Garmin Ltd (NYSE:GRMN) stock slid on Wednesday after the company reported its fiscal first-quarter 2026 results.
The company reported quarterly revenue growth of 14% year-on-year to $1.75 billion, beating the analyst consensus estimate of $1.72 billion.
The GPS navigation and wearable technology company’s adjusted EPS of $2.08 topped the analyst consensus estimate of $1.82.
Segment Performance
- Revenue from Fitness increased by 42% Y/Y to $546.82 million, driven by growth across all product categories, led by strong demand for advanced wearables.
- Outdoor revenue declined 5% Y/Y at $417.53 million, primarily due to comparisons with strong prior-year product launch cycles.
- Aviation revenue rose 18% Y/Y at $263.84 million, driven by the OEM and aftermarket product categories.
- Marine revenue increased …