Garmin’s Third Quarter Results Showcase Increased Marine Revenue
Garmin’s results for the company’s third quarter ending in September of 2026 showed a record consolidated revenue of $1.99 billion. This is a 12% increase compared to the prior year quarter.
“We achieved another quarter of record operating results driven by strength across markets and product categories, with meaningful contributions from recently launched products,” Cliff Pemble, President and CEO of Garmin Ltd., said in a news release. “Our results were further enhanced by strong operational execution resulting in record consolidated gross margin and impressive operating profit leverage. We are raising our 2026 outlook based on the results we have achieved so far and the momentum we are experiencing as we enter the important holiday selling season.”
In Garmin’s marine segment, revenue increased 16% in the third quarter, with broad-based growth across multiple categories, led by the sonar product category. Gross and operating margins were 64% and 30%, respectively, resulting in $94 million of operating income.
During the quarter, Garmin launched the next generation LiveScopeTM 2, delivering live sonar images with improved range and clarity. Also during the quarter, the company expanded its sailboat product lineup with the GMITM 40 instrument display and the SmartDrive™ brushless linear steering actuator. They also launched the JL Audio A60 head unit series, and M200 speaker systems.
