Garmin reports record Q3 revenue of $1.99 billion, with no wearables breakdown
Garmin reported record third-quarter revenue of $1.99 billion on Oct. 28, up 12%. The release does not break out wearables, so it says nothing direct about how its watches sold.
Garmin said on Oct. 28 that it earned record revenue of $1.99 billion in the third quarter of 2026, a 12% increase from the same quarter a year earlier. The quarter ended Sept. 26. The company's release is headlined "Company reports record third quarter operating results and raises full year guidance."
For people who care about the watches, the key point is what the release leaves out: it gives no separate figures for fitness, outdoor or wearables. Garmin has not said in this release what its watches sold or earned, so the results cannot show how wearables did. We are not estimating a split.
The numbers Garmin did publish
All of these come from the release:
- Revenue: a record $1.99 billion, up 12% from the prior-year quarter.
- Margins: gross margin of 63.3% and operating margin of 30.8%. Garmin says both expanded compared with the prior-year quarter.
- Operating income: a record $612 million, up 34%.
- Earnings per share: GAAP EPS of $2.80 and pro forma EPS of $2.76, a 39% increase in pro forma EPS.
The release also says Garmin raised its full-year guidance. The page text does not include the new guidance figures. The release page points readers to a PDF for the full press release and financial results, and we could not confirm what is in it, so any segment detail would have to come from there.
What the release says about watches
The one watch item is a launch. Garmin says it "launched the fēnix 9 and fēnix 9 Pro adventure watch series, expanding our flagship performance smartwatch lineup." The release gives no unit sales, no revenue for the new watches and no prices, availability or dates by country, and it does not say whether the launch counted toward third-quarter revenue.
The other highlights Garmin lists are outside wearables. It delivered its 1,000th G1000 integrated flight deck retrofit for King Air aircraft, says more than 2,500 aircraft are equipped with Garmin Autoland, and was named 2026 Manufacturer of the Year by the National Marine Electronics Association for the 12th consecutive year.
What it means if you are buying a watch
The release gives no watch prices. The fēnix 9 and fēnix 9 Pro are the watches it names, and our Apple Watch Ultra 4 vs Garmin Fenix 9 comparison covers the practical side. In that piece, the Fenix 9 starts at $999.99 and the titanium Fenix 9 Pro at $1,099.99, and Garmin rates the 51 mm Fenix 9 for up to 29 days in smartwatch mode. The Apple Watch Ultra 4 costs $799 and is rated for up to 50 hours. Those are US prices, as listed in that comparison.
If you already own a Garmin watch, nothing in the release points to a change for you. If you are deciding between the two brands, the comparison is a better guide than the earnings numbers.
What we still don't know
- How much of the $1.99 billion came from fitness, outdoor or wearables.
- The new full-year guidance figures.
- How many fēnix 9 or any other watches Garmin sold.
- Prices and availability of the fēnix 9 series outside the US.
We will update this page if Garmin publishes segment figures for the quarter.
Sources
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