Garmin's first quarter 2026 revenue grew 14% to $1.75B, beating estimates as Fitness sales surged 42%.

Garmin reported record first quarter 2026 revenue of approximately $1.75 billion, a 14% increase year-over-year, with pro forma EPS of $2.08, up 29% from the prior year. Both revenue and earnings significantly surpassed analyst expectations.

Key Highlights

• The Fitness segment was the primary growth driver, with revenue increasing 42% year-over-year to $546.8 million, far exceeding analyst growth expectations of approximately 24%.
• Consolidated operating margin expanded to 24.6% from 21.7% in the prior year, driven by a higher gross margin of 59.4%, countering pre-earnings concerns about potential margin compression.
• Strong growth was also delivered by the Aviation (+18%) and Marine (+11%) segments, which helped offset a 5% decline in the Outdoor segment against a tough prior-year launch comparison.