Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Increased accessibility through a no-cost option enables all contractors to take advantage of Trimble ProjectSight with a new AI feature that supports greater automation and efficiencyLAS VEGAS, Nov. 11, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) is unveiling a free version of Trimble ProjectSight®, featuring AI and advanced tools that were previously inaccessible to many in the construction industry. This initiative underscores Trimble's strategy to empower contractors of all sizes with connected data an ...

Core Insights - Trimble's SketchUp 3D modeling software has surpassed one million active subscribers, driven by its transition to a subscription model and a focus on delivering value to the architecture, engineering, and construction (AEC) industry [1][2][4] Subscription Model and Accessibility - The subscription offerings, including monthly subscriptions, have lowered the barrier to entry, allowing a larger global audience to access SketchUp [3] - The introduction of innovative features, such as collaboration-centric link-sharing, has enhanced user engagement, with over 650,000 users sharing 1.7 million links and 3.8 million users opening those links [3] Innovative Features and AI Integration - Trimble has introduced new AI features, including SketchUp Diffusion, which has attracted over 200,000 users and generated more than 13 million images since its launch in December 2023 [4] - The 3D Warehouse Image Search function utilizes AI to help users quickly find the right products among millions of pre-built models [4] Ecosystem and User Engagement - SketchUp serves as a foundational tool within Trimble's ecosystem of connected construction solutions, facilitating 3D design and visual storytelling across all project phases [5] - The software is utilized by a diverse range of team members with varying technical skill sets, enhancing collaboration throughout the construction process [5]

Trimble App Xchange and Trimble Marketplace make it easier for contractors and software developers to build new integrations as well as find existing integrations that automatically connect applications and dataLAS VEGAS, Nov. 11, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) today announced enhancements to Trimble App Xchange and launched Trimble Marketplace to expand connections between applications and data across construction workflows. With App Xchange, software developers can build integrations that ca ...

Trimble (TRMB) delivered non-GAAP earnings of 70 cents per share in the third quarter of 2024, surpassing the Zacks Consensus Estimate by 12.9%. The reported figure increased 2.9% year over year.Revenues of $875.8 million beat the Zacks Consensus Estimate by 1.1% but declined 8.5% year over year (3% up on an organic basis).Product revenues (35.1% of total revenues) were $307.6 million, down 30.7% year over year. Subscription and services revenues (64.9% of total revenues) increased 10.7% year over year to $ ...

New donation provides quickly deployable and reliable access to survey-grade precision for hundreds of field workers to work safer and faster while clearing land of extremely dangerous remnants of warWESTMINSTER, Colo., Nov. 7, 2024 /PRNewswire/ -- Trimble (Nasdaq: TRMB) has announced its expanded support for The HALO Trust, the world's largest humanitarian landmine-clearance non-profit organization. Trimble is donating an additional 175 Trimble® Catalyst™ GNSS systems, including Trimble DA2 GNSS receivers, ...

Extends Trimble's all-in-one solution for survey and machine guidance to any compact track loader bucketWESTMINSTER, Colo., Nov. 7, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) announced today the availability of its Trimble Siteworks Machine Guidance Module for compact track loaders. Siteworks Machine Guidance extends the capabilities of Trimble Siteworks Software from surveying and layout to support on-machine guidance and operator assistance, now on compact track loader buckets. This marks the first new ...

Trimble Navigation (TRMB) reported $875.8 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 8.5%. EPS of $0.70 for the same period compares to $0.68 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $866.3 million, representing a surprise of +1.10%. The company delivered an EPS surprise of +12.90%, with the consensus EPS estimate being $0.62.While investors scrutinize revenue and earnings changes year-over-year and how they compare wi ...

Financial Performance - Trimble Navigation reported quarterly earnings of $0.70 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, and showing an increase from $0.68 per share a year ago, resulting in an earnings surprise of 12.90% [1] - The company achieved revenues of $875.8 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.10%, although this represents a decline from year-ago revenues of $957.3 million [2] Stock Performance - Trimble shares have increased approximately 15.8% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $943.87 million, and for the current fiscal year, it is $2.75 on revenues of $3.64 billion [7] Industry Outlook - The Manufacturing - General Industrial industry, to which Trimble belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Trimble's stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

[Financial & Operational Highlights](index=1&type=section&id=Financial%20%26%20Operational%20Highlights) Trimble reported a Q3 2024 revenue decline but achieved organic growth, record recurring revenue, and record gross margin, reflecting strategic transformation Q3 2024 Key Financial Metrics (in millions) | Metric | Value | Change (YoY) | | :--- | :--- | :--- | | Revenue | $875.8 | -9% | | Organic Revenue | N/A | +3% | | Annualized Recurring Revenue (ARR) | $2.19 billion | +13% | | Organic ARR | N/A | +14% | | GAAP Operating Income | $116.4 | -4.0% | | Non-GAAP Operating Income | $224.8 | -10.4% | | GAAP Diluted EPS | $0.16 | -46.7% | | Non-GAAP Diluted EPS | $0.70 | +2.9% | | Adjusted EBITDA | $237.4 | -11.5% | - The company achieved **record annualized recurring revenue (ARR)** and **record gross margin**, demonstrating progress in its business transformation and a favorable mix shift[1](index=1&type=chunk)[3](index=3&type=chunk) - Trimble continues to simplify and focus its business through its Connect & Scale strategy, highlighted by the recently announced divestiture of the Mobility division[1](index=1&type=chunk)[3](index=3&type=chunk) [Business Outlook](index=1&type=section&id=Business%20Outlook) Trimble has raised its full-year 2024 guidance and provided specific revenue and earnings per share targets for the fourth quarter, reflecting the impact of the AGCO joint venture Full-Year 2024 Guidance (in millions) | Metric | Low End | High End | | :--- | :--- | :--- | | Revenue | $3,625 | $3,665 | | GAAP EPS | $6.25 | $6.32 | | Non-GAAP EPS | $2.79 | $2.87 | Fourth Quarter 2024 Guidance (in millions) | Metric | Low End | High End | | :--- | :--- | :--- | | Revenue | $925 | $965 | | GAAP EPS | $0.52 | $0.61 | | Non-GAAP EPS | $0.83 | $0.91 | [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) This section provides the unaudited consolidated financial statements for Q3 and the first nine months of 2024, highlighting revenue trends, divestiture gains, and changes in cash and debt positions [Condensed Consolidated Statements of Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) The income statement highlights a decrease in quarterly revenue and a significant increase in nine-month net income due to divestiture gains Q3 2024 vs Q3 2023 Income Statement Highlights (in millions) | Metric | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | Total Revenue | $875.8 | $957.3 | | Gross Margin | $575.6 | $590.2 | | Operating Income | $116.4 | $121.3 | | Net Income | $40.6 | $74.9 | | Diluted EPS | $0.16 | $0.30 | - The decline in total revenue was driven by a decrease in Product revenue (**$307.6 million** vs **$444.0 million** YoY), which was partially offset by growth in Subscription and services revenue (**$568.2 million** vs **$513.3 million** YoY)[8](index=8&type=chunk) - For the first three quarters of 2024, net income surged to **$1,414.2 million** from **$248.3 million** in the prior year, primarily due to a **$1,695.0 million** net gain on divestitures[8](index=8&type=chunk) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects a substantial improvement in cash position and a significant reduction in total debt compared to year-end 2023 Balance Sheet Highlights (in millions) | Account | Q3 2024 | Year-End 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $1,036.9 | $229.8 | | Total Assets | $9,866.7 | $9,539.3 | | Total Debt (Short & Long-term) | $1,790.2 | $3,066.6 | | Total Liabilities | $3,991.6 | $5,039.2 | | Total Stockholders' Equity | $5,875.1 | $4,500.1 | - The company's cash position significantly improved, while total debt was substantially reduced compared to the end of 2023[9](index=9&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The cash flow statement details cash movements from operating, investing, and financing activities, highlighting the impact of divestiture proceeds and debt repayments Cash Flow Summary - First Three Quarters (in millions) | Activity | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $416.3 | $498.2 | | Net cash provided by (used in) investing activities | $1,860.0 | $(2,064.4) | | Net cash (used in) provided by financing activities | $(1,463.7) | $1,520.7 | - Cash from investing activities was strongly positive in the first nine months of 2024 due to **$1.92 billion** in proceeds from divestitures[10](index=10&type=chunk) - Financing activities used **$1.46 billion** in cash, primarily for payments on debt (**$1.80 billion**) and stock repurchases (**$175.0 million**)[10](index=10&type=chunk) [Segment Performance](index=8&type=section&id=Segment%20Performance) In Q3 2024, AECO and T&L segments reported revenue growth, while the Field Systems segment experienced a significant revenue decline, impacting overall results Q3 Segment Revenue and Operating Income (in millions) | Segment | Revenue Q3 2024 | Revenue Q3 2023 | Operating Income Q3 2024 | Operating Income Q3 2023 | | :--- | :--- | :--- | :--- | :--- | | AECO | $306.0 | $269.6 | $89.0 | $77.8 | | Field Systems | $374.6 | $495.4 | $123.7 | $165.0 | | T&L | $195.2 | $192.3 | $41.0 | $33.6 | - The Field Systems segment saw a substantial decrease in revenue by **24.4%** year-over-year[11](index=11&type=chunk) - The AECO segment demonstrated strong performance with a **13.5%** increase in revenue and a **14.4%** increase in operating income year-over-year[11](index=11&type=chunk) [Reconciliation of GAAP to Non-GAAP Financial Measures](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section details adjustments to derive non-GAAP figures from GAAP, including amortization, stock-based compensation, and acquisition/divestiture items, resulting in adjusted operating income and EPS Q3 2024 GAAP to Non-GAAP Reconciliation Highlights (in millions) | Metric | GAAP | Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | Gross Margin | $575.6 | $24.0 | $599.6 | | Operating Income | $116.4 | $108.4 | $224.8 | | Net Income | $40.6 | $131.3 | $171.9 | Q3 2024 GAAP to Non-GAAP Diluted EPS Reconciliation | Metric | Value | | :--- | :--- | | GAAP Diluted EPS | $0.16 | | Adjustments | $0.54 | | Non-GAAP Diluted EPS | $0.70 | Q3 2024 Adjusted EBITDA Calculation (in millions) | Metric | Value | | :--- | :--- | | GAAP Operating Income | $116.4 | | Non-GAAP Adjustments | $108.4 | | Depreciation & Amortization | $11.8 | | Income from equity investments, net | $0.8 | | **Adjusted EBITDA** | **$237.4** | [Definitions of Non-GAAP Measures and Other Key Metrics](index=12&type=section&id=Definitions%20of%20Non-GAAP%20Measures%20and%20Other%20Key%20Metrics) Trimble defines non-GAAP measures to reflect core operating performance by excluding non-cash and non-recurring items, alongside key metrics like ARR and Organic Revenue for clearer business trends - Non-GAAP measures exclude items such as amortization of purchased intangibles, acquisition/divestiture costs, stock-based compensation, and restructuring costs to better reflect ongoing financial results[16](index=16&type=chunk)[25](index=25&type=chunk) - **Adjusted EBITDA** is defined as non-GAAP operating income plus depreciation, cloud computing amortization, and income from equity method investments, providing a view of operational performance without the impact of capital structure and certain non-cash expenses[24](index=24&type=chunk) - **Annualized Recurring Revenue (ARR)** is a key performance indicator representing the estimated annualized value of current recurring revenue contracts from subscriptions, maintenance, and term licenses[27](index=27&type=chunk) - **Organic Revenue** and **Organic ARR** are metrics that exclude the impacts of foreign currency translation and acquisitions/divestitures from the prior 12 months to show underlying business growth[28](index=28&type=chunk)[29](index=29&type=chunk)