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

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

業績電話會議摘要 | Garmin (GRMN.US) 2024 年第一季度業績會議
moomoo AI ·  05/01 16:22  · 電話會議

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

以下是Garmin Ltd(GRMN)2024年第一季度業績電話會議記錄的摘要:

Financial Performance:

財務業績:

  • 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報告稱,第一季度合併收入增長了20%,創下了創紀錄的13.8億美元,其中四個細分市場實現了兩位數的增長。

  • 毛利率和營業利潤率同比分別增長至58.1%和21.6%,創紀錄的第一季度營業收入爲2.98億美元,同比增長51%。

  • 該公司的預計每股收益爲1.42美元,與去年相比增長了39%。

  • 健身部門表現強勁,收入爲3.43億美元,增長40%,毛利率和營業利潤率分別提高到57%和20%。

  • 其他細分市場的收入:戶外收入增長了11%,達到3.66億美元;航空收入增長了2%,達到2.17億美元;海運收入增長了17%,達到3.27億美元;汽車原始設備製造商收入大幅增長58%,達到1.29億美元。

Business Progress:

業務進展:

  • 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.

  • 值得注意的產品發佈包括其健身領域的Forerunner 165,該產品受到了市場的好評。

  • 航空部門公佈了一項航空電子設備現代化計劃,以提高安全性並減少飛行員的工作量。

  • 重大業務擴張獲得了同意,例如爲兩輪汽車設計和製造數字儀表盤以及爲工業卡車製造商設計和製造全套信息娛樂系統。

  • 該公司在本季度末擁有價值約33億美元的現金和有價證券,創造了4.02億美元的自由現金流,反映了健康的財務狀況。

More details: Garmin IR

更多詳情: Garmin IR

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