Filing Flows › Garmin (GRMN) › Q3 2026 › vs Q2 2026
Garmin (GRMN) Q3 2026 vs Q2 2026 (quarter over quarter)
Garmin's revenue fell $36.0M (-2%) from $2.0B in Q2 2026 to $2.0B in Q3 2026. The biggest changes: Outdoor Segment +$115M (+24%); Fitness Segment −$62.5M (-8%); Auto Oem Segment −$40.5M (-23%). Gross margin 63.3% against 62.4% (+0.9 pts).
Garmin, Q3 2026: revenue $2.0B (+12% year over year), operating margin 30.8%, net earnings $542M, operating cash flow $394M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 63.3% | 62.4% | +0.9 pts |
| Operating margin | 30.8% | 30.4% | +0.4 pts |
| Net margin | 27.3% | 26.8% | +0.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Fitness Segment | $694M | $757M | −$62.5M | -8% |
| Outdoor Segment | $597M | $483M | $115M | +24% |
| Marine Segment | $310M | $341M | −$31.5M | -9% |
| Aviation Segment | $253M | $269M | −$16.1M | -6% |
| Auto Oem Segment | $132M | $172M | −$40.5M | -23% |
| Revenue | $2.0B | $2.0B | −$36.0M | -2% |
| Gross profit | $1.3B | $1.3B | −$4.3M | -0.3% |
| Cost of revenue | $728M | $760M | −$31.8M | -4% |
| Other income, net | $49.5M | $35.6M | $13.9M | +39% |
| Operating profit | $612M | $616M | −$3.9M | -0.6% |
| Operating expenses | $646M | $647M | −$394K | -0.1% |
| Pre-tax earnings | $661M | $651M | $10.1M | +2% |
| Research & development | $313M | $304M | $9.0M | +3% |
| SG&A | $333M | $343M | −$9.4M | -3% |
| Net earnings | $542M | $542M | −$260K | 0% |
| Income tax | $119M | $109M | $10.3M | +9% |
| Depreciation | $41.2M | $40.9M | $397K | +1% |
| Share-based compensation | $44.7M | $45.5M | −$737K | -2% |
| Working capital & other | $234M | $225M | $9.1M | +4% |
| Operating cash flow | $394M | $404M | −$9.7M | -2% |
Questions
How much did Garmin's revenue grow quarter over quarter in Q3 2026?
Garmin's revenue fell $36.0M (-2%) from $2.0B in Q2 2026 to $2.0B in Q3 2026.
What drove Garmin's revenue change in Q3 2026?
Outdoor Segment +$115M (+24%); Fitness Segment −$62.5M (-8%); Auto Oem Segment −$40.5M (-23%).