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 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。
Photo via Wikimedia Commons
照片来自维基共享资源