Inside The Call: Garmin Overcomes Logistics Constraints To Deliver Q3 Above Expectations
Garmin Ltd. raised its guidance for the second consecutive quarter as third-quarter results topped Wall Street targets due to outperformance by its Marine and Aviation segments. CEO Cliff Pemble said, "Our vertically integrated business model and commitment to safety stock was a key factor driving revenue growth for the quarter. But supplies are tight and we expect freight costs to remain elevated as we rush to fill retail shelves in time for the important holiday selling season.”