Garmin posts $2.02 billion revenue following 11% growth

• Garmin (NYSE:GRMN) reported Q2 2026 revenue of $2.02 billion, up 11% year over year, with Fitness leading growth.
• Operating income reached a record $616 million, up 30%, while pro forma EPS increased 29% to $2.81.
• Garmin raised its full-year 2026 outlook to approximately $8.05 billion in revenue and pro forma EPS of $10.00.

Garmin (NYSE:GRMN) reported second quarter 2026 revenue of $2.02 billion, up 11% year over year, supported by growth across Fitness, Marine and Aviation segments.

Fitness revenue increased 25%, while Marine and Aviation delivered double-digit growth, helping gross margin rise to 62.4% and operating margin reach 30.4%.

Garmin reported record operating income of $616 million, up 30%, with GAAP diluted EPS of $2.80 and pro forma EPS of $2.81, supported by product mix improvements and approximately $21 million in tariff refunds.

Following the announcement, Garmin's share price was unchanged at $263.50.

Garmin generated $404 million in operating cash flow and $276 million in free cash flow during the quarter, while ending the period with approximately $4.4 billion in cash and marketable securities and returning $245 million through dividends and share repurchases.

Looking ahead, Garmin raised its full-year 2026 guidance to approximately $8.05 billion in revenue and pro forma EPS of $10, while completing acquisitions of TrainingPeaks and TrainHeroic and confirming its $4.20 annual dividend.