GRMN Q1 2023 Earnings — Garmin Ltd. Revenue & Financial Results | Market Cap Arena

GRMNGarmin Ltd.

$46B

Q1 2023 Earnings

Technology Hardware, Equipment & Parts

Income Statement

Revenue

$1.1B-2.2% YoY

Gross Profit

$653M56.9% margin

Operating Income

$197M17.2% margin

Net Income

$202M17.6% margin

EPS (Diluted)

$1.05

QoQ Revenue Growth

-12.2%

Cash Flow

Operating Cash Flow

$279M

Free Cash Flow

$232M

Stock-Based Comp.

$21M

Balance Sheet

Total Assets

$7.7B

Total Liabilities

$1.3B

Stockholders' Equity

$6.4B

Cash & Equivalents

$1.4B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.1B	$1.2B	-2.2%
Gross Profit	$653M	$662M	-1.5%
Operating Income	$197M	$229M	-13.8%
Net Income	$202M	$212M	-4.4%

Revenue Segments

Outdoor

$329M29%

Marine Segment

$279M24%

Fitness

$245M21%

Aviation

$214M19%

Automotive Mobile

$81M7%

Geographic Segments

Americas

$612M53%

EMEA

$356M31%

Asia Pacific

$180M16%