zacks Consensus Estimate of $1.79 billion. With the consensus EPS estimate being $1.98, the EPS surprise was +0.51%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Garmin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Net Sales- Fitness: $601.01 million versus the three-analyst average estimate of $593.93 million. The reported number represents a year-over-year change of +29.6%.
  • Net Sales- Outdoor: $497.6 million versus the three-analyst average estimate of $565.76 million. The reported number represents a year-over-year change of -5.5%.
  • Net Sales- Auto OEM: $164.84 million compared to the $171.22 million average estimate based on three analysts. The reported number represents a change of -2.3% year over year.
  • Net Sales- Marine: $267.01 million versus $239.52 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.1% change.
  • Net Sales- Aviation: $240.45 million versus the three-analyst average estimate of $219.19 million. The reported number represents a year-over-year change of +17.5%.
  • Operating income (loss)- Fitness: $193.6 million versus the three-analyst average estimate of $165.69 million.
  • Operating income (loss)- Outdoor: $169.73 million compared to the $202.47 million average estimate based on three analysts.
  • Operating income (loss)- Aviation: $60.77 million versus $49.93 million estimated by three analysts on average.
  • Operating income (loss)- Marine: $49.4 million versus the three-analyst average estimate of $46.17 million.
  • Gross profit- Auto OEM: $24.94 million compared to the $34.25 million average estimate based on three analysts.
  • Gross profit- Fitness: $362.85 million versus the three-analyst average estimate of $352.82 million.
  • Gross profit- Outdoor: $329.75 million versus the three-analyst average estimate of $366.21 million.

View all Key Company Metrics for Garmin here>>>

Shares of Garmin have returned +0.8% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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