GRMNGarmin Ltd.

$46B

Q2 2023 Earnings

Technology Hardware, Equipment & Parts

Income Statement

Revenue

$1.3B+6.4% YoY

Gross Profit

$759M57.5% margin

Operating Income

$284M21.5% margin

Net Income

$288M21.8% margin

EPS (Diluted)

$1.50

QoQ Revenue Growth

+15.1%

Cash Flow

Operating Cash Flow

$274M

Free Cash Flow

$221M

Stock-Based Comp.

$23M

Balance Sheet

Total Assets

$7.9B

Total Liabilities

$1.7B

Stockholders' Equity

$6.1B

Cash & Equivalents

$1.4B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.3B	$1.2B	+6.4%
Gross Profit	$759M	$729M	+4.2%
Operating Income	$284M	$293M	-2.9%
Net Income	$288M	$258M	+11.7%

Revenue Segments

Outdoor

$448M34%

Fitness

$335M25%

Aviation

$217M16%

Marine Segment

$216M16%

Automotive Mobile

$105M8%

Geographic Segments

Americas

$642M49%

EMEA

$458M35%

Asia Pacific

$221M17%

GRMN Q2 2023 Earnings — Garmin Ltd. Revenue & Financial Results | Market Cap Arena