Here's What to Expect From Garmin's Next Earnings Report

Valued at a market cap of $31 billion, Garmin Ltd. (GRMN) designs, manufactures, and markets a range of wireless devices and is renowned for delivering innovative GPS-enabled technology across diverse markets, including sports and fitness, outdoor recreation, marine, automotive, and aviation. The Schaffhausen, Switzerland-based company is expected to announce its fiscal Q3 earnings results before the market opens on Wednesday, Oct. 30. 

Ahead of this event, analysts expect the tech company to report a profit of $1.46 per share, up nearly 3.6% from $1.41 per share in the year-ago quarter. The company has consistently beaten Wall Street's bottom-line estimates in the last four quarters. In Q2, the company’s adjusted EPS of $1.58 outpaced the consensus estimates by 12.9% and increased by 9% from a year ago. The outperformance was primarily driven by robust growth in revenues from its fitness, marine, and automotive segments.