Why Garmin Stock Is Racing Higher Today
GPS device maker Garmin (NYSE: GRMN) has been a real winner for investors. After another stellar earnings report today, the stock has nearly doubled in the last 12 months. The fourth-quarter results along with management's 2025 guidance have shares soaring again today.
Garmin stock was trading up by 12.6% as of 11:30 a.m. ET, near the morning's highs.
It was a strong fourth quarter by every measure, and it closed out a year with results overachieving even the company's internal guidance. Garmin's management has a history of fairly conservative guidance, but 2024 full-year revenue of $6.3 billion -- a 20% increase versus 2023 -- dwarfed the $5.75 billion management initially predicted in early 2024. It was also impressively above the $6.12 estimate the company provided as recently as the third-quarter report.
Source Fool.com
