Garmin stock trades above Xetra close after higher 2026 outlook

Published on 11/09/2026 at 17:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Garmin stock follows record third-quarter results and a higher 2026 outlook. Core-business demand remains strong, while memory costs are a margin risk.

Growth Broadens, Risks Remain

Garmin raised its full-year 2026 revenue and pro forma earnings outlook after record third-quarter results.
Fitness, outdoor and marine businesses delivered double-digit quarterly growth, while Auto OEM sales declined.
Higher memory costs remain a margin risk as Garmin enters the holiday selling season.

Garmin Ltd., CH0114405324, Illustration mit AI erstellt.

Garmin reported record third-quarter operating results on October 28 and raised its full-year 2026 outlook. The Garmin newsroom said the quarter ended September 26 with consolidated revenue of 1.99 billion US dollars, up 12 percent year over year, while operating income rose 34 percent to 612 million US dollars.

Garmin stock traded at 260.30 euros on Lang & Schwarz at 17:14 CET on Monday, November 9, 2026, 2.56 percent above the Xetra close of Friday, November 6. The latest quote was also 2.22 percent above the 254.65 euros cited in the company's latest relevant report on November 9 at 12:39 CET.

Record Quarter Lifts Guidance

Garmin now expects 2026 revenue of approximately 8.15 billion US dollars and pro forma diluted earnings per share of 10.80 US dollars. The outlook is based on a 61.0 percent gross margin, a 29.0 percent operating margin and a 16.5 percent full-year tax rate, according to the company's October 28 8-K filing.

Growth And Margin Watch

Fitness revenue increased 16 percent to 694.3 million US dollars, outdoor revenue gained 20 percent to 597.3 million US dollars and marine revenue rose 16 percent to 309.9 million US dollars. Aviation revenue advanced 5 percent to 252.7 million US dollars.

Auto OEM remained the weak spot: revenue fell 20 percent to 131.9 million US dollars and the segment recorded an operating loss of 11.9 million US dollars. Garmin also said the third-quarter gross margin benefited from product mix, lower product costs and approximately 33 million US dollars in previously paid tariff refunds. Higher memory costs are included in the full-year margin outlook, making cost control a key investor focus.