Garmin

Garmin Q3 Call Takeaways: Memory Costs Hit 2027 Margins, Pricing on the Table, Fenix 9 and CIRQA Backlogs

Thu, 29 Oct 2026 · Reported by Garmin Rumors

After Garmin’s record Q3 2026 results , the earnings call is where the real story was — and it is why the stock closed down nearly 6% on a quarter that beat on earnings and raised guidance. CEO Cliff Pemble and CFO Doug Boessen spent most of the hour on memory costs, 2027 margins, fēnix 9 and CIRQA demand, Connect+, and Thailand. The margin warning that sank the stock Q3 gross margin was a record 63.3%, but Garmin was unusually direct about why that number will not last.