Filing Flows › Garmin (GRMN) › Q3 2026
Garmin (GRMN) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
Garmin (GRMN) reported revenue of $2.0B for the third quarter 2026 (Q3 2026), +12% from a year earlier and -2% from the quarter before. Operating margin was 30.8%, net earnings $542M (27.3% of revenue).
Garmin, Q3 2026: revenue $2.0B (+12% year over year), operating margin 30.8%, net earnings $542M, operating cash flow $394M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | -2% | +12% |
| Gross profit | $1.3B | -0.3% | +20% |
| Operating profit | $612M | -0.6% | +34% |
| Net earnings | $542M | 0% | +35% |
| Operating cash flow | $394M | -2% | -19% |
| Free cash flow | $293M | — | -31% |
What changed
Revenue was $2.0B in Q3 2026, up 12% year over year and down 2% from the previous quarter. Fitness Segment was the largest line at 35% of revenue. Outdoor Segment added $0.10B year over year (up 20%), 46% of the total change. Auto Oem Segment declined 20%.
Gross margin was 63.3%, up 4.2 points from Q3 2025. Operating profit was $0.61B, a 30.8% margin (up 5.0 points year over year). Of the extra revenue versus Q3 2025, 72% reached operating profit, above the 26% margin then. Operating expenses grew 10% against revenue growth of 12%. Net earnings were $0.54B, up 35% year over year. The effective tax rate was 18.1%.
Operating cash flow was $0.39B (down 19% year over year), 73% of net earnings. Non-cash charges added back $0.04B of depreciation and $0.04B of share-based compensation. Working capital and other items used $0.23B. After purchases of property and equipment ($0.10B), free cash flow as the company reports it was $0.29B.
Questions
What was Garmin's revenue in the third quarter 2026?
Garmin (GRMN) reported revenue of $2.0B for the third quarter 2026 (Q3 2026), +12% from a year earlier and -2% from the quarter before.
Was Garmin profitable in the third quarter 2026?
Operating profit was $612M (30.8% of revenue) and net earnings $542M.
Source: Garmin 10-Q on SEC EDGAR.