Garmin falls on revenue decrease in its Outdoor unit
29/10/2025 15:18
** Shares of navigation technology firm Garmin GRMN.BN fall 11.8% to $218.78 premarket
** Co reports a 5% decrease in Q3 Outdoor segment revenue, and 2% decrease in the Auto Original Equipment Manufacturing segment
** GRMN also reports 15% increase in Q3 operating expenses to $590 mln
** GRMN reports Q3 net sales of $1.78 bln, topping analysts' average expectation of $1.76 bln - LSEG-compiled data
** Posts Q3 pro forma EPS of $1.99, beating estimates of $1.96
** Raises FY2025 pro forma EPS outlook to $8.15 from previous outlook of $8
** Up to last close, stock has gained 20.3% this year
(Reporting by Arnav Mishra in Bengaluru)
((Arnav.Mishra@thomsonreuters.com;))