Garmin beats by $0.58, beats on revs; guides FY20 EPS above consensus, revs above consensus (98.61)
- Reports Q3 (Sep) earnings of $1.58 per share, $0.58 better than the S&P Capital IQ Consensus of $1.00; revenues rose 18.7% year/year to $1.11 bln vs the $0.9 bln S&P Capital IQ Consensus.
- Gross margin and operating margin were 60.2% and 28.6%, respectively.
- Co issues upside guidance for FY20, sees EPS of $4.70 vs. $4.07 S&P Capital IQ Consensus; sees FY20 revs of $4.0 B vs. $3.75 bln S&P Capital IQ Consensus. Sees gross margin of ~59.0%.