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Noah Zatskin

Vice President and Senior Equity Research Analyst at KeyBanc Capital Markets

Noah Zatzkin is a Vice President and Senior Equity Research Analyst at KeyBanc Capital Markets, specializing in Leisure & Performance Brands. He covers companies such as Camping World, Polaris, and Patrick Industries, with a notable buy rating on Camping World. Zatzkin rejoined KeyBanc in 2021, bringing experience from previous roles in private equity and as an Associate Research Analyst at KeyBanc. He holds a Bachelor of Business Administration degree from the University of Michigan and holds Series 7, 63, 86, and 87 industry licenses.

Noah Zatskin's questions to GARMIN (GRMN) leadership

Question · Q3 2025

Noah Zatskin asked if the raised guidance for the marine segment was purely idiosyncratic or reflected an improving end market. He also requested updated thoughts on tariffs.

Answer

Cliff Pemble, President and CEO, confirmed that the marine end market has stabilized and is showing an uptick, particularly in aftermarket, driven by resilient consumers and market share gains across categories like chart plotters and trolling motors. On tariffs, he stated the situation has been mostly stable, with short-term adjustments made, and the company is now focused on longer-term supply chain optimizations.

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