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Garmin forecasts 2025 results above estimates on strong outdoor wearables demand
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Garmin forecasts 2025 results above estimates on strong outdoor wearables demand
Feb 19, 2025 5:32 AM

Feb 19 (Reuters) - Swiss navigation device maker Garmin

forecast full-year results above Wall Street estimates

on Wednesday, banking on continued momentum in its outdoor and

auto OEM segments.

Garmin makes wearables designed for a niche market of

professionals and specializes in GPS-enabled products for

defense and recreational needs, charging a premium for its

high-end, specialized products.

Its strong and specialized business advantage has helped it

fend off competition from smartphone makers like Apple and

Samsung, which have launched wearables in the high-end market -

that Garmin currently dominates - with the launch of the Apple

Watch Ultra and Galaxy Watch Ultra wearables, respectively.

For the full-year 2025, Garmin expects revenue of

approximately $6.80 billion, above analysts' estimate of $6.72

billion, according to data compiled by LSEG.

On a pro forma basis, it expects to report a full-year

adjusted profit of $7.80 per share, beating an estimate of $7.74

per share.

Garmin's outdoor segment, its largest by revenue, saw strong

demand for its adventure watches in the holiday-season quarter,

reporting quarterly revenues of $629.4 million, trouncing an

estimate of $585.6 million.

Revenue from its auto OEM segment jumped 30% to $165.8

million, led by increased shipments of domain controllers to

automakers such as BMW.

For the quarter ended December 31, Garmin reported revenues

of $1.82 billion, above analysts' estimate of $1.7 billion,

according to data compiled by LSEG.

On a pro forma basis, its profit was $2.41 per share, while

analysts expected a profit of $2.03 per share.

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