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Garmin's Advanced Wearables Are In Demand, Surprises With Q1 Profit Growth

Garmin's Advanced Wearables Are In Demand, Surprises With Q1 Profit Growth

Garmin的高级可穿戴设备需求旺盛,第一季度利润增长出人意料
Benzinga ·  05/01 09:47

Garmin Ltd (NYSE:GRMN) reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to $1.38 billion, beating the consensus of $1.25 billion.

Garmin Ltd(纽约证券交易所代码:GRMN)报告称,2024财年第一季度收入同比增长20%,达到13.8亿美元,超过了市场预期的12.5亿美元。

The GPS navigation and wearable technology company's proforma EPS of $1.42 beat the consensus of $1.01.

这家GPS导航和可穿戴技术公司的预计每股收益为1.42美元,超过了市场共识的1.01美元。

Segments: Revenue from Fitness grew by 40% year over year to $342.89 million, with growth across all categories led by strong demand for advanced wearables.

细分市场:健身收入同比增长40%,达到3.4289亿美元,所有类别的增长都归因于对高级可穿戴设备的强劲需求。

Outdoor revenue improved by 11% year over year to $366.19 million, primarily due to growth in wearables. Aviation revenue grew by 2% year over year to $216.86 million, primarily due to growth in OEM product categories.

户外收入同比增长11%,达到3.6619亿美元,这主要是由于可穿戴设备的增长。航空收入同比增长2%,达到2.1686亿美元,这主要是由于OEM产品类别的增长。

Marine revenue increased by 17% Y/Y to $326.74 million due to contributions from the acquisition of JL Audio. Auto OEM grew 58% Y/Y to $128.97 million, primarily due to increased shipments of domain controllers to BMW.

由于收购JL Audio的捐款,海运收入同比增长17%,达到3.2674亿美元。汽车整车厂同比增长58%,达到1.2897亿美元,这主要是由于向宝马的域控制器出货量增加。

The gross margin improved by 120 bps to 58.1%. The operating margin climbed to 21.6% from 17.2% a year ago.

毛利率提高了120个基点至58.1%。营业利润率从去年同期的17.2%攀升至21.6%。

Garmin generated $402.14 million in free cash flow for the quarter versus $232.4 million a year ago. It held $3.3 billion in cash and equivalents as of March 30, 2024.

Garmin在本季度创造了4.0214亿美元的自由现金流,而去年同期为2.324亿美元。截至2024年3月30日,它持有33亿美元的现金及等价物。

Dividend: The Board intends to recommend a cash dividend of $3.00 per share, payable in four equal installments.

股息:董事会打算建议每股3.00美元的现金分红,分四次等额分期支付。

FY24 Outlook: Garmin reiterated a revenue outlook of $5.75 billion versus the consensus of $5.73 billion.

24财年展望:Garmin重申收入前景为57.5亿美元,而市场普遍预期为57.3亿美元。

Garmin maintained a proforma EPS of $5.40 against the consensus of $5.39.

Garmin的预计每股收益维持在5.40美元,而市场普遍预期为5.39美元。

Garmin stock gained 47% in the last 12 months. Investors can gain exposure to the stock via Global X Internet Of Things ETF (NASDAQ:SNSR) and Procure Space ETF (NASDAQ:UFO).

在过去的12个月中,Garmin的股票上涨了47%。投资者可以通过Global X物联网ETF(纳斯达克股票代码:SNSR)和Procure Space ETF(纳斯达克股票代码:UFO)获得股票敞口。

Price Action: GRMN shares traded higher by 8.82% at $157.21 at the last check Wednesday.

价格走势:在周三的最后一次支票中,GRMN股价上涨8.82%,至157.21美元。

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