Garmin has forecast upbeat annual revenue and profit, surpassing Wall Street estimates on Wednesday. This projection is driven by strong consumer demand for high-end wearables and advanced fitness products. The company's diverse market presence, spanning wellness devices, marine systems, and private aviation, continues to show growth despite fluctuating consumer spending.
Garmin's strategic sales channels and in-house manufacturing capabilities have enabled the company to adapt to changing market conditions while sustaining profitability. The fitness segment, in particular, saw a significant 42% surge in revenue, reaching approximately $765.8 million in the fourth quarter. This growth was propelled by popular new releases, including the Venu 4 and Bounce 2 smartwatches.
For the full year 2026, Garmin anticipates total revenue of $7.9 billion, exceeding the analyst consensus of $7.63 billion. Adjusted earnings are projected at $9.35 per share, also ahead of the $8.70 per share expectation.
In the fourth quarter, Garmin reported a 17% increase in total revenue, reaching $2.12 billion. This figure surpassed the average analyst estimate of $2.02 billion. The company's adjusted profit for the quarter was $2.79 per share, also exceeding the projected $2.40 per share.