Garmin Reports Q4 2024 EPS of $2.41, Revenue of $1.82B, $435.73M Net Income, Raises 2025 Targets

Garmin Ltd. reported strong financial results for the fourth quarter of 2024, with adjusted earnings per share (EPS) of $2.41, surpassing the $2.03 estimate. The company's revenue reached $1.82 billion, exceeding expectations of $1.70 billion. Garmin's net income for the quarter was $435.73 million. The company achieved record full-year revenue across all five segments, with notable growth in its Fitness segment, which increased by 31%, and Outdoor segment, which grew by 29%. Following these results, Garmin announced a 20% increase in its dividend and raised its targets for 2025.