Filing Flows › Garmin (GRMN) › Q2 2026
Garmin (GRMN) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Garmin (GRMN) reported revenue of $2.0B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +15% from the quarter before. Operating margin was 30.4%, net earnings $542M (26.8% of revenue).
Garmin, Q2 2026: revenue $2.0B (+11% year over year), operating margin 30.4%, net earnings $542M, operating cash flow $404M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | +15% | +11% |
| Gross profit | $1.3B | +21% | +18% |
| Operating profit | $616M | +43% | +30% |
| Net earnings | $542M | +34% | +35% |
| Operating cash flow | $404M | -25% | +133% |
| Free cash flow | $276M | — | +116% |
What changed
Revenue was $2.0B in Q2 2026, up 11% year over year and up 15% from the previous quarter. Fitness Segment was the largest line at 37% of revenue. Fitness Segment added $0.15B year over year (up 25%), 73% of the total change. Outdoor Segment declined 2%.
Gross margin was 62.4%, up 3.6 points from Q2 2025. Operating profit was $0.62B, a 30.4% margin (up 4.4 points year over year). Of the extra revenue versus Q2 2025, 69% reached operating profit, above the 26% margin then. Operating expenses grew 9% against revenue growth of 11%. Net earnings were $0.54B, up 35% year over year. The effective tax rate was 16.8%.
Operating cash flow was $0.40B (up 133% year over year), 74% of net earnings. Non-cash charges added back $0.04B of depreciation and $0.05B of share-based compensation. Working capital and other items used $0.22B. After purchases of property and equipment ($0.13B), free cash flow as the company reports it was $0.28B.
Questions
What was Garmin's revenue in the second quarter 2026?
Garmin (GRMN) reported revenue of $2.0B for the second quarter 2026 (Q2 2026), +11% from a year earlier and +15% from the quarter before.
Was Garmin profitable in the second quarter 2026?
Operating profit was $616M (30.4% of revenue) and net earnings $542M.
Source: Garmin 10-Q on SEC EDGAR.