Garmin GRMN Q2 2026: Fitness Surge Drives 22.5% EPS Beat and Raised Guidance
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Garmin's fitness business surged 25% to fuel a 22.5% EPS beat and its fifth consecutive quarter of topping expectations, prompting the company to raise full-year guidance to $10 in pro forma earnings per share. The expansion of its advanced wearables portfolio, bolstered by acquisitions of TrainingPeaks and TrainHeroic, is now visibly moving the needle across the broader organization.
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Garmin reported Q2 2026 pro forma earnings of $2.81 per share, clearing the $2.29 consensus estimate by roughly 22.5% and marking the fifth consecutive quarter the company has topped Wall Street's expectations. Revenue came in at just over $2 billion, beating estimates by about 4.4%. The fitness segment was the standout driver, surging 25% and doing much of the heavy lifting across the broader business.
The results were strong enough for management to raise full-year guidance to $10 in pro forma earnings per share. The acquisitions of TrainingPeaks and TrainHeroic, which expanded Garmin's advanced wearables and training-platform portfolio, are now visibly contributing at the company-wide level rather than sitting on the margins of the business.
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Looking at the recent earnings history, the quarter also stands out for its magnitude. Garmin missed slightly in Q1 2025 and was in line with estimates in Q3 2025, so back-to-back beats of this size — $2.79 reported versus a $2.39 estimate in Q4 2025, followed by $2.81 versus $2.29 in Q2 2026 — suggest the wearables expansion is building consistent momentum heading into the second half of the fiscal year.
Mentioned: GRMN