Garmin Quarterly Income Statement
NYSE: GRMNIndustrialsIndustrial Machinery/ComponentsUSD
At close: Oct 9, 4:01 PM ET · Delayed 15 min
Garmin revenue and earnings
In the quarter ended Mar 28, 2026, Garmin generated $1.75 billion in revenue, up 14.2% from the same quarter a year earlier. Net income was $405.1 million (+21.7% year over year), for a net margin of 23.1% versus a median of 22.7% in the prior 5 quarters. Gross margin was 59.4% (up from 57.6%) and operating margin 24.6%.
Diluted earnings per share came in at $2.09, up from $1.72.
Summary generated from market data by MetaCap's automated system. Methodology
Garmin income statement (quarterly)
| Quarter (USD) | Q1 20262026-03-28 | Q4 20252025-12-27 | Q3 20252025-09-27 | Q2 20252025-06-28 | Q1 20252025-03-29 | Q4 20242024-12-28 | Q3 20242024-09-28 | Q2 20242024-06-29 | Q1 20242024-03-30 | Q4 20232023-12-30 | Q3 20232023-09-30 | Q2 20232023-07-01 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.75B | 2.12B | 1.77B | 1.81B | 1.54B | 1.82B | 1.59B | 1.51B | 1.38B | 1.48B | 1.28B | 1.32B |
| Revenue growth (YoY) | +14.23% | +16.59% | +11.66% | +20.44% | +11.11% | +22.94% | +24.15% | +14.07% | +20.41% | +13.48% | +12.02% | +6.44% |
| Cost of Revenue | 711.20M | 866.70M | 724.41M | 747.55M | 650.55M | 742.64M | 634.42M | 643.78M | 579.51M | 618.35M | 548.96M | 561.35M |
| Gross Profit | 1.04B | 1.26B | 1.05B | 1.07B | 884.54M | 1.08B | 951.60M | 862.89M | 802.14M | 864.15M | 728.57M | 759.44M |
| Operating Expenses | 610.62M | 644.11M | 589.68M | 594.72M | 551.72M | 563.84M | 514.12M | 520.86M | 503.73M | 523.70M | 458.20M | 475.09M |
| Research & Development | 295.82M | 294.98M | 286.46M | 276.66M | 268.12M | 258.75M | 249.16M | 243.15M | 242.53M | 237.25M | 221.57M | 224.39M |
| Selling, General & Admin | 314.81M | 349.12M | 303.22M | 318.05M | 283.60M | 305.09M | 264.96M | 277.71M | 261.19M | 286.45M | 236.63M | 250.69M |
| Operating Income | 431.67M | 614.15M | 456.80M | 472.30M | 332.82M | 516.08M | 437.48M | 342.03M | 298.41M | 340.45M | 270.37M | 284.36M |
| Other Income (Expense) | 40.86M | 21.23M | 53.02M | 7.96M | 56.25M | 57.00K | 48.77M | 23.95M | 28.63M | 42.58M | 9.20M | 31.62M |
| Pretax Income | 472.53M | 635.39M | 509.82M | 480.25M | 389.08M | 516.14M | 486.25M | 365.97M | 327.04M | 383.04M | 279.57M | 315.98M |
| Income Tax | 67.45M | 106.70M | 108.20M | 79.43M | 56.31M | 80.41M | 87.14M | 65.34M | 51.08M | 12.12M | 22.33M | 28.04M |
| Net Income | 405.08M | 528.68M | 401.62M | 400.82M | 332.77M | 435.73M | 399.11M | 300.63M | 275.96M | 542.13M | 257.24M | 287.94M |
| Net Income growth (YoY) | +21.73% | +21.33% | +0.63% | +33.33% | +20.59% | -19.63% | +55.15% | +4.41% | +36.39% | +84.85% | +22.00% | +11.66% |
| EPS (Basic) | 2.10 | 2.75 | 2.09 | 2.08 | 1.73 | 2.26 | 2.08 | 1.57 | 1.44 | 2.83 | 1.34 | 1.51 |
| EPS (Diluted) | 2.09 | 2.72 | 2.08 | 2.07 | 1.72 | 2.24 | 2.07 | 1.56 | 1.43 | 2.82 | 1.34 | 1.50 |
| Shares Outstanding (Basic) | 192.67M | — | 192.46M | 192.52M | 192.54M | — | 192.20M | 192.07M | 191.89M | — | 191.44M | 191.29M |
| Shares Outstanding (Diluted) | 193.56M | — | 193.53M | 193.42M | 193.72M | — | 193.17M | 192.90M | 192.70M | — | 191.87M | 191.60M |
| EBITDA | 472.08M | 651.13M | 496.46M | 510.81M | 370.29M | 554.23M | 471.93M | 376.02M | 332.30M | 374.32M | 304.04M | 317.22M |
| Gross Margin | 59.44% | 59.21% | 59.09% | 58.80% | 57.62% | 59.25% | 60.00% | 57.27% | 58.06% | 58.29% | 57.03% | 57.50% |
| Operating Margin | 24.62% | 28.90% | 25.79% | 26.03% | 21.68% | 28.32% | 27.58% | 22.70% | 21.60% | 22.96% | 21.16% | 21.53% |
| Net Margin | 23.10% | 24.88% | 22.68% | 22.09% | 21.68% | 23.91% | 25.16% | 19.95% | 19.97% | 36.57% | 20.14% | 21.80% |
This table shows 12 quarterly periods of Garmin's income statement, from Q1 2026 back to Q2 2023, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow GRMN's reporting calendar. What is a income statement?