The company said net sales for the fourth quarter ended December 30, 2023 (13-Weeks) were $1.48 billion, up 13% from the prior-year quarter. Operating income was $340 million, up 27%, and the operating margin was 23.0%.

1. 01

   The company said net sales for the fourth quarter ended December 30, 2023 (13-Weeks) were $1.48 billion, up 13% from the prior-year quarter. Operating income was $340 million, up 27%, and the operating margin was 23.0%.

2. 02

   Garmin said net sales for the fiscal year ended December 30, 2023 (52-Weeks) were $5.23 billion, a record and up 8%. It said GAAP EPS was $6.71 and pro forma EPS was $5.59, up 9%.

3. 03

   The company said it generated operating cash flow of $466 million and free cash flow of $417 million in Q4. It paid a quarterly dividend of about $140 million and repurchased about $19 million of its shares. It ended the quarter with cash and marketable securities of about $3.1 billion.

4. 04

   Garmin expects full-year 2024 revenue of about $5.75 billion, an increase of about 10% over 2023, and pro forma EPS of about $5.40. The Board of Directors intends to recommend a dividend of $3.00 per share to shareholders, and has authorized share repurchases of up to $300 million.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.