How much has Garmin spent on repurchases under its current $500 million program?

Garmin has spent $52 million on buybacks through June 27, 2026, based on the $448 million remaining authorization. The company executed $43 million in repurchases during Q2 2026 alone.

What is the repurchase mechanism and share count reduction?

The filing does not specify the execution mechanism (e.g., Rule 10b-18, 10b5-1 plan, or ASR). The filing reports dollar amounts spent rather than specific share counts repurchased, making precise share-count impact unclear from this earnings disclosure.

How does the buyback compare to Garmin's dividend and capital expenditures?

In Q2 2026, Garmin paid $202 million in dividends (substantially more than the $43 million buyback) and spent approximately $128 million on property and equipment. The company's strong operating cash flow of $404 million supports both activities.

When does the $500 million authorization expire?

The $500 million share repurchase program is authorized through December 2028, providing multi-year flexibility for capital deployment based on market conditions and business opportunities.

What was Garmin's cash position and liquidity during the buyback period?

As of June 27, 2026, Garmin had approximately $4.4 billion in cash and marketable securities and generated $939 million in operating cash flow in the first half of 2026, indicating strong liquidity to support both the repurchase program and other strategic initiatives.

Did any recent acquisitions affect the buyback program?

During Q2 2026, Garmin completed strategic acquisitions of TrainingPeaks and TrainHeroic, which may reflect prioritization of accretive M&A alongside measured repurchase activity. The company maintained the $500 million repurchase authorization while deploying capital for growth.

GRMN 8-K Filed 2026-07-29 Execution disclosure

Garmin repurchased $43M shares in Q2 2026; $448M remains under $500M program

Company executed buyback during strong earnings quarter with record revenue of $2.02B and raised full-year guidance.

Remaining$448M

MechanismNot specified

What the filing says

Garmin Ltd. repurchased $43 million of its common shares in the second quarter of 2026 under its existing $500 million share repurchase program authorized through December 2028. As of June 27, 2026, approximately $448 million remained available under this authorization.

The buyback activity occurred during a period of strong financial performance. Garmin reported record consolidated revenue of $2.02 billion in Q2 2026, up 11% year-over-year, with record operating income of $616 million (30% increase) and GAAP diluted EPS of $2.80. Gross and operating margins expanded to 62.4% and 30.4%, respectively. The company generated operating cash flows of $404 million and free cash flow of $276 million in the quarter.

In addition to share repurchases, Garmin paid $202 million in quarterly dividends and ended the quarter with cash and marketable securities of approximately $4.4 billion. Based on first-half performance, the company raised full-year 2026 guidance to expect revenue of approximately $8.05 billion and pro forma EPS of $10.00, with gross margin of 59.7% and operating margin of 27.0%.

We paid a quarterly dividend of $202 million and repurchased $43 million of the Company's shares within the quarter, leaving approximately $448 million remaining as of June 27, 2026 in the $500 million share repurchase program authorized through December 2028. — GARMIN LTD 8-K filing · View on SEC EDGAR →

What this means

Garmin's Q2 2026 buyback of $43 million represents modest capital deployment compared to the company's strong cash generation and $4.4 billion cash position. The $500 million program authorized through December 2028 provides multi-year flexibility, and the remaining $448 million capacity represents approximately 0.2% of Garmin's market capitalization, giving the company continued room for opportunistic repurchases. The buyback execution occurred alongside dividend payments of $202 million and record operating cash flow of $404 million, reflecting a balanced capital allocation approach prioritizing shareholder returns while maintaining substantial liquidity for acquisitions—notably the recent purchases of TrainingPeaks and TrainHeroic announced during the quarter.

Frequently asked questions

How much has Garmin spent on repurchases under its current $500 million program?: Garmin has spent $52 million on buybacks through June 27, 2026, based on the $448 million remaining authorization. The company executed $43 million in repurchases during Q2 2026 alone.
What is the repurchase mechanism and share count reduction?: The filing does not specify the execution mechanism (e.g., Rule 10b-18, 10b5-1 plan, or ASR). The filing reports dollar amounts spent rather than specific share counts repurchased, making precise share-count impact unclear from this earnings disclosure.
How does the buyback compare to Garmin's dividend and capital expenditures?: In Q2 2026, Garmin paid $202 million in dividends (substantially more than the $43 million buyback) and spent approximately $128 million on property and equipment. The company's strong operating cash flow of $404 million supports both activities.
When does the $500 million authorization expire?: The $500 million share repurchase program is authorized through December 2028, providing multi-year flexibility for capital deployment based on market conditions and business opportunities.
What was Garmin's cash position and liquidity during the buyback period?: As of June 27, 2026, Garmin had approximately $4.4 billion in cash and marketable securities and generated $939 million in operating cash flow in the first half of 2026, indicating strong liquidity to support both the repurchase program and other strategic initiatives.
Did any recent acquisitions affect the buyback program?: During Q2 2026, Garmin completed strategic acquisitions of TrainingPeaks and TrainHeroic, which may reflect prioritization of accretive M&A alongside measured repurchase activity. The company maintained the $500 million repurchase authorization while deploying capital for growth.

execution mega-cap tech-sector strong-cash-generation balanced-capital-allocation

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.