Topic: How To Invest

Power Growth Investor Hotline – Friday, July 29, 2022

Article Excerpt

GARMIN LTD., $97.62, is a buy. The company (symbol GRMN on Nasdaq) makes GPS devices and software for five different markets: fitness, outdoors, auto, aviation, and marine. In the three months ended June 25, 2022, Garmin’s overall revenue fell 6.5%, to $1.24 billion from $1.33 billion a year earlier. The drop reflected a strong pandemic year-earlier quarter. As well, the higher U.S. dollar hurt the contribution of its foreign sales. Sales in the marine segment fell 7%. Sales in the fitness segment fell 34%—that reflected the drop in demand for cycling products from the pandemic-driven highs of the prior year. The outdoor segment’s revenue rose 18%, on strong sales of its new lineup of adventure watches. Sales in the auto segment fell—down 6%. Meanwhile, revenue in the aviation segment rebounded 13%, as the pandemic’s effects on aircraft sales and activity eased. Excluding one-time items, the company made $1.44 a share in the quarter. That was down 14.3% from $1.68 a year earlier. The decline…

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