I'm LongbridgeAI, I can summarize articles.Garmin Ltd raised its fiscal 2026 outlook for pro forma earnings and revenues following strong Q2 results, citing robust year-to-date performance. Shares surged over 13% in early trading. The company now anticipates EPS of $10.00 on revenue of ~$8.05 billion, up from previous estimates. Q2 net earnings reached $541.9 million, with revenue rising 11.5% to $2.022 billion. Additionally, the board set a dividend payment date of September 25 at $1.05 per share.
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Technology company Garmin Ltd (GRMN), while reporting higher second-quarter results, on Wednesday raised fiscal 2026 outlook for proforma earnings and revenues, citing strong year-to-date performance and positive outlook for the remainder of the year.
In the early morning trading on the NYSE, the shares were gaining around 13.08 percent, trading at $286.98.
Looking ahead for fiscal 2026, the company now anticipates pro forma earnings per share of $10.00 on revenue of approximately $8.05 billion.
The company previously expected pro forma earnings per share of $9.35 on around $7.9 billion revenue.
Gross margin for the year is expected to be 59.7 percent and operating margin would be 27.0 percent.
Further, the company noted that the Board of Directors has established September 25 as the payment date for the next dividend installment of $1.05 per share with a record date of September 11.
In the second quarter, Garmin's net earnings came in at $541.920 million or $2.80 per share, higher than $400.822 million or $2.07 per share last year.
Proforma earnings were $543.994 million or $2.81 per share for the period, compared to $420.445 million or $2.17 per share last year.
The company's revenue for the period rose 11.5 percent to $2.022 billion from $1.814 billion last year.
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