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Garmin Hits $2.02 Billion Revenue — Fitness Becomes The Growth Engine!

Garmin Ltd. reported an 11% increase in consolidated revenue to $2.02 billion for the second quarter of 2026, continuing its trend of improved financial results. The company saw a 30% rise in operating income to $616 million and a 29% increase in pro forma earnings per share, which reached $2.81. These gains were supported by a favorable product mix and a $21 million tariff refund contributing to gross margin expansion. Excluding the tariff refund, gross margins still showed significant improvement, driven by Garmin’s vertically integrated model and execution capabilities. Following this performance, Garmin raised its full-year 2026 guidance, projecting revenue of approximately $8.05 billion and pro forma EPS of $10 per share. Segment performance varied with the fitness division leading with 25% revenue growth to a record $757 million, accompanied by gross and operating margins of 64% and 37%.