Garmin Tells Investors Why Profitability Will Fall in 2020
Garmin (NASDAQ: GRMN) is on a roll. The GPS navigation device specialist recently closed out its third consecutive year of surprisingly strong sales growth and record operating margins thanks to a banner performance across its portfolio over the holiday shopping season.
The company predicted another record sales year ahead for 2020. However, in a conference call with investors, CEO Clifford Pemble and his team explained why they're forecasting a growth slowdown and a rare profitability decline in the new fiscal year. Below are some highlights from that presentation.
Image source: Getty Images.
Source Fool.com
