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Earnings Call Summary | Garmin(GRMN.US) Q1 2024 Earnings Conference

Earnings Call Summary | Garmin(GRMN.US) Q1 2024 Earnings Conference

财报电话会议摘要 | Garmin (GRMN.US) 2024 年第一季度财报会议
moomoo AI ·  05/01 16:22  · 电话会议

The following is a summary of the Garmin Ltd (GRMN) Q1 2024 Earnings Call Transcript:

以下是Garmin Ltd(GRMN)2024年第一季度财报电话会议记录的摘要:

Financial Performance:

财务业绩:

  • Garmin reported Q1 consolidated revenue growth of 20%, resulting in a record $1.38 billion, with four segments delivering double-digit growth.

  • Gross and operating margins expanded year-over-year to 58.1% and 21.6%, respectively, with a record Q1 operating income of $298 million, up 51% year-over-year.

  • The company registered a pro forma EPS of $1.42, marking an increase of 39% compared to last year.

  • The Fitness unit achieved strong performance with revenue of $343 million, an increase of 40%, which improved gross and operating margins to 57% and 20%, respectively.

  • Other segment revenues: Outdoor increased 11% to $366 million; Aviation revenue rose by 2% to $217 million; Marine revenue increased by 17% to hit $327 million; Auto OEM revenue recorded a significant increase of 58% to $129 million.

  • Garmin报告称,第一季度合并收入增长了20%,创下了创纪录的13.8亿美元,其中四个细分市场实现了两位数的增长。

  • 毛利率和营业利润率同比分别增长至58.1%和21.6%,创纪录的第一季度营业收入为2.98亿美元,同比增长51%。

  • 该公司的预计每股收益为1.42美元,与去年相比增长了39%。

  • 健身部门表现强劲,收入为3.43亿美元,增长40%,毛利率和营业利润率分别提高到57%和20%。

  • 其他细分市场的收入:户外收入增长了11%,达到3.66亿美元;航空收入增长了2%,达到2.17亿美元;海运收入增长了17%,达到3.27亿美元;汽车原始设备制造商收入大幅增长58%,达到1.29亿美元。

Business Progress:

业务进展:

  • Noteworthy product releases include the Forerunner 165 in their Fitness segment, which was well received by the market.

  • The Aviation unit unveiled an avionics modernization program to improve safety and reduce pilot workload.

  • Consent was given on significant business expansions like the design and manufacture of digital instrument clusters for 2-wheel vehicles and full infotainment systems for an industrial truck maker.

  • The company ended the quarter with cash and marketable securities worth approximately $3.3 billion and generated a free cash flow of $402 million, reflecting a healthy financial position.

  • 值得注意的产品发布包括其健身领域的Forerunner 165,该产品受到了市场的好评。

  • 航空部门公布了一项航空电子设备现代化计划,以提高安全性并减少飞行员的工作量。

  • 重大业务扩张获得了同意,例如为两轮汽车设计和制造数字仪表盘以及为工业卡车制造商设计和制造全套信息娱乐系统。

  • 该公司在本季度末拥有价值约33亿美元的现金和有价证券,创造了4.02亿美元的自由现金流,反映了健康的财务状况。

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