Garmin falls after Q1 earnings disappoint

Garmin

30/04/2025 13:46

** Shares of navigation device maker Garmin GRMN.N down 7.9% premarket to $188 after qtrly profit disappoints

** Switzerland-based firm posted Q1 adj EPS of $1.61, below analysts' expectations of $1.67, while rev in qtr grew 11% y/y to $1.54 bln, roughly inline with consensus, per LSEG data

** Co, which makes wearables designed for a niche market of professionals and specializes in GPS-enabled products for defense and recreational needs, reported slowest rev growth in the last seven qtrs

**  'While recent developments in global trade have created an atmosphere of uncertainty for many companies, we remain optimistic because of the resilience and flexibility our vertically integrated and highly diversified business model offers," CEO Cliff Pemble said in the statement

** For 2025, co nudged 2025 rev guidance up to $6.85 bln from $6.8 bln and maintained EPS forecast of $7.80

** Of 10 analysts covering GRMN, recommendation breakdown is 3 "strong buy" or "buy", 3 "hold" and 4 "sell" ratings and median PT is $192.28 - LSEG

** Through Tues close, stock down 1% YTD vs 13% decline in S&P 500 Consumer Discretionary sector .SPLRCD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))