Movement Alert｜Garmin Falls 3.01% in Regular Trading, despite Q3 earnings beat and higher full-year outlook

Market Focus10-28 23:02

On October 28, Garmin fell 3.01% in Regular Trading, trading at $279.46/share, with turnover of $125 million.

The main disclosed catalyst was an earnings-driven update: Garmin reported fiscal third-quarter non-GAAP EPS of $2.76, up from $1.99 a year earlier and above the $2.41 consensus, while net sales rose to $1.99 billion from $1.77 billion, roughly in line with expectations. The company also raised full-year guidance, now projecting non-GAAP EPS of $10.80 versus prior guidance of $10.00 and revenue of about $8.15 billion versus $8.05 billion previously, supported by strong fitness and outdoor wearable demand ahead of the holiday shopping season.

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