Wall Street analysts expect Garmin (GRMN) to post quarterly earnings of $2.39 per share in its upcoming report, which indicates a year-over-year decline of 0.8%. Revenues are expected to be $2.01 billion, up 10.4% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Garmin metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Net Sales- Marine' should come in at $297.28 million. The estimate indicates a year-over-year change of +18.3%.
The combined assessment of analysts suggests that 'Net Sales- Aviation' will likely reach $254.95 million. The estimate indicates a year-over-year change of +7.6%.
Analysts predict that the 'Net Sales- Fitness' will reach $702.38 million. The estimate suggests a change of +30.2% year over year.
Analysts forecast 'Net Sales- Outdoor' to reach $601.92 million. The estimate suggests a change of -4.4% year over year.
The consensus estimate for 'Net Sales- Auto OEM' stands at $156.13 million. The estimate indicates a change of -5.8% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Operating income (loss)- Outdoor' of $218.16 million. Compared to the current estimate, the company reported $251.32 million in the same quarter of the previous year.
The average prediction of analysts places 'Operating income (loss)- Fitness' at $199.75 million. The estimate compares to the year-ago value of $159.16 million.
The consensus among analysts is that 'Operating income (loss)- Marine' will reach $60.74 million. Compared to the current estimate, the company reported $50.59 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Gross profit- Fitness' should arrive at $398.13 million. The estimate is in contrast to the year-ago figure of $308.63 million.
Analysts' assessment points toward 'Gross profit- Marine' reaching $166.84 million. The estimate is in contrast to the year-ago figure of $144.66 million.
It is projected by analysts that the 'Gross profit- Aviation' will reach $190.64 million. Compared to the present estimate, the company reported $178.38 million in the same quarter last year.
Analysts expect 'Gross profit- Outdoor' to come in at $387.13 million. Compared to the present estimate, the company reported $420.76 million in the same quarter last year.
View all Key Company Metrics for Garmin here>>>
Over the past month, shares of Garmin have returned -2.3% versus the Zacks S&P 500 composite's -0.3% change. Currently, GRMN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Garmin Ltd. (GRMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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