Garmin (GRMN) Q4-25 earnings: The Fitness super-cycle & a guidance blackout

Garmin delivers its first $2 billion quarter on a massive wearables boom, but a surprise reduction in transparency spooked the market.In ~10 minutes:*   Fitness revenue jumps 42% YoY vs flat Outdoor sales 🏃*   Why management stopped providing segment-level guidance*   The massive $1.7B inventory bet against memory inflation*   Auto OEM shrinks (-3%) as R&D shifts elsewhere*   A 17% dividend hike and refreshed $500M buybackManagement is running the balance sheet like a bank-hoarding cash and inventory-while smartwatches subsidize a long-term play in automotive. We break down why the stock dropped 5% despite the double-digit beat.Garmin Ltd. (GRMN) | Q4 FY2025AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.