Garmin (GRMN) official guidance

We expect full-year 2026 free cash flow to be at approximately $1.4 billion, with capital expenditures of approximately $550 million.

For 2026, we expect free cash flow to be approximately $1.4 billion, approximately $400 million in capital expenditures.

2026 pro forma effective tax rate is expected to be 16%, on a 40 basis point decrease compared to 2025.

We expect our full-year pro forma EPS to be $9.35 based upon gross margin of 58.5%, operating margin of 25.5% and pro forma effective tax rate of 16.0%.

We now anticipate revenue of approximately $8.15 billion and pro forma EPS of $10.80 based on gross margin of 61.0%, operating margin of 29.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We now expect 2026 revenue of approximately $8.05 billion, and pro forma EPS of $10 per share.

We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We are maintaining our fiscal year 2026 guidance of approximately $7.9 billion revenue and pro forma EPS of $9.35 (see attached discussion on Forward-looking Financial Measures).

This results in expected pro forma earnings per share, approximately $9.35, 9% increase over the 2025 pro forma earnings per share.

We expect our full-year pro forma EPS to be $9.35 based upon gross margin of 58.5%, operating margin of 25.5% and pro forma effective tax rate of 16.0%.

We expect full-year 2026 free cash flow to be at approximately $1.4 billion, with capital expenditures of approximately $550 million.

For 2026, we expect free cash flow to be approximately $1.4 billion, approximately $400 million in capital expenditures.

We now anticipate revenue of approximately $8.15 billion and pro forma EPS of $10.80 based on gross margin of 61.0%, operating margin of 29.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

As a result of year-to-date performance, we have increased our gross margin estimate to approximately 59.7%, 120 basis points higher than our previous guidance and is 100 basis points higher than the full-year 2025 gross margin.

We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We expect gross margin to be approximately 58.5%, a 20 basis point lower than our 2025 gross margin, due to higher product costs, partially offset by favorable segment mix.

We expect our full-year pro forma EPS to be $9.35 based upon gross margin of 58.5%, operating margin of 25.5% and pro forma effective tax rate of 16.0%.

We now anticipate revenue of approximately $8.15 billion and pro forma EPS of $10.80 based on gross margin of 61.0%, operating margin of 29.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We expect our operating margin to be approximately 27%, 150 basis points higher than our previous guidance.

We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We expect an operating margin of approximately 25.5%.

We expect our full-year pro forma EPS to be $9.35 based upon gross margin of 58.5%, operating margin of 25.5% and pro forma effective tax rate of 16.0%.

We now anticipate revenue of approximately $8.15 billion and pro forma EPS of $10.80 based on gross margin of 61.0%, operating margin of 29.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We now expect 2026 revenue of approximately $8.05 billion, and pro forma EPS of $10 per share.

We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).

We are maintaining our fiscal year 2026 guidance of approximately $7.9 billion revenue and pro forma EPS of $9.35 (see attached discussion on Forward-looking Financial Measures).

We estimate revenue of approximately $7.9 billion, increase of approximately 9% for 2025.

We expect full-year 2026 revenue of $7.9 billion, an increase of 9% over 2025.

We are very pleased with these results and continue to expect the Fitness segment will be the strongest contributor to 2026 consolidated growth.

We are pleased with the performance of Marine during the first half of the year and believe we are on track to achieve full-year growth that is consistent with that of the prior year.

Our Marine segment is off to a very good start, and we believe we are on track to achieve growth consistent with the prior year.

In 2026, we expect marine segment growth to be consistent with the prior year based on improving market conditions.

Looking forward, we expect to achieve stronger revenue performance in the back half of 2026 due to the timing of product launches, resulting in improved full-year growth when compared to 2025.

We also expect to achieve stronger performance in the back half of the year due to the timing of product launches, resulting in improved full-year growth when compared to 2025.

Looking forward, we expect full year growth in outdoor to accelerate in 2026 compared to 2025, driven by a significant number of new product introductions. We also expect stronger performance in the back half of the year due to the timing of product launches.

We expect to report an effective tax rate of 16.5%, compared to our previous guidance of 16%. Increase is due to income mix by jurisdiction.

We now anticipate revenue of approximately $8.05 billion and pro forma EPS of $10.00 based on gross margin of 59.7%, operating margin of 27.0% and a full year tax rate of 16.5% (see attached discussion on Forward-looking Financial Measures).