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Garmin (GRMN) to Report Q4 Earnings: What's in the Cards?
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Garmin (GRMN - Free Report) is scheduled to report fourth-quarter 2021 results on Feb 16.
For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $1.37 billion, indicating an improvement of 1.01% from the year-ago reported value.
The consensus mark for earnings per share is pegged at $1.41, suggesting a decline of 18.5% from the prior-year reported figure. Further, the metric has been unchanged over the past 30 days.
The company surpassed the Zacks Consensus Estimate in all the trailing four quarters, with the average being 27%.
Solid momentum across fitness and outdoor segments is expected to have benefited Garmin’s performance in the fourth quarter.
Strong demand for the company’s wearables and cycling products is likely to have continued aiding the fitness segment’s performance in the to-be-reported quarter. Further, GRMN introduced the SHIMANO Di2 update in the underlined quarter to enable Edge cycling computers to provide a better riding experience to cyclists. This might have remained a positive.
Also, GRMN’s outdoor segment has been benefiting from the growing popularity of adventure watches. This is expected to have remained a tailwind in the quarter under review.
In addition, growing contributions from OEM and aftermarket product categories are anticipated to have continued supporting the aviation segment’s performance in the fourth quarter.
Apart from this, the growing demand for marine products is likely to have contributed well to the marine segment’s top-line growth in the fourth quarter. During the quarter, GRMN introduced the GPSMAP 79 marine handheld series to equip mariners with powerful navigation tools. It also launched the GMR Fantom 18x and GMR Fantom 24x solid-state dome radars to provide mariners with valuable vessel position information. These initiatives are likely to have driven segmental revenues in the fourth quarter.
Further, contributions from consumer categories and new OEM programs are likely to have benefited the automotive segment in the quarter under review. Also, the introduction of the Garmin DriveSmart 66, 76 and 86 series during the quarter is expected to get reflected in the upcoming results.
Yet, the increasing research & development, selling, general & administrative, and advertising expenses are likely to have affected the quarterly performance. Further, higher freight costs and supply chain challenges are expected to get reflected in fourth-quarter results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Garmin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Garmin has an Earnings ESP of 0.00% and a Zacks Rank #2, at present.
Stocks to Consider
Here are some stocks that you may consider as our model shows that these have the right combination of elements to beat on earnings this season.
NetApp is scheduled to release third-quarter fiscal 2022 results on Feb 23. The Zacks Consensus Estimate for NTAP’s earnings is pegged at $1.28 per share, suggesting an increase of 16.4% from the prior-year reported figure.
Keysight Technologies (KEYS - Free Report) has an Earnings ESP of +2.17% and a Zacks Rank #2 at present.
Keysight Technologies is set to report first-quarter fiscal 2022 results on Feb 17. The Zacks Consensus Estimate for KEYS’ earnings is pegged at $1.56 per share, which suggests an increase of 9.1% from the prior-year reported figure.
Zscaler (ZS - Free Report) has an Earnings ESP of +2.10% and a Zacks Rank #2 at present.
Zscaler is scheduled to release second-quarter fiscal 2022 results on Feb 24. The Zacks Consensus Estimate for ZS’s earnings is pegged at 11 cents per share, which suggests an increase of 10% from the prior-year reported figure.
Image: Bigstock
Garmin (GRMN) to Report Q4 Earnings: What's in the Cards?
Garmin (GRMN - Free Report) is scheduled to report fourth-quarter 2021 results on Feb 16.
For the fourth quarter, the Zacks Consensus Estimate for revenues is pegged at $1.37 billion, indicating an improvement of 1.01% from the year-ago reported value.
The consensus mark for earnings per share is pegged at $1.41, suggesting a decline of 18.5% from the prior-year reported figure. Further, the metric has been unchanged over the past 30 days.
The company surpassed the Zacks Consensus Estimate in all the trailing four quarters, with the average being 27%.
Garmin Ltd. Price and EPS Surprise
Garmin Ltd. price-eps-surprise | Garmin Ltd. Quote
Key Factors to Note
Solid momentum across fitness and outdoor segments is expected to have benefited Garmin’s performance in the fourth quarter.
Strong demand for the company’s wearables and cycling products is likely to have continued aiding the fitness segment’s performance in the to-be-reported quarter. Further, GRMN introduced the SHIMANO Di2 update in the underlined quarter to enable Edge cycling computers to provide a better riding experience to cyclists. This might have remained a positive.
Also, GRMN’s outdoor segment has been benefiting from the growing popularity of adventure watches. This is expected to have remained a tailwind in the quarter under review.
In addition, growing contributions from OEM and aftermarket product categories are anticipated to have continued supporting the aviation segment’s performance in the fourth quarter.
Apart from this, the growing demand for marine products is likely to have contributed well to the marine segment’s top-line growth in the fourth quarter. During the quarter, GRMN introduced the GPSMAP 79 marine handheld series to equip mariners with powerful navigation tools. It also launched the GMR Fantom 18x and GMR Fantom 24x solid-state dome radars to provide mariners with valuable vessel position information. These initiatives are likely to have driven segmental revenues in the fourth quarter.
Further, contributions from consumer categories and new OEM programs are likely to have benefited the automotive segment in the quarter under review. Also, the introduction of the Garmin DriveSmart 66, 76 and 86 series during the quarter is expected to get reflected in the upcoming results.
Yet, the increasing research & development, selling, general & administrative, and advertising expenses are likely to have affected the quarterly performance. Further, higher freight costs and supply chain challenges are expected to get reflected in fourth-quarter results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Garmin this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Garmin has an Earnings ESP of 0.00% and a Zacks Rank #2, at present.
Stocks to Consider
Here are some stocks that you may consider as our model shows that these have the right combination of elements to beat on earnings this season.
NetApp (NTAP - Free Report) has an Earnings ESP of +0.39% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp is scheduled to release third-quarter fiscal 2022 results on Feb 23. The Zacks Consensus Estimate for NTAP’s earnings is pegged at $1.28 per share, suggesting an increase of 16.4% from the prior-year reported figure.
Keysight Technologies (KEYS - Free Report) has an Earnings ESP of +2.17% and a Zacks Rank #2 at present.
Keysight Technologies is set to report first-quarter fiscal 2022 results on Feb 17. The Zacks Consensus Estimate for KEYS’ earnings is pegged at $1.56 per share, which suggests an increase of 9.1% from the prior-year reported figure.
Zscaler (ZS - Free Report) has an Earnings ESP of +2.10% and a Zacks Rank #2 at present.
Zscaler is scheduled to release second-quarter fiscal 2022 results on Feb 24. The Zacks Consensus Estimate for ZS’s earnings is pegged at 11 cents per share, which suggests an increase of 10% from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.