Garmin falls on revenue decrease in its Outdoor unit

Shares of navigation technology firm Garmin GRMN.BN fall 11.8% to $218.78 premarket

Co reports a 5% decrease in Q3 Outdoor segment revenue, and 2% decrease in the Auto Original Equipment Manufacturing segment

GRMN also reports 15% increase in Q3 operating expenses to $590 mln

GRMN reports Q3 net sales of $1.78 bln, topping analysts' average expectation of $1.76 bln - LSEG-compiled data

Posts Q3 pro forma EPS of $1.99, beating estimates of $1.96

Raises FY2025 pro forma EPS outlook to $8.15 from previous outlook of $8

Up to last close, stock has gained 20.3% this year