GRMNNYSESearch, Detection, Navigation, Guidance, Aeronautical Sys

Garmin Ltd (GRMN) earnings date, market-implied expected move, and options open interest by expiry

274.49

+0.20 · +0.07%

post 271.54 −1.07%

Closed15:59 ET

Open274.00Volume1.1MMkt cap$52.9BP/E25.94EPS10.47Div yield1.42%

Day270.70 – 274.5422%52-wk183.64 – 313.0768%

GRMN

Garmin Ltd

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±7.2%implied · report alone

8Q avg ±11.1%·×0.66·cheap

251.77291.11

straddle ±12.2%

spot 271.44exp Feb 19ATM strike 270ATM straddle 38.85IV 33%

Nov 3 closereport share · term structure

Expected move

Inputs

Next report

Feb 17

before open · in 105 days

est.Q4 FY26

Calendar

Next report

Last report

−5.82%

vs ±8.8% implied · ×0.66

shaded = implied · ▲▼ = realized

Oct 28 '26 · confirmed

Implied vs realized

Linked news

5hSWKS · supplierStocks making the biggest moves after hours: Arista Networks, CVS Health, AMD, Super Micro, Skyworks Solutions & more
1dEMBJ · customerEmbraer to supply three KC-390 Millennium with options for three more to Greece
5dTXT · customerTextron posts Q3 net income $270 million, EPS $1.56 on revenues $3,751 million

News

Largest filed tie

13F top-10 QoQ

+2.78%

shares held · 10 largest managers

13F · Jun 30 '26127d lag

1,013 managers

Top fund weight

0.97%

GRMN weight · XLY

N-PORTJun 30 '26

11 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Garmin (GRMN) is expected to report on Feb 17 before open (estimated date). Implied ±7.2%, either direction. 5 of the last 8 reports moved at least as far as the implied move.

Implied vs realized

8 reports

5 of 8≥ implied

avg implied: ±7.9%
avg realized: ±11.1%

Oct 30 '24Oct 30 '24confirmed±7.0%▲+23.25%×3.33

Feb 19 '25Feb 19 '25confirmed±8.1%▲+12.64%×1.57

Jul 30 '25Jul 30 '25confirmed±8.0%▼−7.44%×0.93

Oct 29 '25Oct 29 '25confirmed±7.7%▼−11.48%×1.48

Feb 18 '26Feb 18 '26confirmed±7.7%▲+9.44%×1.22

Q1 FY26Apr 29 '26confirmed±7.9%▲+2.13%×0.27

Q2 FY26Jul 29 '26confirmed±8.0%▲+16.23%×2.02

Q3 FY26Oct 28 '26confirmed±8.8%▼−5.82%×0.66

quarterimplied−25%0+25%realized×

Q3 FY26±8.8%▼−5.82%×0.66

Q2 FY26±8.0%▲+16.23%×2.02

Q1 FY26±7.9%▲+2.13%×0.27

Feb '26±7.7%▲+9.44%×1.22

Oct '25±7.7%▼−11.48%×1.48

Jul '25±8.0%▼−7.44%×0.93

2 older reports

Feb '25±8.1%▲+12.64%×1.57

Oct '24±7.0%▲+23.25%×3.33

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 5 expiries · Oct 27 close

0.83OI · 5 expiries · Oct 27 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

2,266+1%Nov 2016d2.82804+28%2.82

8950%Dec 1844d0.342,5990%0.34

597+3%Jan 1572d0.748090%0.74

report · Feb 17 · before open · est.

530%Feb 19107d640%

440%Apr 16163d1.13390%1.13

ExpiryPutsCallsP/C

Nov 2016d2,266+1%804+28%2.82

Dec 1844d8950%2,5990%0.34

Jan 1572d597+3%8090%0.74

report · Feb 17 · before open · est.

Feb 19107d530%640%0.83

Apr 16163d440%390%1.13

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±12.2%

Funds 4

XLY±0.1%

IGPT±0.1%

FTC±0.1%

RSP±0.0%

Customers 1

TXT±2.7%×0.22

Dashed = straddle · × = co-movement · max 499dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

27.27%as filednet margin · revenue −1.78% QoQ · +12.15% YoY

Revenue

$2.0B−1.78% QoQ

Gross profit

$1.3B−0.34% QoQ

63.33% margin

Operating income

$612M−0.63% QoQ

30.80% margin

Pre-tax income

$661M+1.55% QoQ

Net income

$542M−0.05% QoQ

27.27% margin

Cost of revenue

$728M−4.18% QoQ

Operating expenses

$646M−0.06% QoQ

SG&A $333M

R&D $313M

Tax

$119M+9.46% QoQ

Other income

$49M+39.16% QoQ

Revenue$2.0B−1.78%

Gross profit

$1.3B−0.34%

63.33% margin

Operating income

$612M−0.63%

30.80% margin

Pre-tax income

$661M+1.55%

Net income

$542M−0.05%

27.27% margin

Cost of revenue

$728M−4.18%

Operating expenses

$646M−0.06%

SG&A $333M

R&D $313M

Other income$49M+39.16%

Tax$119M+9.46%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Sep 26 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 3 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 15:45 ET

Intraday

Event sensitivity

FOMC ×2.89· ±3.6% vs ±1.2% · 24 releases

eventrelease day|move|up · n×base

FOMCrate decision±3.6%12 of 24×2.89

CPIconsumer prices±2.0%6 of 10×1.58

GDPgross domestic product±1.8%10 of 19×1.45

PCEpersonal income & outlays±1.5%10 of 19×1.23

PPIproducer prices±1.2%5 of 10×0.93

NFPjobs report±1.0%3 of 10×0.84

CPROFcorporate profits±0.9%8 of 12×0.75

Bar = avg |move| to ±4% · tick = ±1.2% avg day · ×base = |move| ÷ ±1.2% · min 6 releases

Earnings history

EPS 2.80 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 28 '26 · confirmed	2.80	—
Q2 FY26	Jul 29 '26 · confirmed	2.80	—
Q1 FY26	Apr 29 '26 · confirmed	2.09	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod