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Jordan Linays

Research Analyst at Bank of America Corporation

Jordan Linays's questions to GARMIN (GRMN) leadership

Question · Q3 2025

Jordan Linays asked about the growth outlook for the Auto OEM segment into next year, considering retiring legacy programs and the anticipated start of 2027 contracts. He also sought more detail on the greater driver of growth in the Aviation segment, distinguishing between OEM and aftermarket contributions.

Answer

President and CEO Cliff Pemble explained that the Auto OEM segment could experience revenue pressure in 2026 as legacy programs wind down, with the new large program expected to come online in the back half of 2026. For Aviation, he noted that both OEM and aftermarket contributions were comparable and strong, with OEM benefiting from a long backlog and aftermarket from resilient consumer behavior.

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