-=Garmin (GRMN) reported earnings on Wed 20 Feb 2019 (b/o)

Garmin beats by $0.22, beats on revs; guides FY19 EPS above consensus, revs above consensus

• Reports Q4 (Dec) earnings of $1.02 per share, $0.22 better than the S&P Capital IQ Consensus of $0.80; revenues rose 3.9% year/year to $932.11 mln vs the $893.14 mln S&P Capital IQ Consensus.
  • Gross margin improved to 58.9% from 56.1% one year ago while operating margin improved to 23.9% from 20.4% one year ago
• Co issues upside guidance for FY19, sees EPS of $3.70 vs. $3.52 S&P Capital IQ Consensus; sees FY19 revs of $3.50 bln vs. $3.43 bln S&P Capital IQ Consensus.
  • Gross margin expected around 59.5% and operating margin expected around 22.7%