(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
Garmin Anticipates Strong 2025 Results Driven by Outdoor Wearables Demand
(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.
(Reporting by Rishi Kant in Bengaluru; Editing by Pooja Desai)
