JL Parent Garmin Reports Q3 Earnings

Garmin reported a record third quarter ending September 30, that included a double digit increase in marine audio sales.

Garmin, which owns JL Audio, Clarion and Fusion marine audio brands, said the marine segment grew 22 percent to $222 million for the quarter, with most of  the growth due to the acquisition of JL Audio, which was purchased in September of 2023.

Without JL Audio, marine sales would have increased 7 percent, said the company. (All JL Audio products, including car and home audio, are counted under Garmin’s marine segment).

Garmin recently purchased Lumishore, maker of high performance above and underwater LED lighting systems for boats. It said the lighting may be incorporated into its other marine products.

Garmin overall, with fitness, outdoor, aviation and automotive OEM divisions in addition to marine, reported consolidated revenue of $1.59 billion, up 24 percent, and operating income was $437 million, up 62 percent.

See the full Garmin report here.