Garmin Stock Surges to All-Time High on Strong Outlook | Global News Avenue

garmin(Grmn) Stocks soared to an all-time high after the company’s fourth-quarter results and full-year outlook exceeded analysts’ expectations.

Manufacturers of posting navigation and fitness equipment Pro-Forma Earnings Per Share (EPS) $2.41 in the fourth quarter, up 40% from the previous year. Revenue rose 23% to $1.82 billion. Both numbers are higher than the estimates for the visible α assembly.

As sales in Garmin’s Fitness division grew by 31%, its automatic OEM sector grew by 31%, its outdoor sector saw sales reach 30%, its outdoor sector saw sales reach 29%, and its airline growth of 9%, in Its marine sector rose by 5%. Performance brought Garmin’s full-year revenue to a record $6.3 billion.

CEO Cliff Pemble attributed the company’s success to its “strong product lineup” and said Garmin will set “many product launches” in the coming year.

The company said it expects Pro-Forma EPS to be $7.80 in fiscal 2025 and sales to be $6.8 billion, higher than analysts’ forecasts.

Garmin’s shares rose 12% in trading Wednesday afternoon, with stock setting a new intraday record earlier in the meeting at $246.40. The stock has nearly doubled its value over the past 12 months.