Garmin Posts First Quarter Earnings
May 1, 2025
Marine segment net sales were down 2% from the prior-year quarter, from $326.74 million to $319.44 million.
Marine segment net sales were down 2% from the prior-year quarter, from $326.74 million to $319.44 million.
The company was presented the award by Independent Boatbuilders Inc., a purchasing cooperative with 15 members.
The company posted record consolidated revenue of $1.59 billion, a 24% increase over the prior-year quarter.
The United Kingdom-based company manufactures a variety of underwater and above-water LED vessel lighting systems.
The marine division had a 26% increase in sales, driven primarily by the acquisition of JL Audio.
Net sales were $1.38 billion, and the company achieved record first-quarter revenue in four segments, including a 17% gain in marine.
Consolidated revenue was a record $5.23 billion with aviation, marine and OEM segments each posting record numbers.
Marine revenue decreased 7% in the quarter, but record revenue was up as much as 59% across four other segments.
The audio solutions company will continue operating at its existing facilities, and the products will be integrated into Garmin’s marine segment.
The company reported consolidated revenue of $1.32 billion in the third quarter, but marine was down 11%.
Marine segment net sales were down 2% from the prior-year quarter, from $326.74 million to $319.44 million.
The company was presented the award by Independent Boatbuilders Inc., a purchasing cooperative with 15 members.
The company posted record consolidated revenue of $1.59 billion, a 24% increase over the prior-year quarter.
The United Kingdom-based company manufactures a variety of underwater and above-water LED vessel lighting systems.
The marine division had a 26% increase in sales, driven primarily by the acquisition of JL Audio.
Net sales were $1.38 billion, and the company achieved record first-quarter revenue in four segments, including a 17% gain in marine.
Consolidated revenue was a record $5.23 billion with aviation, marine and OEM segments each posting record numbers.
Marine revenue decreased 7% in the quarter, but record revenue was up as much as 59% across four other segments.
The audio solutions company will continue operating at its existing facilities, and the products will be integrated into Garmin’s marine segment.
The company reported consolidated revenue of $1.32 billion in the third quarter, but marine was down 11%.
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