Form 10-Q · Quarterly report
Garmin 10-Q, filed Jul 29, 2026
- Filed
- CIK
- 0001121788
- Accession no.
- 0001193125-26-322114
Summary
Garmin reported second-quarter 2026 net sales rose 11% year over year to $2.022 billion, with net income increasing to $541.9 million from $400.8 million a year earlier and operating income up 30% to $615.5 million. Fitness sales led growth with a 25% increase, while outdoor sales declined 2%, and gross margin expanded 360 basis points helped by favorable product mix and about $21 million in refunds of previously paid tariffs.
Key points
- Garmin's second-quarter 2026 net sales increased 11% year over year to $2.022 billion, and total unit sales rose about 9%.
- Second-quarter net income was $541.9 million, compared with $400.8 million a year earlier, and operating income rose 30% to $615.5 million.
- Fitness revenue rose 25% to $756.8 million, marine rose 14%, aviation rose 8%, auto OEM rose 1%, and outdoor fell 2% to $482.7 million.
- Gross margin rose 360 basis points to 62% of net sales, aided by favorable product mix and about $21 million in tariff refunds, including $14 million in marine.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Results of Operations The following tables and discussion provide an analysis of our results of operations for the second quarter of 2026 compared to the second quarter of 2025 and the first half of 2026 compared to the first half of 2025. Comparison of 13-Weeks Ended June 27, 2026 and June 28, 2025 Net Sales Net Sales 13-Weeks Ended June 27, 2026 Year-over-Year Change 13-Weeks Ended June 28, 2025 Fitness $ 756,823 25 % $ 605,425 Percentage of Total Net Sales 37 % 33 % Outdoor 482,740 (2 %) 490,357 Percentage of Total Net Sales 24 % 27 % Aviation 268,749 8 % 249,366 Percentage of Total Net Sales 13 % 14 % Marine 341,369 14 % 299,262 Percentage of Total Net…
An excerpt of the text as filed with the SEC, cut for length.
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