Core Insights - Trimble Inc. reported record annualized recurring revenue (ARR) of $2.11 billion, reflecting a 12% year-over-year increase and a 14% increase on an organic basis, indicating successful execution of its Connect & Scale strategy [2][3] - The company achieved a record gross margin of 62.7% in the second quarter of 2024, demonstrating ongoing business transformation and a favorable mix shift [2][3] - Trimble raised its full-year guidance for revenue and earnings per share, expecting revenue between $3.59 billion and $3.67 billion and GAAP earnings per share of $6.41 to $6.54 [4][5] Financial Performance - Total revenue for the second quarter of 2024 was $870.8 million, down 12% year-over-year but up 1% on an organic basis [2] - GAAP operating income was $61.6 million, representing 7.1% of revenue, while non-GAAP operating income was $194.4 million, or 22.3% of revenue [2] - GAAP net income reached $1,316.4 million, with diluted earnings per share (EPS) of $5.34 on a GAAP basis and $0.62 on a non-GAAP basis [2][20] Segment Performance - In the second quarter of 2024, segment revenues were as follows: AECO $299.7 million, Field Systems $379.3 million, and T&L $191.8 million [13] - Segment operating income percentages were 26.4% for AECO, 28.9% for Field Systems, and 18.7% for T&L, indicating varying levels of profitability across segments [13] Guidance and Future Outlook - For the third quarter of 2024, Trimble expects revenue between $840 million and $880 million, with GAAP EPS projected between $0.28 and $0.34 [5] - The full-year 2024 guidance reflects the impact of the joint venture with AGCO, which closed at the beginning of the second quarter [6] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of the second quarter of 2024 were $944.1 million, significantly up from $229.8 million at the end of 2023 [10] - Total assets increased to $9,597.8 million, while total liabilities decreased to $3,964.4 million, indicating improved financial health [10][12]

Wall Street analysts expect Trimble Navigation (TRMB) to post quarterly earnings of $0.57 per share in its upcoming report, which indicates a year-over-year decline of 10.9%. Revenues are expected to be $860.83 million, down 13.4% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Before a company announces its earnings, it is ...

About Trimble FTRMB WESTMINSTER, Colo., July 24, 2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) will hold a conference call on Tuesday, August 6, 2024 at 8 a.m. ET to review its second quarter 2024 results. The call will be broadcast live on the web at http://investor.trimble.com. Investors without internet access may dial into the call at (888) 660-6347 (U.S.) or (929) 201-6594 (international). The conference ID is 1043223. Trimble is transforming the ways people move, build and live. Core technologies in pos ...

Core Insights - Trimble and Esri have extended their strategic partnership to enhance collaboration in GIS software, location intelligence, and mapping, aiming to optimize processes and automate workflows for greener infrastructure planning and operations [1][2][4] Company Developments - Trimble has become a Platinum partner in the Esri Partner Network, focusing on solution interoperability and deeper technology integration to leverage innovations in geospatial technologies and AI [3][4] - In June 2024, Trimble launched Trimble Unity, an asset lifecycle management suite that integrates Esri's GIS innovations into construction project management and capital planning [4] Technological Advancements - The partnership emphasizes the exploration of emerging technologies, particularly in industry data models that support generative AI technologies and workflows [5] - Trimble's geospatial field systems enhance workflow support in Esri ArcGIS Indoors and the ArcGIS Utility Network, providing high-accuracy location intelligence and 3D datasets [5] Humanitarian Efforts - The collaboration with The HALO Trust aims to improve landmine detection and removal using Trimble's mapping technology combined with Esri's ArcGIS software, contributing to community safety [6]

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WESTMINSTER, Colo., June 28, 2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) today announced a new asset lifecycle management software suite called Trimble Unity. This suite enables owners of capital projects and public infrastructure to efficiently plan, design, build, operate and maintain their assets using centralized data and connected digital workflows. Combining Trimble's best-of-breed point solutions for capital program and asset management, Trimble Unity unifies and extends its existing offerings to pro ...

"Trimble and TMC are aligned in a shared vision – to create a safer, more efficient transportation industry by combining best-in-class fleet performance with best-in-class technology," said Paul Cardosi, sector vice president of telematics & fleet management for Trimble. "Instinct and Video Intelligence will help TMC realize this vision, providing an upgraded fleet management experience that seamlessly connects their office personnel and drivers." To learn more about Trimble's fleet management solutions, in ...

New system levels up with seamless connectivity, market-leading technology and total confidence in a fullyintegrated, easy-to-use solution WESTMINSTER, Colo., June 19, 2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) has introduced the Trimble R980 GNSS system, the newest addition to its Global Navigation Satellite System (GNSS) receiver portfolio. Building upon premium features available on Trimble's latest receiver models, including the Trimble ProPoint® positioning engine, the new R980 adds several new elemen ...

WESTMINSTER, Colo., May 17, 2024 /PRNewswire/ -- Trimble Inc. (NASDAQ: TRMB) (the "Company") today announced that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") on May 16, 2024 (the "Notice"). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") as a result of its failure to timely file its Quarterly Report on Form 10-Q for the period ended March 29, 2024 (t ...

This stock declined after earnings, but it probably has nothing to do with its fundamentals. Cathie Wood is a fan of workflow technology company Trimble (TRMB -0.74%), a top 10 holding in her ARK Autonomous Technology & Robotics exchange-traded fund (ETF) and her ARK Space Exploration & Innovation ETF. Wood, a growth-focused investor, has good reason to like it because Trimble's combination of growth prospects in the construction, infrastructure, and agricultural industries and its transformational workflow ...