From Nasdaq: 2024-07-25 11:58:00

Garmin is set to report its second-quarter 2024 results on Jul 31. Revenues are estimated to be $1.48 billion, up 11.95% from last year. Earnings per share are expected to be $1.45, unchanged from the previous year. The company has beaten earnings estimates in the past four quarters, with an average surprise of 18.89%.

The growth in Garmin’s portfolio is expected to drive revenue in Q2. Strong demand for wearables and wellness products like Forerunner 165 in the fitness segment is promising. Momentum in wearables and services like inReach SOS in the Outdoor segment is also noted. Marine and Aviation segments also show growth potential.

Garmin faces challenges like slow growth in the personal navigation device market and economic uncertainties. Despite this, the company is expected to show strength in various segments. However, an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) raise concerns about its earnings beat potential.

Other companies to watch for earnings include Aspen Aerogels (ASPN), Apple (AAPL), and GoDaddy (GDDY). Aspen Aerogels has an Earnings ESP of +23.53% and a Zacks Rank #1, while Apple and GoDaddy have their respective positive ESP and ranks. Stay updated on upcoming earnings with the Zacks Earnings Calendar.

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Read more at Nasdaq: Garmin (GRMN) to Report Q2 Earnings: What’s in the Cards?