Garmin's Stellar Performance: A Glimpse into Q4 and FY 2023

Garmin By Gary Feb 28, 2024

Record annual revenue, dividend increase, share repurchase

$1.48B revenue, +13% YOY; Gross margin 58.3%; Operating income $340M

1. Six CES Innovation Awards; notable products: Venu® 3, MARQ® Golfer-Carbon.

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Descent™ G1 Solar-Ocean Edition; Eve Air Mobility partnership; Marine Power Innovation award.

No. 1 in Avionics Support for 20 years; No. 2 in Forbes’ Best Large Employers.

$5.23B revenue, +8% YOY; Growth in Aviation, Marine, Auto OEM; GAAP EPS $6.71, Pro forma EPS $5.59.

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