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California State Teachers Retirement System raised its position in Garmin Ltd. (NYSE:GRMN – Free Report) by 23,029.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,413,980 shares of the scientific and technical instruments company’s stock after buying an additional 59,157,102 shares during the period. California State Teachers Retirement System owned 30.81% of Garmin worth $14,113,197,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Garmin during the fourth quarter worth $979,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Garmin by 121.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 107,929 shares of the scientific and technical instruments company’s stock valued at $25,041,000 after buying an additional 59,229 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Garmin in the second quarter valued at about $1,447,000. Commerzbank Aktiengesellschaft FI lifted its position in Garmin by 282.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 6,518 shares of the scientific and technical instruments company’s stock worth $1,322,000 after buying an additional 4,814 shares in the last quarter. Finally, Westerkirk Capital Inc. lifted its position in Garmin by 88.2% during the 4th quarter. Westerkirk Capital Inc. now owns 20,700 shares of the scientific and technical instruments company’s stock worth $4,199,000 after buying an additional 9,700 shares in the last quarter. 81.60% of the stock is owned by institutional investors.

Garmin Trading Down 0.5% Shares of NYSE:GRMN opened at $275.55 on Wednesday. Garmin Ltd. has a 1-year low of $186.67 and a 1-year high of $314.28. The stock has a market capitalization of $53.14 billion, a P/E ratio of 28.41, a P/E/G ratio of 3.10 and a beta of 0.85. The business has a 50-day moving average price of $274.35 and a two-hundred day moving average price of $253.71.

Garmin (NYSE:GRMN – Get Free Report) last issued its earnings results on Thursday, July 30th. The scientific and technical instruments company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.51. Garmin had a net margin of 24.47% and a return on equity of 20.95%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the firm earned $2.17 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Garmin Ltd. will post 10.08 EPS for the current year. Insider Buying and Selling at Garmin In other Garmin news, VP Joshua Maxfield sold 1,152 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $291.13, for a total value of $335,381.76. Following the transaction, the vice president directly owned 15,042 shares of the company’s stock, valued at approximately $4,379,177.46. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sean Biddlecombe sold 986 shares of Garmin stock in a transaction on Friday, July 31st. The stock was sold at an average price of $292.88, for a total transaction of $288,779.68. Following the sale, the director directly owned 6,021 shares of the company’s stock, valued at $1,763,430.48. This represents a 14.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,108 shares of company stock valued at $4,808,799. 14.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes Several research firms have weighed in on GRMN. KeyCorp restated a “sector weight” rating on shares of Garmin in a research report on Wednesday, September 2nd. UBS Group set a $370.00 target price on shares of Garmin in a research note on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Garmin in a research report on Friday. Tigress Financial reissued a “strong-buy” rating on shares of Garmin in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Garmin from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.17.

Read Our Latest Report on Garmin

Garmin Profile (Free Report)

Garmin Ltd. is a technology company best known for designing and manufacturing navigation, communication and information devices that leverage global positioning system (GPS) technology. The company serves a diverse set of markets including consumer fitness and wearables, automotive navigation, aviation avionics, marine electronics and outdoor handheld devices. Garmin’s products combine hardware, mapping and software services to deliver location-aware solutions for personal, recreational and professional uses.

Garmin’s product lineup includes wearable fitness and multisport watches (Forerunner, Fenix, Venu), cycling computers and accessories (Edge, Varia), handheld and handheld-mounted GPS devices for outdoor activities, automotive and portable navigation units, marine chartplotters and fishfinders, and certified avionics for fixed- and rotary-wing aircraft.

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For Immediate ReleaseChicago, IL – August 26, 2026 – Today, Zacks Equity Kla (KLAC - Free Report) , Teradyne (TER - Free Report) and Garmin (GRMN - Free Report)

Industry: Electronics - Miscellaneous

Link: https://www.zacks.com/commentary/2979708/3-electronics-stocks-set-to-benefit-from-a-prospering-industry

The Zacks Electronics – Miscellaneous Products industry players like Kla, Teradyne and Garmin are benefiting from higher spending on artificial intelligence (AI) infrastructure, data center and cloud computing. Rising spending by hyperscalers on AI compute is increasing demand for more advanced semiconductors, networking equipment, testing, process-control and precision electronic components. 

Advanced chip architectures, High-Bandwidth Memory (HBM) adoption, EUV, hybrid bonding and increasingly complex packaging are increasing process-control intensity and creating demand for technologies that improve yield, reliability and system performance. However, this industry is subject to fluctuations in semiconductor capital-spending cycles, macroeconomic conditions, inventory adjustments and changes in end-market demand. Supply-chain constraints, rising input costs and geopolitical trade restrictions are notable headwinds for industry participants.

Industry DescriptionThe Zacks Electronics – Miscellaneous Products industry includes a number of original equipment manufacturers of power products, drivetrains, green energy solutions, remote-control systems, GPS navigation, home automation systems, healthcare devices, industry/factory automation, robotics, semiconductor and optical applications and energy management solutions. The industry is evolving through digital transformation and the growing demand for silicon across multiple markets. 

The increasing cost of manufacturing bodes well for equipment suppliers, while the growing demand for silicon is positive for semiconductor companies. Apart from the United States, companies in this industry are based in Japan, Germany, the Netherlands and Switzerland. These companies either have manufacturing operations in China and Southeast Asia or generate significant revenues from these regions.

3 Trends Shaping the Future of the IndustrySolid Capital Spending Drives Prospects: Ongoing technology transition due to rapid deployment of AI is driving product complexities, which is raising the demand for solutions provided by industry participants. More complex designs, accelerating product cycles and high-value wafer volumes are growing the demand for advanced packaging. Increasing investment in expanding manufacturing capacity by semiconductor companies is a key catalyst in the long run. Since semiconductor companies are major customers of miscellaneous electronics product manufacturers, the trend bodes well for industry participants. In addition, rising spending on advanced nodes — 7 nm, 5 nm, 3 nm and 2 nm processes from logic and foundry customers — favors industry participants. Logic and foundry spending is anticipated to be healthy this year. 

Strong Demand for AI, Data Center and Cloud Computing Solutions: Industry participants are riding on strong AI infrastructure investments, increasing compute intensity, and the need for more advanced power, thermal, automation and testing solutions. Strong hyperscaler spending, rapid advanced packaging adoption and large-scale data center buildouts are key catalysts. The rapid growth of AI workloads is increasing process complexity, driving higher demand for process control, metrology, inspection, specialty materials, precision timing and semiconductor test equipment. Meaningful recovery in industrial automation and digital infrastructure markets bodes well for industry participants.

Demand for Integrated Solutions is Rising: The industry is increasingly moving toward integrated solutions that combine compute, power, cooling, automation and energy management. This shift from discrete subsystem deployments is creating opportunities for suppliers with broad technology portfolios and systems-level capabilities. 

Challenging Macroeconomic Conditions Acts as Headwind: Industry participants are suffering from challenging macroeconomic conditions globally, with enterprises in automotive, industrial and energy end-markets showing reluctance in committing to multi-year deals. Supply chains remain under pressure as companies work to secure capacity and critical components to support rapidly rising AI-driven demand, while extended lead times and infrastructure bottlenecks, particularly around power availability, are constraining the pace of data center deployment. Additionally, memory price volatility, tariff-related cost increases, and the growing concentration of demand among a small number of hyperscale and AI customers are major concerns for industry players.

Zacks Industry RankThe Zacks Electronics – Miscellaneous Products industry is housed within the broader Zacks Computer and Technology sector. The industry carries a Zacks Industry Rank #72, which places it in the top 29% of more than 246 Zacks industries.

The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, indicates bullish near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of the positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since Dec. 31, 2025, earnings estimates for the industry for the current year have moved north by 13.4%.

Given the bullish prospects, there are many stocks worth buying in the industry. But before we present those stocks, let us take a look at the industry’s recent stock-market performance and valuation picture.

Industry Beats S&P 500, Broader SectorThe Zacks Electronics – Miscellaneous Products industry has outperformed the S&P 500 and the broader Zacks Computer and Technology sector in the past year.

The industry has appreciated 57.8% during this period compared with the S&P 500 composite’s return of 20.8% and the broader sector’s appreciation of 28.6%.

Industry's Current ValuationOn the basis of the forward 12-month P/E, which is a commonly used multiple for valuing Electronics-Miscellaneous products companies, we see that the industry is currently trading at 28.27X compared with the S&P 500’s 20.37X and the sector’s forward-12-month P/E of 20.90X.

Over the last five years, the industry has traded as high as 44.84X and as low as 26.50X, with the median being 29.36X.

3 Stocks to Buy Right NowTeradyne: This Zacks Rank #1 (Strong Buy) company’s shares have appreciated 88.5% year to date (YTD). You can see the complete list of today’s Zacks #1 Rank stocks here.

Rising AI investment is increasing demand for CPUs, accelerators, networking chips, HBM, DDR and storage, driving demand for semiconductor test. Teradyne expects higher wafer-fab equipment spending to drive faster transistor and memory-bit production, supporting expansion of the automated test equipment (ATE) market. The company sees a path for the overall ATE TAM to reach or exceed $20 billion as WFE spending approaches $250 billion by the end of the decade.

Increasing chiplet counts and more complex multichip packages require greater testing intensity to ensure acceptable yields, creating a structural tailwind for Teradyne. The company is also positioned to gain share through merchant GPU programs, hyperscaler dual-sourcing and its strong position in HBM and DRAM testing.

The Zacks Consensus Estimate for Teradyne’s 2026 earnings has jumped 26.4% to $9.10 per share over the past 30 days.

Garmin: Another Zacks Rank #1 stock, Garmin’s Fitness business remains a major growth engine, with second-quarter revenues rising 25% on strong demand for advanced wearables. New products such as the Forerunner lineup and CIRQA Smart Band are broadening Garmin’s addressable market, while the TrainingPeaks and TrainHeroic acquisitions expand its services ecosystem and create a more integrated training experience for customers.

Garmin continues to benefit from new-product launches and resilient demand across aviation and marine. Aviation is supported by strong OEM backlogs and aftermarket demand, while the new AXIS integrated cockpit platform could broaden adoption by reducing installation cost and complexity. Marine growth is supported by products such as LiveScope 2, which strengthens Garmin’s position in premium sonar technology.

The Zacks Consensus Estimate for GRMN’s 2026 earnings has increased 4.3% over the past 30 days to $9.94 per share. Garmin shares have surged 43.5% YTD.

KLA: This Zacks Rank #2 (Buy) company is benefiting from accelerating investment in AI infrastructure, leading-edge foundry/logic, HBM and advanced packaging. More complex device architectures, higher-value wafers and tighter performance specifications are increasing the need for inspection and metrology. KLA expects advanced-packaging process-control systems revenues to reach roughly $1.1 billion in calendar 2026, up more than 70% year over year.

Rising investment across leading-edge logic, DRAM, HBM, NAND and new greenfield fabs should support continued equipment demand into 2027. Meanwhile, KLA Services is benefiting from a growing installed base and high tool utilization, with roughly 80% of service revenues contract-based. Higher equipment shipments should further expand the service opportunity.

KLAC shares have surged 49.4% YTD. The consensus mark for KLA’s fiscal 2027 earnings has increased 7.1% to $5.43 per share over the past 30 days.

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Garmin (GRMN +0.73%) makes many popular devices for runners, boaters, pilots, hunters, and bikers, and its stock is getting popular too. The maker of wearable smartwatches and wireless GPS devices announced another stellar quarter in July, sending shares soaring.

The stock is now up 53% this year, after jumping 23.7% in July, according to data provided by S&P Global Market Intelligence. Management raised guidance for the year after a strong second quarter. The company is firing on all cylinders, and the stock is even cheaper than it looks. Here's why.

Image source: Getty Images.

Fitness is in great shape After announcing record revenue that increased 11% year over year, Garmin boosted its full-year revenue and earnings guidance to imply 11% year-over-year revenue growth and almost 17% earnings per share (EPS) growth.

All five business segments are contributing to Garmin's success. The outdoor segment was the only one with slightly declining sales, but it provided more operating income than in Q1, thanks to higher gross and operating margins.

Fitness is the standout, though. Advanced wearables led the segment to 25% year-over-year sales growth. That growth rate is 32% for the first half of this year, following a 33% increase in 2025 over 2024. Investors who were worried about lost sales from the Apple Watch and other competitors can seemingly dismiss those fears.

Garmin has even entered a new category with its Cirqa Smart Band. This screen-free wearable provides comprehensive wellness and fitness insights without requiring a subscription, helping to expand its potential market.

Today's Change

(

0.73

%) $

2.27

Current Price

$

313.16

Garmin's secret weapon The future looks bright for Garmin's business. But investors might wonder if the pop in the stock price makes shares too expensive. There's good reason to think that's not the case, though. On the surface, shares look pricey. Garmin stock is trading at a price-to-earnings (P/E) of 31 based on the company's latest 2026 guidance. That seems expensive compared to its three-year average of about 25. But there's a better way to look at it.

Garmin ended Q2 with $4.4 billion in cash and equivalents. Importantly, it also has no debt. That's over 7% of its market cap, and investors should consider that. That effectively drops the forward P/E to under 29.

While still relatively high, it's also certainly possible that earnings exceed current guidance, bringing the valuation even lower. That cash will also bring value for shareholders in the future. Whether through growth investments, acquisitions, share buybacks, or raised dividends, that money should find its way back to the owners of Garmin stock. It may not be a good time to invest a lump sum in Garmin stock, but long-term investors can still expect solid returns.

Company reports record second quarter operating results and raises full year guidance

, /PRNewswire/ -- Garmin® Ltd. (NYSE: GRMN), today announced results for the second quarter ended June 27, 2026.

Highlights include:

Record consolidated revenue of approximately $2.02 billion, an 11% increase compared to the prior year quarter Gross and operating margins expanded to 62.4% and 30.4% respectively, compared to the prior year quarter Record operating income of $616 million, a 30% increase compared to the prior year quarter GAAP EPS of $2.80 and pro forma EPS(1) of $2.81, representing a 29% increase in pro forma EPS compared to the prior year quarter Recently completed the strategic acquisition of TrainingPeaks® and TrainHeroic®, leading training platforms for athletes and coaches Recently unveiled AXIS™, an all-new highly scalable family of flight displays Recently announced CIRQA™ Smart Band, our first screenless smart band, that includes a rich set of health and wellness features (In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

YoY

June 27,

June 28,

YoY

2026

2025

Change

2026

2025

Change

Net sales

$

2,022,092

$

1,814,564

11 %

$

3,775,582

$

3,349,663

13 %

      Fitness

756,823

605,425

25 %

1,303,646

990,147

32 %

      Outdoor

482,740

490,357

(2) %

900,270

928,853

(3) %

      Aviation

268,749

249,366

8 %

532,590

472,481

13 %

      Marine

341,369

299,262

14 %

696,385

618,699

13 %

      Auto OEM

172,411

170,154

1 %

342,691

339,483

1 %

Gross profit

1,262,022

1,067,012

18 %

2,304,310

1,951,557

18 %

Gross margin %

62.4

%

58.8

%

61.0

%

58.3

%

Operating Income

615,508

472,295

30 %

1,047,173

805,119

30 %

Operating income %

30.4

%

26.0

%

27.7

%

24.0

%

GAAP diluted EPS

$

2.80

$

2.07

35 %

$

4.89

$

3.79

29 %

Pro forma diluted EPS(1)

$

2.81

$

2.17

29 %

$

4.89

$

3.78

29 %

(1) See attached Non-GAAP Financial Information for discussion and reconciliation of non-GAAP financial measures, including pro forma diluted EPS

Executive Overview from Cliff Pemble, President and Chief Executive Officer:

"We delivered another quarter of outstanding financial results with double-digit revenue growth and robust margin expansion, which resulted in record revenue and operating income. Each business segment contributed to these impressive results. Our performance in the first half of 2026 was very strong giving us confidence to raise our full year 2026 consolidated revenue and EPS guidance." - Cliff Pemble, President and Chief Executive Officer of Garmin Ltd.

Fitness:

Revenue from the fitness segment increased 25% in the second quarter with growth across all product categories, led by strong demand for advanced wearables. Gross and operating margins were 64% and 37%, respectively, resulting in $277 million of operating income. During the quarter, we launched the Forerunner® 70 and Forerunner 170, easy-to-use GPS running smartwatches designed to help runners of all levels reach their goals. In addition, we celebrated global running day and global cycling day with the release of our running and cycling data reports, highlighting how athletes around the world are recording runs and rides. More recently, we announced the CIRQA Smart Band, a screenless wearable that offers rich wellness and fitness insights without requiring a subscription and further expands our addressable market for wellness devices.

Outdoor:

Revenue from the outdoor segment decreased 2% in the second quarter primarily due to the consumer auto and adventure watch product categories. Gross and operating margins were 69% and 34%, respectively, resulting in $164 million of operating income. We recently announced the Approach® Z10, a compact laser rangefinder that sends precise distances to compatible devices bringing a high-fidelity experience to game play, and we also released our Trends in Golf Data Report, highlighting that participation in the sport is up and players improving in nearly every shot category. 

Aviation:

Revenue from the aviation segment increased 8% in the second quarter with growth in both the OEM and aftermarket product categories. Gross and operating margins were 75% and 27%, respectively, resulting in $72 million of operating income. For the 11th consecutive year, we were named Best Supplier of the Year by Embraer, recognizing us for outstanding performance as a supplier of Electrical and Electronic Systems for their Phenom business jets. During the quarter, we launched the D2™ Mach 2 Pro, our first aviator smartwatch with inReach technology. We also recently announced AXIS, an all-new family of highly integrated and scalable cockpit display solutions for a broad range of certified and experimental aircraft models.

Marine:

Revenue from the marine segment increased 14% in the second quarter with broad-based growth across multiple categories. Gross and operating margins were 61% and 29%, respectively, resulting in $100 million of operating income. During the quarter, we launched the Garmin Signal™ VHF marine radios which offer color touchscreens and new features that enhance communication on the water. We recently announced the next generation LiveScope™ 2, delivering live sonar images with improved range and clarity. 

Auto OEM:

Revenue from the auto OEM segment increased 1% during the second quarter primarily due to domain controllers. Operating income improved to $3 million in the quarter, compared to an operating loss in the prior-year period, driven by improved gross profit and lower research and development expenses.

Additional Financial Information:

The consolidated gross margin expanded 360 basis points to 62.4%, compared to the prior year quarter with higher margins across all segments. The consolidated gross margin increase was primarily attributable to favorable product mix within certain segments and approximately $21 million in refunds of previously paid tariffs.

Total operating expenses in the second quarter were $647 million, a 9% increase over the prior year. Research and development and selling, general and administrative expenses increased 10% and 8%, respectively, driven primarily by personnel related costs.

The effective tax rate in the second quarter was 16.8%, compared to an effective tax rate of 16.5% in the prior year quarter. The increase in the effective tax rate is primarily due to income mix by jurisdiction.

In the second quarter of 2026, we generated operating cash flows of $404 million and free cash flow(1) of $276 million. We paid a quarterly dividend of $202 million and repurchased $43 million of the Company's shares within the quarter, leaving approximately $448 million remaining as of June 27, 2026 in the $500 million share repurchase program authorized through December 2028. We ended the quarter with cash and marketable securities of approximately $4.4 billion.

(1)

See attached Non-GAAP Financial Information for discussion and reconciliation of non-GAAP financial measures, including pro forma effective tax rate and free cash flow.

Fiscal Year 2026 Guidance:

Based on our performance during the first half of 2026 and our positive outlook for the remainder of the year, we are raising our full year 2026 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).

Dividend Recommendation:

At the 2026 annual shareholders' meeting, Garmin shareholders, in accordance with Swiss corporate law, approved a cash dividend in the total amount of $4.20 per share, payable in four equal installments on dates to be determined by the Board in its discretion. The first payment was made on June 26, 2026. The Board of Directors has established September 25, 2026, as the payment date for the next dividend installment of $1.05 per share with a record date of September 11, 2026. The Board currently anticipates the scheduling of the remaining quarterly dividend installments as follows:

Dividend Date

Record Date

$'s per share

December 24, 2026

December 11, 2026

$1.05

March 26, 2027

March 12, 2027

$1.05

Webcast Information/Forward-Looking Statements:

The information for Garmin Ltd.'s earnings call is as follows:

An archive of the live webcast will be available until July 28, 2027 on the Garmin website at www.garmin.com. To access the replay, click on the Investors link and click over to the News & Events page.

This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as "anticipates," "would," "may," "expects," "estimates," "plans," "intends," "projects," and other words or phrases with similar meanings. Any statements regarding the Company's expected fiscal 2026 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company's expected segment revenue growth rates, consolidated revenue, gross margins, operating margins, tariffs and other global trade related impacts, potential future acquisitions, share repurchase programs, currency movements, expenses, pricing, new product launches, market reach, statements relating to possible future dividends, and the Company's plans and objectives are forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in the Annual Report on Form 10-K for the year ended December 27, 2025 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118). A copy of Garmin's 2025 Form 10-K can be downloaded from https://investors.garmin.com/financials/sec-filings/default.aspx. All information provided in this release and in the attachments is as of June 27, 2026. We undertake no duty to update this information unless required by law.

This release and the attachments contain non-GAAP financial measures. A reconciliation to the nearest GAAP measure and a discussion of the Company's use of these measures are included in the attachments.

Garmin, the Garmin logo, the Garmin delta, Approach, Forerunner, TrainingPeaks, TrainHeroic, and inReach are trademarks of Garmin Ltd. or its subsidiaries and are registered in one or more countries, including the U.S. AXIS, LiveScope, D2, CIRQA, and Garmin Signal are trademarks of Garmin Ltd. or its subsidiaries.  All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Garmin Ltd. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

(In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

Net sales

$

2,022,092

$

1,814,564

$

3,775,582

$

3,349,663

Cost of goods sold

760,070

747,552

1,471,272

1,398,106

Gross profit

1,262,022

1,067,012

2,304,310

1,951,557

Research and development expense

303,940

276,663

599,758

544,783

Selling, general and administrative expenses

342,574

318,054

657,379

601,655

Total operating expense

646,514

594,717

1,257,137

1,146,438

Operating income

615,508

472,295

1,047,173

805,119

Other income (expense):

Interest income

38,173

31,724

74,147

62,231

Foreign currency (losses) gains

(2,492)

(23,512)

630

1,248

Other (expense) income

(128)

(256)

1,640

730

Total other income (expense)

35,553

7,956

76,417

64,209

Income before income taxes

651,061

480,251

1,123,590

869,328

Income tax provision

109,141

79,429

176,591

135,737

Net income

$

541,920

$

400,822

$

946,999

$

733,591

Net income per share:

Basic

$

2.81

$

2.08

$

4.91

$

3.81

Diluted

$

2.80

$

2.07

$

4.89

$

3.79

Weighted average common shares outstanding:

Basic

192,836

192,523

192,755

192,534

Diluted

193,471

193,416

193,515

193,557

Garmin Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

June 27,

2026

December 27,
2025

Assets

Current assets:

Cash and cash equivalents

$

2,334,235

$

2,278,646

Marketable securities

331,955

459,202

Accounts receivable, net

1,153,215

1,253,015

Inventories

1,966,061

1,772,257

Deferred costs

13,673

17,538

Prepaid expenses and other current assets

509,473

467,558

Total current assets

6,308,612

6,248,216

Property and equipment, net

1,454,228

1,375,348

Operating lease right-of-use assets

212,297

196,183

Noncurrent marketable securities

1,703,680

1,396,929

Deferred income tax assets

717,795

718,094

Noncurrent deferred costs

3,930

4,373

Goodwill

748,474

760,241

Other intangible assets, net

179,054

198,362

Other noncurrent assets

95,821

95,923

Total assets

$

11,423,891

$

10,993,669

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$

401,318

$

347,493

Salaries and benefits payable

201,311

228,267

Accrued warranty costs

71,560

72,921

Accrued sales program costs

118,531

153,193

Other accrued expenses

249,765

257,651

Deferred revenue

106,956

105,646

Income taxes payable

326,081

381,549

Dividend payable

607,651

173,351

Total current liabilities

2,083,173

1,720,071

Deferred income tax liabilities

107,365

109,701

Noncurrent income taxes payable

3,754

3,596

Noncurrent deferred revenue

22,072

22,277

Noncurrent operating lease liabilities

177,957

164,835

Other noncurrent liabilities

557

625

Stockholders' equity:

Common shares, $0.10 par value (194,901 and 194,901 shares authorized and

issued; 192,910 and 192,620 shares outstanding)

19,490

19,490

Additional paid-in capital

2,381,041

2,368,670

Treasury shares (1,991 and 2,281 shares)

(427,840)

(406,423)

Retained earnings

7,106,837

6,970,182

Accumulated other comprehensive income (loss)

(50,515)

20,645

Total stockholders' equity

9,029,013

8,972,564

Total liabilities and stockholders' equity

$

11,423,891

$

10,993,669

Garmin Ltd. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

26-Weeks Ended

June 27, 2026

June 28, 2025

Operating Activities:

Net income

$

946,999

$

733,591

Adjustments to reconcile net income to net cash provided by

   operating activities:

Depreciation

81,270

75,980

Amortization

16,711

17,423

Loss on sale or disposal of property and equipment

55

350

Unrealized foreign currency losses (gains)

2,575

(16,566)

Deferred income taxes

3,418

(49,754)

Stock compensation expense

88,793

82,279

Realized loss on marketable securities

597

706

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable, net of allowance for doubtful accounts

84,187

17,902

Inventories

(209,361)

(206,276)

Other current and noncurrent assets

(44,687)

(37,092)

Accounts payable

59,547

(2,591)

Other current and noncurrent liabilities

(68,307)

2,408

Deferred revenue

1,187

(6,843)

Deferred costs

4,310

7,262

Income taxes

(27,750)

(24,820)

Net cash provided by operating activities

939,544

593,959

Investing activities:

Purchases of property and equipment

(194,395)

(85,738)

Purchase of marketable securities

(510,525)

(465,372)

Redemption of marketable securities

311,308

306,469

Net payments for acquisitions

(2,993)

(1,973)

Other investing activities, net

(68)

503

Net cash used in investing activities

(396,673)

(246,111)

Financing activities:

Dividends

(376,045)

(317,748)

Proceeds from issuance of treasury shares related to equity awards

31,442

29,065

Purchase of treasury shares related to equity awards

(47,063)

(33,431)

Purchase of treasury shares under share repurchase plan

(81,581)

(93,632)

Net cash used in financing activities

(473,247)

(415,746)

Effect of exchange rate changes on cash and cash equivalents

(14,014)

60,650

Net increase (decrease) in cash, cash equivalents, and restricted cash

55,610

(7,248)

Cash, cash equivalents, and restricted cash at beginning of period

2,279,360

2,080,154

Cash, cash equivalents, and restricted cash at end of period

$

2,334,970

$

2,072,906

Garmin Ltd. and Subsidiaries

Net Sales, Gross Profit and Operating Income by Segment (Unaudited)

(In thousands)

Fitness

Outdoor

Aviation

Marine

Auto OEM

Total

13-Weeks Ended June 27, 2026

Net sales

$

756,823

$

482,740

$

268,749

$

341,369

$

172,411

$

2,022,092

Gross profit

480,723

332,319

201,971

208,964

38,045

1,262,022

Operating income (loss)

277,039

163,583

72,166

99,848

2,872

615,508

13-Weeks Ended June 28, 2025

Net sales

$

605,425

$

490,357

$

249,366

$

299,262

$

170,154

$

1,814,564

Gross profit

364,670

324,429

185,472

164,338

28,103

1,067,012

Operating income (loss)

197,630

157,881

63,383

62,921

(9,520)

472,295

26-Weeks Ended June 27, 2026

Net sales

$

1,303,646

$

900,270

$

532,590

$

696,385

$

342,691

$

3,775,582

Gross profit

819,246

610,261

399,279

406,340

69,184

2,304,310

Operating income (loss)

434,659

282,373

143,100

190,606

(3,565)

1,047,173

26-Weeks Ended June 28, 2025

Net sales

$

990,147

$

928,853

$

472,481

$

618,699

$

339,483

$

3,349,663

Gross profit

584,813

606,964

353,374

348,271

58,135

1,951,557

Operating income (loss)

275,344

286,668

111,739

149,785

(18,417)

805,119

Garmin Ltd. and Subsidiaries

Net Sales by Geography (Unaudited)

(In thousands)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

YoY

June 27,

June 28,

YoY

2026

2025

Change

2026

2025

Change

Net sales

$

2,022,092

$

1,814,564

11 %

$

3,775,582

$

3,349,663

13 %

Americas

979,390

878,014

12 %

1,801,019

1,623,747

11 %

EMEA

766,069

677,402

13 %

1,422,914

1,246,355

14 %

APAC

276,633

259,148

7 %

551,649

479,561

15 %

Americas - North America & South America; EMEA - Europe, Middle East & Africa; APAC - Asia Pacific & Australian Continent

Non-GAAP Financial Information

To supplement our financial results presented in accordance with GAAP, this release includes the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: pro forma effective tax rate, pro forma net income (earnings) per share and free cash flow. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP measures used by other companies, limiting the usefulness of the measures for comparison with other companies. Management believes providing investors with an operating view consistent with how it manages the Company provides enhanced transparency into the operating results of the Company, as described in more detail by category below. 

The tables below provide reconciliations between the GAAP and non-GAAP measures.

Pro forma effective tax rate

The Company's income tax expense is occasionally impacted by discrete tax items that are not reflective of income tax expense incurred as a result of current period earnings. Therefore, management believes the effective tax rate and income tax provision before the effect of certain discrete tax items are important measures to permit investors' consistent comparison between periods. In the first half of 2026 and 2025 there were no such discrete tax items identified.

Pro forma net income (earnings) per share

Management believes net income (earnings) per share before the impact of foreign currency gains or losses and certain discrete income tax items, as discussed above, is an important measure to permit a consistent comparison of the Company's performance between periods.

(In thousands, except per share information)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

GAAP net income

$

541,920

$

400,822

$

946,999

$

733,591

Foreign currency gains / losses(1)

2,492

23,512

(630)

(1,248)

Tax effect of foreign currency gains / losses(2)

(418)

(3,889)

99

195

Pro forma net income

$

543,994

$

420,445

$

946,468

$

732,538

GAAP net income per share:

Basic

$

2.81

$

2.08

$

4.91

$

3.81

Diluted

$

2.80

$

2.07

$

4.89

$

3.79

Pro forma net income per share:

Basic

$

2.82

$

2.18

$

4.91

$

3.80

Diluted

$

2.81

$

2.17

$

4.89

$

3.78

Weighted average common shares outstanding:

Basic

192,836

192,523

192,755

192,534

Diluted

193,471

193,416

193,515

193,557

(1) Foreign currency gains and losses for the Company are driven by movements of a number of currencies in relation to the U.S. Dollar and the related exchange rate impact on the significant cash, receivables, and payables held in a currency other than the functional currency at a given legal entity.  However, there is minimal cash impact from such foreign currency gains and losses.

(2) The tax effect of foreign currency gains was calculated using the effective tax rates of 16.8% and 15.7% for the 13-weeks and 26-weeks ended June 27, 2026, respectively, and 16.5% and 15.6% for the 13-weeks and 26-weeks ended June 28, 2025, respectively.

Free cash flow

Management believes free cash flow is an important liquidity measure because it represents the amount of cash provided by operations that is available for investing and defines it as operating cash flows less capital expenditures for property and equipment. Management believes excluding purchases of property and equipment provides a better understanding of the underlying trends in the Company's operations and allows more accurate comparisons of the Company's results between periods. This metric may also be useful to investors but should not be considered in isolation as it is not a measure of cash flow available for discretionary expenditures. The most comparable GAAP measure is net cash provided by operating activities.

(In thousands)

13-Weeks Ended

26-Weeks Ended

June 27,

June 28,

June 27,

June 28,

2026

2025

2026

2025

Net cash provided by operating activities

$

403,556

$

173,171

$

939,544

$

593,959

Less: purchases of property and equipment

(127,778)

(45,677)

(194,395)

(85,738)

Free cash flow

$

275,778

$

127,494

$

745,149

$

508,221

Forward-looking Financial Measures

The forward-looking financial measures in our 2026 guidance provided above do not consider the potential future net effect of foreign currency exchange gains and losses, certain discrete tax items and any other impacts that may be identified as pro forma adjustments in calculating the non-GAAP measures described above. 

The estimated impact of foreign currency gains and losses cannot be reasonably estimated on a forward-looking basis due to the high variability and low visibility with respect to non-operating foreign currency exchange gains and losses and the related tax effects of such gains and losses. The impact on diluted net income per share of foreign currency gains and losses, net of tax effects, was $0.00 per share for the 26-week period ended June 27, 2026.

At this time, management is unable to determine whether or not significant discrete tax items will occur in fiscal 2026, estimate the impact of any such items, or anticipate the impact of any other events that may be considered in the calculation of non-GAAP financial measures.

SOURCE Garmin Ltd.

Collaboration with the FAA and MITRE allows Garmin Pilot users to obtain and cancel IFR clearances within the app at select U.S. airports

, /PRNewswire/ -- Garmin (NYSE: GRMN) today announced Mobile Clearance Delivery for Garmin Pilot™, giving Garmin Pilot Premium subscribers on iOS devices a more seamless way to obtain and cancel IFR clearances at select airports within the United States. Integrated into the new Flights page in Garmin Pilot, Mobile Clearance Delivery helps general and business aviation pilots reduce radio or phone communications with air traffic control, view textual clearances and move more efficiently from planning to departure. 

Garmin Pilot adds Mobile Clearance Delivery for streamlined IFR clearances "Mobile Clearance Delivery is another example of how Garmin continues to integrate the planning and flying experience in ways that are meaningful to pilots. By bringing clearance delivery directly into Garmin Pilot, we're helping reduce workload, improve clarity and save valuable time for both pilots and air traffic control."
–Carl Wolf, Garmin Vice President Aviation Sales, Marketing, Programs & Support 

For many instrument pilots, obtaining an IFR clearance typically requires contacting ATC by radio or phone, particularly at airports where Pre-Departure Clearance or Data Comm services are not available. Mobile Clearance Delivery streamlines that process by allowing Garmin Pilot Premium users to receive clearances electronically on the ground, helping reduce frequency congestion, minimize readback errors and improve efficiency for pilots and controllers alike.

After filing an IFR flight plan in Garmin Pilot, users operating from a Mobile Clearance Delivery-capable airport will see the feature appear in the Flights page within 30 minutes of departure. Pilots can start a Mobile Clearance Delivery session, receive their clearance from ATC, review it in the app and accept it with a "WILCO" response. Once accepted, the cleared route can be seamlessly overlaid on the Garmin Pilot map, and when properly equipped, may be sent to compatible avionics via Connext®.

The clearance remains available for review in Garmin Pilot, giving pilots a text-based reference that can help improve clarity throughout the flight. Before takeoff, the clearance is accessible from the Flights page and through a banner that persists across the app; after departure, pilots can continue to reference the clearance from the Flights page for 48 hours.

A future enhancement will allow Garmin Pilot users to cancel IFR directly in the app after landing at airports that support Mobile Clearance Delivery. This capability is especially useful at uncontrolled airports or Class D towered airports when the tower is closed, helping pilots avoid additional radio or phone calls while allowing other IFR operations to move more efficiently.

Garmin developed Mobile Clearance Delivery in collaboration with the Federal Aviation Administration and MITRE and the feature is still in its operational test and evaluation phase. Available in a limited capacity now, the feature will be rolled out nationwide in phases through 2028. Five airports are currently operational for testing and evaluation, including New Century AirCenter (KIXD), Garmin's home airport near its headquarters in Olathe, Kansas; Hooks Field (KDWH); Sugar Land Regional Airport (KSGR); Galveston Scholes International Airport (KGLS); and Appleton International Airport (KATW).

Pilots attending AirVenture Oshkosh and departing from Appleton on an IFR flight plan are encouraged to try the feature and share feedback on their experience. Additionally, all Garmin Pilot Premium users operating out of test and evaluation airports are invited to send feedback to [email protected]. For more information, visit Garmin.com/Aviation.

Garmin products and services have revolutionized flight and become essential to the lives of pilots and aircraft owners and operators around the world. A leading provider of solutions to general aviation, business aviation, rotorcraft, advanced air mobility, government and defense, and commercial air carrier customers, Garmin believes every day is an opportunity to innovate. Recipient of the prestigious Robert J. Collier Trophy for Garmin Autoland, Garmin developed the world's first certified autonomous system that activates during an emergency to control and land an aircraft without human intervention. Visit the Garmin Newsroom, email our media team, connect with @garminaviation on social, or follow our blog.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin and Connext are registered trademarks and Garmin Pilot is a trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 27, 2025, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). Copies of such Form 10-K are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contact:
Mikayla Rudolph
913-397-8200
[email protected] 

SOURCE Garmin International, Inc.

Distraction-free design provides comprehensive 24/7 health monitoring and activity tracking—no subscription required

, /PRNewswire/ -- Garmin (NYSE: GRMN) today announced CIRQA™ Smart Band, its first screen-free smart band that tracks advanced fitness and wellness features—all without the need for a subscription. Designed to help users make improvements toward a healthier lifestyle without commanding all their attention, this smart band gets up to 10 days of battery life and provides around-the-clock health and fitness monitoring with data that can instantly be accessed through the Garmin Connect™ app.

CIRQA Smart Band is Garmin's first screenless smart band that provides comprehensive 24/7 health monitoring and activity tracking - no subscription required. "We purposefully created CIRQA Smart Band for those who are passionate about staying healthy and active. With its discreet design and trusted health and fitness tracking tools Garmin is known for, this smart band complements our lineup of popular smartwatches and wellness monitors, allowing users to transition smoothly between their Garmin devices throughout the day. Plus, with no subscription required, CIRQA Smart Band helps you stay on top of your health and fitness goals—and makes a thoughtful gift for others who want to do the same."
—Susan Lyman, Garmin Vice President of Consumer Sales and Marketing 

Comfortable and distraction-free

Inconspicuous design helps minimize distractions while tracking important health and performance metrics. Automatically detect and record a variety of activities, even without a screen. The activities can be viewed and edited afterwards in Garmin Connect and, as users confirm or edit their activities, the smart band will adapt to more accurately classify them in the future. Fabric band provides maximum comfort for all-day wear and is available in both fun and neutral colors like Citron Gray, Mauve, French Gray, Dark Olive, Captain Blue, French Blue and Black. Can be worn around the wrist or as an arm band based on activity or sleeping preferences. Health monitoring

When worn day and night, CIRQA Smart Band helps provide a more complete picture of overall health1. Users can track metrics like wrist-based heart rate, Body Battery™ energy monitoring, Pulse Ox2, stress, skin temperature and more and immediately see their data in Garmin Connect. Women can also track their menstrual cycle and pregnancy, get better period predictions and past ovulation estimates by tracking skin temperature while sleeping3 and sync their data with the FDA-cleared Natural Cyclesº birth control app4 (Natural Cycles subscription required).

Comfortable without compromise, CIRQA Smart Band can help users log a better night's sleep and understand how well they've recovered. This smart band provides comprehensive sleep data, including a detailed breakdown of sleep stages, a sleep score, guidance on optimal sleep duration, heart rate variability, respiration and nap detection—all readily available within the Garmin Connect app.

Fitness tracking

In addition to tracking daily steps, calories burned and more, CIRQA Smart Band includes popular fitness features to help users make the most of their workouts.

Manual activity tracking: Track more than 80 different activities – including running, walking, yoga and more – or select a favorite activity to track by simply tapping the single side button. Advanced training metrics: Dial in with performance features like training readiness to know whether it's a good day to go hard or take it easy and track progress with HRV status, VO2 max and training status to get insights into training effectiveness. Workout benefit and recovery time: Better understand how each workout affects the body and how much time is needed to recover. Connected GPS: Connect to a compatible iPhone® or Android™ smartphone's GPS to accurately track outdoor walks, rides and runs. LiveTrack location sharing: Let friends and family follow along in real-time when using a smartphone and the Garmin Connect app. Available now, CIRQA Smart Band has a suggested retail price of $199.99.

Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Visit the Garmin Newsroom, email our media team, connect with @garmin on social, or follow our blog.

1 Activity tracking accuracy.
2 This is not a medical device and is not intended for use in the diagnosis or monitoring of any medical condition; see Garmin.com/ataccuracy. Pulse Ox not available in all countries.
3 This feature is not intended to support conception, contraception or birth control. This is not a medical device and is not intended for diagnosing or monitoring any medical condition. See Garmin.com/ataccuracy.
4 Compatible Garmin smartwatches are consumer wellness devices and are not medical devices intended to diagnose, treat, prevent or monitor medical conditions. The Natural Cycles app independently determines fertility status based on skin temperature and other data when worn on the wrist. 

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark and CIRQA, Garmin Connect, Body Battery and Garmin Active Intelligence are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. Android is a trademark of Google LLC.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 27, 2025, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). Copies of such Form 10-K are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

MEDIA CONTACTS: Stephanie Kelner, Natalie Miller and Adrieanna Norse / 913-397-8200 / [email protected]

SOURCE Garmin International, Inc.

First-of-its-kind system combines flight display, IFR GPS, NAV/COMM and audio panel capability into a single display for certified, experimental and LSA (MOSAIC) aircraft

, /PRNewswire/ -- Garmin (NYSE: GRMN) today announced AXIS™, an all-new family of flight displays, designed from the ground up to offer a highly integrated and flexible cockpit display solution. AXIS brings Garmin's latest avionics technology to certified piston-powered single and twin1 engine aircraft via an expansive AML STC covering hundreds of models, as well as experimental and LSA aircraft. In an industry-first, AXIS flight displays come in a variety of models that can include a built-in IFR GPS, NAV/COMM radio, and audio panel capability – creating an integrated solution that enhances the user experience, reduces aircraft weight, and simplifies installation. Also compatible with many of the same navigators, radios, modules and sensors as Garmin's popular G3X Touch™ flight displays, AXIS features an easy upgrade path, including leveraging the same panel cutouts and mounting points.

Garmin unveils AXIS, a new generation of highly integrated flight displays "AXIS redefines Garmin's flight display portfolio and brings industry-first capability to a single flight display. This game-changing flight display system delivers a modern, highly capable cockpit experience while significantly reducing time, complexity and cost of installation through integration of navigation, communication and audio functions into a single flight display. The visual design elements and crisp user interface bring together decades of Garmin innovation in a familiar yet modern design. AXIS sets the new standard for what pilots can expect from an integrated flight display system." 
–Carl Wolf, Garmin Vice President Aviation Sales, Marketing, Programs & Support 

A next-level flight display system

The AXIS family of flight displays features three display sizes — 11.6-inch landscape, 8-inch portrait1 and 8-inch landscape1— that include highly responsive touchscreen displays as well as physical controls for quick access to key functions. Each display can be configured as a primary flight display (PFD) or multi-function display (MFD) with an optional engine indication system (EIS). Pilots can maximize their situational awareness with full-screen or split-screen options, leveraging a familiar yet modernized user interface. The flight displays are configurable for both experimental and certified aircraft and provide incredible flexibility for installation across many aircraft types.

First-of-its-kind integration

AXIS 11.6-inch displays are optionally available with a TSO certified IFR GPS, COMM radio, NAV radio and audio panel all built into a single display. This combined capability from a single display creates a highly integrated panel experience and enables a simpler and more cost-effective installation. The VHF COMM radio offers 10 watts of transmit power, supports 8.33khz frequency tuning and standby COMM monitoring, allowing pilots to monitor a standby frequency while tuned to the active ATC frequency. Pilots can access the flight plan across displays and easily load waypoints or VORs, holds, GPS and ILS procedures and more. The built-in 4-place intercom audio panel includes dual-comm switching with support for one external radio, comm playback and Bluetooth capability for music and phone calls. Available in three certified (TSO) variants, the base version offers a PFD/MFD, while the GPS/COMM and GPS/NAV/COMM models include an IFR GPS and integrated audio panel. Experimental and LSA aircraft can leverage both certified and non-TSO versions of the 11.6-inch displays.

Enhanced situational awareness

Important information is easily accessible on the PFD including primary flight data, as well as the horizontal situation indicator (HSI) which can include an embedded map or traffic view. Widgets provide additional situational awareness on the PFD by displaying three compact views of MFD functions including map, flight plan, weather, traffic and more. Enhanced Synthetic Vision Technology (SVT™) provides 3D depictions of terrain, obstacles, runway and taxiway markings and more, allowing for pilots to clearly interpret their surroundings. Pathway rectangles will help pilots to visualize the highway in the sky, depicting their flight path including enroute legs, flight track, course intercepts and more. Additionally, 3D SafeTaxi® provides pilots with a three-dimensional, exocentric view of the airport environment directly on their PFD, reducing potential confusion by giving a clear, localized picture of taxiways, runways, hangars and surrounding buildings.

The MFD features dynamic mapping, ADS-B traffic2, weather2, waypoint information (including terminal charts) and expanded EIS. Additionally, an HDMI video input on each display allows for live-camera video monitoring.

Innovative safety tools

AXIS supports many of Garmin's award-winning safety enhancing technologies. A dedicated emergency button is located on the display bezel, allowing pilots to quickly access emergency procedure options if needed. Smart Glide™ – a Garmin Autonomí™ technology – helps pilots in loss of engine power emergencies by efficiently navigating to an airport in range and, if the aircraft is equipped with either a GFC™ 500 or GFC 600, the system can auto-engage to fly the aircraft enroute.

Terminal safety solutions include award-winning Runway Occupancy Awareness (ROA), a solution that uses ADS-B traffic to alert the crew of potential runway incursions caused by nearby airborne aircraft, taxiing aircraft and ground vehicles. Additionally, optional SurfaceWatch™ runway monitoring technology provides general situational awareness in airport environments as well as visual and aural cues to help prevent pilots from taking off or landing on a taxiway.

Advanced engine monitoring

The EIS within AXIS provides aircraft with real-time data to help better manage engine operation and protect aircraft engines. Large, prominent engine gauges provide color-coded pointers and data bands that indicate normal operating ranges, cautions and exceedances. Bar gauges display numerical values for additional precision. With an interface adapter and sensors, AXIS can serve as the primary EIS display in piston-powered aircraft equipped with most normally aspirated or turbocharged 4- to 6-cylinder engines, plus radial and turbine-powered experimental aircraft3. Upon landing, flight and engine data logs can be automatically uploaded to flyGarmin.com via the Garmin Pilot™ app or the GDL® 60 datalink1 and PlaneSync™ service. Pilots can optionally choose to share these logs with analysis services such as FlySto or SavvyAviation to gain deeper insights on engine health, maintenance updates, flight analysis and more.

Stay connected

Advanced connectivity options allow pilots to stay more connected than ever before. Built-in Wi-Fi and Bluetooth allow pilots to connect with Garmin Pilot in-flight as well as share GPS, traffic, weather, flight plans and more. PlaneSync, powered by the GDL 60 datalink1, will support automatic database downloads3, remote aircraft status4 as well as automatic flight log uploading. A built-in USB-C data port supports data transfer capabilities like downloading databases and offloading flight logs. The USB-C port will also support device charging up to 27W. Additionally, Database Concierge allows pilots to download updates to their Garmin Pilot app and wirelessly transfer to their compatible avionics via a compatible mobile device.

Team X simplifies installations

Team X – the experimental aircraft specialists at Garmin – were the voice for experimental builders and pilots throughout the development of AXIS. Composed of engineers, pilots and aircraft builders, they understand the flexibility and affordability needed to execute an experimental aircraft build. That's why AXIS features a streamlined, easy upgrade path from G3X Touch that utilizes most existing sensors, LRUs and even the same panel cutout and existing mounting holes. Simplified wiring, configuration and additional built-in I/O makes AXIS an even faster and more scalable system. Team X is committed to providing support throughout AXIS upgrades for experimental aircraft builders.

Available for certified and experimental aircraft

The AXIS 11.6-inch flight displays have achieved FAA/EASA Technical Standard Order (TSO) and will be available in July. The 8-inch displays are expected to be available in early 2027. The FAA Supplemental Type Certificate (STC) will cover hundreds of models of certified Part 23 Class I/II piston singles and twins1. STC approvals with other civil aviation authorities are expected in the near future. For more information, visit Garmin.com/AXIS.

Garmin products and services have revolutionized flight and become essential to the lives of pilots and aircraft owners and operators around the world. A leading provider of solutions to general aviation, business aviation, rotorcraft, advanced air mobility, government and defense, and commercial air carrier customers, Garmin believes every day is an opportunity to innovate. Recipient of the prestigious Robert J. Collier Trophy for Garmin Autoland, Garmin developed the world's first certified autonomous system that activates during an emergency to control and land an aircraft without human intervention. Visit the Garmin Newsroom, email our media team, connect with @garminaviation on social, or follow our blog.

1 Certified Twin EIS, 8-inch displays and GFC 600 compatibility coming soon.
2 Compatible datalink required; sold separately.
3 Active PlaneSync and database subscriptions required for automatic database updates. Active PlaneSync subscription plan required for flight log uploading. Features are available on-ground only and requires GDL 60 to have active LTE or Wi-Fi connectivity; signal strength and other factors may apply. See Garmin.com/PlaneSyncCoverage for LTE coverage details.
4 Remote aircraft status requires active PlaneSync subscription. User's smart device must have internet connectivity. Feature is available on-ground only and requires GDL 60 to have LTE connectivity; signal strength and other factors may apply. See Garmin.com/PlaneSyncCoverage for coverage details.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, SafeTaxi and GDL are registered trademarks and AXIS, G3X Touch, SVT, Smart Glide, Autonomí, GFC, SurfaceWatch, Garmin Pilot and PlaneSync are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 27, 2025, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). Copies of such Form 10-K are available at https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contact: Mikayla Rudolph // 913-397-8200 // [email protected]

SOURCE Garmin International, Inc.