ADI, Moody’s, and Garmin Deliver Earnings Beats and Bullish 2026 Guidance

The recent earnings releases for Analog Devices (ADI), Moody’s Corporation (MCO), and Garmin Ltd. (GRMN) have provided valuable insights into the financial health and strategic direction of these companies. Each has reported strong performances, exceeding market expectations and setting the stage for continued growth.

ADI reported a revenue of $3.16 billion, surpassing expectations by $50 million, while MCO achieved a revenue of $1.89 billion, exceeding expectations by $30 million. GRMN also reported impressive results with a revenue of $2.12 billion, beating expectations by $100 million.

These earnings reports reflect robust performances across various sectors, driven by strategic initiatives and market demand. ADI’s growth was fueled by its industrial and communications segments, while MCO’s results were bolstered by strong performances in its Moody’s Analytics and Moody’s Investors Service segments. GRMN’s success was attributed to its fitness and marine segments, showcasing its ability to innovate and capture market share.

These results not only highlight the companies’ current strengths but also provide a solid foundation for future growth and investment.

Strong Quarter Across the Board as Revenue and EPS Come in Ahead

Analog Devices (ADI) reported a robust performance for the first quarter of fiscal 2026, with revenue of $3.16 billion, surpassing the expected $3.11 billion. The company’s earnings per share (EPS) also exceeded expectations, coming in at $2.46 compared to the anticipated $2.31.

This represents a significant year-over-year revenue growth of 30%, driven by strength in the industrial and communications sectors. ADI’s operating income more than doubled, reflecting a strong operating margin of 31.5%. The company attributed its success to relentless innovation and strategic investments in research and development, positioning itself well for future growth.

Moody’s Corporation (MCO) also delivered impressive results for the fourth quarter of 2025, with revenue reaching $1.89 billion, a 13% increase from the previous year and $30 million above expectations. The company’s EPS of $3.64 beat the expected $3.41, highlighting a 57% year-over-year growth.

MCO’s performance was driven by strong demand for Moody’s Analytics and Moody’s Investors Service, with the latter achieving record issuance levels. The company maintained a disciplined approach to expense management, resulting in an adjusted operating margin of 48.7%.

Garmin Ltd. (GRMN) reported record revenue of $2.12 billion for the fourth quarter, a 17% increase year-over-year, exceeding expectations by $100 million. The company’s EPS of $2.79 surpassed the expected $2.40, reflecting a 16% growth in pro forma EPS.

GRMN’s strong performance was driven by its fitness and marine segments, with the fitness segment experiencing a 42% increase in revenue. The company’s strategic focus on market diversification and superior product offerings played a crucial role in its success, setting the stage for continued growth in 2026.

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2026 Outlook: All Three Companies Forecast More Growth Ahead

Looking ahead, Analog Devices (ADI) has provided optimistic guidance for the second quarter of fiscal 2026, forecasting revenue of $3.5 billion, plus or minus $100 million. The company expects to achieve an adjusted operating margin of approximately 47.5% and an adjusted EPS of $2.88, reflecting confidence in its ability to navigate macroeconomic and geopolitical challenges.

ADI’s strategic investments in innovation and customer experience are expected to drive continued growth and shareholder value.

Moody’s Corporation (MCO) has set its sights on a high-single-digit percent increase in revenue for the full year 2026, with an adjusted operating margin guidance of 52% to 53%. The company anticipates a diluted EPS of $15.00 to $15.60 and an adjusted EPS of $16.40 to $17.00.

MCO’s guidance reflects its strategic initiatives to expand its product offerings and leverage technology investments to enhance operational efficiency. The company remains focused on capturing growth opportunities in the global capital markets.

Garmin Ltd. (GRMN) has provided guidance for the fiscal year 2026, projecting revenue of $7.9 billion, an increase of 9% over 2025. The company expects a pro forma EPS of $9.35, supported by a gross margin of 58.5% and an operating margin of 25.5%.

GRMN’s strategic focus on innovation and market expansion is expected to drive growth across its segments, with new product launches and strategic collaborations enhancing its competitive position. The company’s commitment to shareholder returns is evident in its proposed 17% dividend increase and new $500 million share repurchase program.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.