Garmin beats by $0.02, beats on revs; reaffirms FY19 EPS guidance, revs guidance (85.74)
- Reports Q1 (Mar) earnings of $0.73 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.71; revenues rose 7.7% year/year to $766 mln vs the $733.26 mln S&P Capital IQ Consensus, with marine, aviation, fitness and outdoor collectively increasing 12% over the prior year quarter Gross margin of 59.0% compared to 60.0% in the prior year quarter
- Co reaffirms guidance for FY19, sees EPS of $3.70, excluding non-recurring items, vs. $3.75 S&P Capital IQ Consensus; sees FY19 revs of $3.5 bln vs. $3.53 bln S&P Capital IQ Consensus