Garmin Ltd. and Subsidiaries
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The Company announced an organization realignment in January 2023, which combined the consumer auto operating segment with the outdoor operating segment. As a result, the Company's operating segments, which also represent our reportable segments, are fitness, outdoor, aviation, marine, and auto OEM. Results for the 13-week and 39-week periods ended September 24, 2022 have been recast below to conform with the current period presentation. This change had no effect on the Company's consolidated results of operations. | ||||||||||||||||||||||||
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| Fitness |
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| Outdoor |
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| Aviation |
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| Marine |
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| Auto
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| Total |
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13-Weeks Ended September 30, 2023 |
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Net sales |
| $ | 352,976 |
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| $ | 433,997 |
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| $ | 198,160 |
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| $ | 182,248 |
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| $ | 110,150 |
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| $ | 1,277,531 |
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Gross profit |
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| 190,685 |
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| 270,774 |
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| 148,364 |
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| 95,186 |
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| 23,560 |
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| 728,569 |
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Operating income (loss) |
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| 74,614 |
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| 136,401 |
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| 49,269 |
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| 23,850 |
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| (13,765) |
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| 270,369 |
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13-Weeks Ended September 24, 2022 |
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Net sales |
| $ | 279,875 |
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| $ | 406,832 |
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| $ | 188,043 |
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| $ | 196,506 |
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| $ | 69,178 |
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| $ | 1,140,434 |
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| Gross profit |
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| 147,716 |
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| 250,412 |
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| 137,732 |
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|
| 110,747 |
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| 23,892 |
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| 670,499 |
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| Operating income (loss) |
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| 40,850 |
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| 122,947 |
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| 48,487 |
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| 44,950 |
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| (17,861) |
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| 239,373 |
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| 39-Weeks Ended September 30, 2023 |
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| Net sales |
| $ | 932,561 |
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| $ | 1,210,773 |
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| $ | 629,195 |
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| $ | 677,026 |
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| $ | 296,196 |
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| $ | 3,745,751 |
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| Gross profit |
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| 484,759 |
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|
| 755,800 |
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|
| 463,774 |
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|
| 365,162 |
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|
| 71,311 |
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|
| 2,140,806 |
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| Operating income (loss) |
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| 139,651 |
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|
| 351,399 |
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|
| 169,730 |
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|
| 142,135 |
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| (51,209) |
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| 751,706 |
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| 39-Weeks Ended September 24, 2022 |
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| Net sales |
| $ | 772,867 |
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| $ | 1,318,810 |
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| $ | 567,548 |
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| $ | 693,369 |
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| $ | 201,337 |
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| $ | 3,553,931 |
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| Gross profit |
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| 387,921 |
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| 819,376 |
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| 413,206 |
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| 376,734 |
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| 64,568 |
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| 2,061,805 |
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| Operating income (loss) |
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| 64,894 |
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| 439,129 |
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| 150,359 |
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| 172,451 |
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| (66,162) |
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| 760,671 |
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Garmin announces third quarter 2023 results
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