GRMN · Garmin Q2 FY2026 earnings call record财报电话会记录

“We experienced robust expansion in consolidated gross and operating margins, the majority of which is attributable to favorable product mix.”

“Operating income increased 30% to $616 million, and pro forma EPS increased 29% to $2.81.”

“Starting with Fitness, revenue increased 25% to $757 million, a new second quarter record driven by growth across all product categories, led by continued strong demand for advanced wearables.”

“Gross margin was 62.4%, 360 basis point increase from the prior year quarter.”

“Operating margin expanded to 30.4%, 440 basis point increase compared to prior year quarter.”

“By geography, we achieved growth in all three regions, led by 13% growth in EMEA, followed by 12% growth in Americas, and 7% growth in APAC.”

“Capital expenditures for second quarter 2026 were $128 million, approximately $82 million higher than the prior quarter.”

“We expect full-year 2026 free cash flow to be at approximately $1.4 billion, with capital expenditures of approximately $550 million.”

“During the second quarter of 2026, we paid dividends of approximately $202 million and purchased $43 million of company stock.”

“Based on our performance during the first half of 2026, our positive outlook for the remainder of the year, we now estimate revenue of approximately $8.05 billion compared to our previous guidance of $7.9 billion.”

“As a result of year-to-date performance, we have increased our gross margin estimate to approximately 59.7%, 120 basis points higher than our previous guidance and is 100 basis points higher than the full-year 2025 gross margin.”

“The synergies we're thinking about in TrainingPeaks and TrainHeroic really has to do with our product line and the ability to offer what I would call a 360-degree experience for our customers, where using our devices, they record information that is then loaded into the training platform.”