Garmin Maintains FY22 Outlook - Update

(RTTNews) - While reporting its financial results for the first quarter on Wednesday, technology company Garmin Ltd. (GRMN) maintained its pro forma earnings and revenue guidance for the full year 2022. For fiscal 2022, the company continues to project pro forma earnings of about $5.90 per share on revenues of about $5.50 billion.

On average, four analysts polled by Thomson Reuters expect the company to report earnings of $6.02 per share on revenues of $5.47 billion for the year. Analysts' estimates typically exclude special items.

Further, the board of directors will recommend to the shareholders for approval at the annual meeting to be held on June 10, 2022 a cash dividend in the total amount of $2.92 per share, payable in four equal quarterly installments.

On April 22, the Board of Directors also authorized the Company to repurchase up to $300 million of the Company's shares through December 29, 2023.