Core Insights - Trimble (TRMB) reported first-quarter 2025 non-GAAP earnings of 61 cents per share, exceeding the Zacks Consensus Estimate by 3.39%, although this represents a 4.7% decline year over year [1] - Total revenues for the quarter were $840.6 million, surpassing the Zacks Consensus Estimate by 4.11%, but down 11.8% year over year, with a 2% increase on an organic basis [1] Revenue Breakdown - Product revenues accounted for 32.3% of total revenues, totaling $271.6 million, a decrease of 26% year over year [2] - Subscription and services revenues, making up 67.7% of total revenues, fell 2.9% year over year to $569 million [2] - The AECO segment generated revenues of $335.4 million, representing 39.9% of total revenues, down 1.1% year over year [3] - Field Systems revenues, which comprised 42.7% of total revenues, were $359.2 million, declining 14.3% year over year [4] - Transportation and Logistics revenues, accounting for 17.4% of total revenues, were $146 million, down 25.1% year over year [5] Annualized Recurring Revenue (ARR) - Trimble achieved annualized recurring revenues (ARR) of $2.18 billion, reflecting a 7% year-over-year increase, with a 15% increase on an organic basis [2] - The AECO segment experienced 19% ARR growth, driven by strong bookings and cross-selling initiatives [4] - Field Systems segment ARR grew by 25%, supported by demand in Civil Construction and Geospatial subscription offerings [4] - Transportation and Logistics segment saw 7% ARR growth, primarily from Maps and Transporeon performance [5] Profitability Metrics - Non-GAAP gross margin for the quarter was 69.2%, an increase of 340 basis points year over year [5] - Non-GAAP operating expenses represented 45.6% of total revenues, up 440 basis points year over year [5] - Non-GAAP operating margin was 23.6%, a contraction of 100 basis points year over year [5] Balance Sheet and Cash Flow - At the end of Q1 2025, cash and cash equivalents were $290 million, down from $738.8 million at the end of Q4 2024 [6] - Total debt remained unchanged at $1.39 billion [6] - Cash generated by operating activities was $155.6 million, compared to $115.1 million in the previous quarter [6] - Free cash flow increased to $149 million from $109 million in the previous quarter [7] Guidance - For Q2 2025, Trimble expects reported and adjusted revenues between $815 million and $845 million [9] - Non-GAAP operating margin is anticipated to be between 23.5% and 24.5% [9] - For the full year 2025, revenues are projected between $3.37 billion and $3.47 billion on a reported basis, with adjusted revenues between $3.35 billion and $3.45 billion [10] - ARR is expected to grow 12-14% organically on a reported basis and 13-15% on an adjusted basis [10] - Non-GAAP earnings for 2025 are forecasted to be between $2.76 and $2.98 per share on a reported basis [10]

Core Insights - Trimble Navigation (TRMB) reported revenue of $840.6 million for the quarter ended March 2025, reflecting a year-over-year decline of 11.8% and an EPS of $0.61 compared to $0.64 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $807.38 million by 4.11%, and the EPS also surpassed the consensus estimate of $0.59 by 3.39% [1] Financial Performance - Trimble's shares have returned +14.9% over the past month, outperforming the Zacks S&P 500 composite's +10.6% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [3] - Segment revenue for AECO was $335.40 million, slightly below the average estimate of $338.69 million; Field Systems revenue was $359.20 million, exceeding the estimate of $333.85 million; T&L segment revenue was $146 million, surpassing the estimate of $133.88 million [4] - Segment operating income for AECO was $91.60 million, below the estimate of $108.79 million; T&L segment operating income was $26.10 million, below the estimate of $29.04 million; Field Systems operating income was $106.60 million, exceeding the estimate of $89.39 million [4]

Core Viewpoint - Trimble Navigation (TRMB) reported quarterly earnings of $0.61 per share, exceeding the Zacks Consensus Estimate of $0.59 per share, but down from $0.64 per share a year ago, indicating a 3.39% earnings surprise [1] Financial Performance - The company achieved revenues of $840.6 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 4.11%, although this is a decrease from $953.3 million in the same quarter last year [2] - Over the last four quarters, Trimble has consistently exceeded consensus EPS estimates and revenue estimates [2] Stock Performance - Trimble shares have declined approximately 10.4% since the beginning of the year, compared to a 4.7% decline in the S&P 500 [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.61 on revenues of $823.21 million, and for the current fiscal year, it is $2.89 on revenues of $3.42 billion [7] - The trend of earnings estimate revisions for Trimble is mixed, which may change following the recent earnings report [6] Industry Context - The Manufacturing - General Industrial industry, to which Trimble belongs, is currently ranked in the bottom 37% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $841 million, up 3% organically and up 10% after adjusting for the timing of January 1 term license revenue [5][22] - Annual Recurring Revenue (ARR) reached $2.11 billion, up 17% organically, exceeding expectations across segments [5][22] - Earnings per share (EPS) was reported at $0.61, also ahead of expectations [5][22] - Gross margins expanded by 180 basis points to 69.9%, and EBITDA margins increased by 100 basis points year over year to 25.9% [22] Business Line Data and Key Metrics Changes - AECO segment delivered a record ARR of $1.29 billion, with 19% growth for the quarter [24] - Field Systems revenue was up 6%, with ARR growth of 25%, driven by strong performance in civil construction and subscription offerings [25] - Transportation and Logistics segment saw revenue and ARR both increase by 67%, with over 90% of revenue now recurring following divestitures [26] Market Data and Key Metrics Changes - Modest softness was noted in the public sector in the U.S., with slightly longer sales cycles for enterprise customers [11] - Strength was observed in small to mid-sized construction companies and sectors such as data centers, renewables, and mining [12] - In Europe, the automotive segment is down, while retail and construction materials are up, indicating varied market health [17] Company Strategy and Development Direction - The company is focused on AI integration to enhance customer service and operational efficiency, with a clear strategy to leverage AI across various functions [6][8] - The leadership emphasizes maintaining a strong competitive position during economic downturns by capitalizing on cross-sell and upsell opportunities [10] - The company aims to continue its transformation towards a software-centric model, with a significant portion of revenue now derived from subscriptions [4][24] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious yet optimistic outlook, maintaining guidance for the year while acknowledging macroeconomic uncertainties [6][28] - The company sees opportunities in the current environment, believing it can outperform weaker competitors during potential downturns [10][11] - There is a focus on capital allocation towards attractive market opportunities, particularly in data centers and infrastructure [20] Other Important Information - The company repurchased $627 million of shares in Q1 2025, with $373 million remaining in authorization [21] - A change in auditors to KPMG was announced for the fiscal year 2025 [19] Q&A Session Summary Question: Performance of Field Systems business relative to peers - Management highlighted the large, underserved market and the strength of their product and dealer channel, contributing to resilience in performance [34][36] Question: Customer sentiment in AECO and project outlook - Management noted steady performance with pockets of strength and weakness, indicating longer sales cycles but no fundamental changes in decision-making [46][48] Question: Impact of tariffs on pricing - Management confirmed a 4% surcharge to offset the $10 million quarterly tariff impact, primarily from Canada and Mexico [58][86] Question: AI potential for customers - Management emphasized the unique data scope Trimble possesses, which positions the company well for AI-driven solutions and customer insights [64][66] Question: Machine control as a service and new business - Management reported over 50% of new customers in the quarter were new logos, indicating successful market expansion through subscription offerings [68][70] Question: Stickiness of software business and churn - Management reported a net retention rate of 110%, with growth in smaller customer segments, indicating resilience in the software business [74][76]

Q1 2025 Financial Performance - As-reported revenue was $841 million, while as-adjusted revenue was $818 million[8] - As-adjusted organic revenue growth was +3%, and +10% excluding the impact of January 1 term license revenue[8,16] - As-reported ARR reached $2,176 million, with as-adjusted ARR at $2,111 million, representing +17% organic growth[8] - Non-GAAP EPS was $061, reaching the high-end of guidance[8] Segment Performance (As-Adjusted) - AECO revenue was $335 million with 0% organic growth, but +17% organic growth excluding January 1 term license revenue; ARR grew +19% organically to $1,294 million[25] - Field Systems revenue was $359 million, with +6% organic growth; ARR grew +25% organically to $358 million[28] - Transportation & Logistics revenue was $123 million, with +5% organic growth, or +6% excluding January 1 term license revenue; ARR grew +7% organically to $459 million[32] FY25 Outlook (As-Adjusted) - The company maintains full-year revenue guidance of $335 billion to $345 billion, representing +45% to +75% total growth and +40% to +70% organic growth[36] - Annualized Recurring Revenue (ARR) is projected to grow +13% to +15% organically[36] - Non-GAAP operating margin is expected to be between 263% and 273%, with Adjusted EBITDA margin between 278% and 288%[36]

Revenue Performance - Trimble reported record annualized recurring revenue of $2.18 billion, up 7% year-over-year and 15% on an organic basis[9]. - Total revenue for Q1 2025 was $840.6 million, down 12% year-over-year but up 2% on an organic basis[9]. - Segment revenue for AECO in Q1 2025 was $335.4 million, a decrease of 1.1% from $339.1 million in Q1 2024[19]. - GAAP revenue for Q1 2025 was $840.6 million, down 11.8% from $953.3 million in Q1 2024[21]. - Non-GAAP gross margin for Q1 2025 was $581.7 million, representing 69.2% of revenue, compared to $627.1 million or 65.8% in Q1 2024[21]. - Organic Revenue also excludes foreign currency translation and acquisitions/divestitures from the prior 12 months, focusing on the company's core revenue performance[39]. Income and Earnings - GAAP net income for Q1 2025 was $66.7 million, with diluted earnings per share of $0.27[9]. - Non-GAAP net income for Q1 2025 was $151.4 million, with diluted earnings per share of $0.61[9]. - GAAP operating income for Q1 2025 was $97.5 million, representing 11.6% of revenue[9]. - Non-GAAP operating income for Q1 2025 was $198.2 million, representing 23.6% of revenue[9]. - GAAP operating income for Q1 2025 was $97.5 million, slightly down from $109.2 million in Q1 2024, maintaining an operating income margin of 11.6%[22]. - Non-GAAP operating income for Q1 2025 was $198.2 million, accounting for 23.6% of revenue, compared to $234.4 million or 24.6% in Q1 2024[22]. - GAAP net income for Q1 2025 was $66.7 million, an increase from $57.2 million in Q1 2024[22]. - Non-GAAP net income for Q1 2025 was $151.4 million, slightly down from $159.1 million in Q1 2024[22]. - Forecasted GAAP diluted net income per share for Q2 2025 is between $0.26 and $0.32, while the forecasted non-GAAP diluted net income per share is between $0.59 and $0.65[22]. Cash Flow and Guidance - Trimble expects full-year 2025 revenue guidance between $3,370 million and $3,470 million[4]. - For Q2 2025, Trimble anticipates revenue between $815 million and $845 million[5]. - The company maintained its full-year 2025 guidance despite current market uncertainties[4]. - Trimble's cash and cash equivalents decreased to $290.0 million from $738.8 million year-over-year[15]. - Free cash flow for Q1 2025 was $149.0 million, down from $233.8 million in Q1 2024[22]. - Adjusted EBITDA for Q1 2025 was $212.1 million, representing 25.2% of revenue, compared to $250.9 million or 26.3% in Q1 2024[22]. Annualized Recurring Revenue - Trimble's Annualized Recurring Revenue (ARR) is calculated by taking subscription and maintenance revenue for the current quarter, adding the contract value of term licenses, and annualizing it, providing a supplementary indicator of recurring revenue value[36]. - Organic Annualized Recurring Revenue excludes the impacts of foreign currency translation and acquisitions/divestitures closed in the prior 12 months, offering a clearer view of underlying revenue growth[38].

Core Viewpoint - Trimble Inc. reported strong financial results for Q1 2025, achieving record annualized recurring revenue of $2.18 billion, while maintaining its full-year guidance despite market uncertainties [3][8]. Financial Highlights - Q1 2025 total revenue was $840.6 million, a decrease of 12% year-over-year but an increase of 2% on an organic basis [8]. - GAAP operating income was $97.5 million, representing 11.6% of revenue, while non-GAAP operating income was $198.2 million, or 23.6% of revenue [8][10]. - GAAP net income for Q1 2025 was $66.7 million, with diluted earnings per share (EPS) of $0.27; non-GAAP net income was $151.4 million, with non-GAAP diluted EPS of $0.61 [8][11]. - Adjusted EBITDA for Q1 2025 was $212.1 million, accounting for 25.2% of revenue [8][15]. Forward-Looking Guidance - For the full year 2025, Trimble expects revenue between $3,370 million and $3,470 million, with GAAP EPS projected at $1.43 to $1.64 and non-GAAP EPS at $2.76 to $2.98 [3][4]. - For Q2 2025, revenue is anticipated to be between $815 million and $845 million, with GAAP EPS of $0.26 to $0.32 and non-GAAP EPS of $0.59 to $0.65 [4][8]. Business Segments - Trimble's reporting segments for Q1 2025 included AECO with revenue of $335.4 million, Field Systems at $359.2 million, and T&L at $146.0 million [13]. - Operating income percentages for these segments were 27.3% for AECO, 29.7% for Field Systems, and 17.9% for T&L [13]. Cash Flow and Share Repurchase - Net cash provided by operating activities was $155.6 million, with free cash flow at $149.0 million for Q1 2025 [16][27]. - The company executed a share repurchase of $627.4 million during the quarter [8]. Annualized Recurring Revenue - Trimble's annualized recurring revenue (ARR) reached $2.18 billion, reflecting a 7% year-over-year increase and a 15% increase on an organic basis [8][32].

Core Insights - The San Diego County Regional Airport Authority has selected Woolpert to implement the Trimble Unity Maintain™ enterprise asset management system for San Diego International Airport, aimed at streamlining maintenance operations [1][2]. Group 1: Project Overview - Woolpert will provide implementation, configuration, training, maintenance, and technical support services as part of the contract [2]. - The system will leverage the airport's existing GIS data to enhance operational efficiency and asset performance, while also supporting Part 139 Inspection Reporting and Safety Management System best practices [2]. Group 2: Strategic Importance - Woolpert's approach aims to align the project with San Diego International Airport's vision for a centralized and efficient computerized maintenance management system, focusing on optimized GIS, reduction of systems overlap, and effective staff training [3]. - The contract reflects a broader industry trend recognizing the significance of geospatial-based systems as essential asset registries throughout the asset lifecycle [3]. Group 3: Company Background - Woolpert is a leading architecture, engineering, geospatial, and strategic consulting firm, recognized as a Top 100 ENR Global Design firm and has been America's fastest-growing AEG firm since 2015 [4]. - Trimble is a global technology company that integrates the physical and digital worlds, focusing on innovation in precise positioning, modeling, and data analytics across various essential industries [5].

Murphy to Sell and Support Trimble Grade Control, Site Positioning and Correction Services for Deere, Hamm Equipment WESTMINSTER, Colo., May 1, 2025 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) today announced Murphy Tractor & Equipment Co., Inc. as the newest Trimble Technology Outlet. Based in Park City, Kansas, Murphy Tractor is the first John Deere dealer to become an authorized Trimble civil construction reseller. Murphy Tractor Becomes First Trimble Technology Outlet for John Deere Construction Equipme ...

WESTMINSTER, Colo., April 29, 2025 /PRNewswire/ -- Trimble Inc. ("the Company") (Nasdaq: TRMB) announced today that the Audit Committee of its Board of Directors has appointed KPMG LLP as the Company's independent registered public accounting firm, effective as of April 25, 2025, and dismissed Ernst & Young LLP as the Company's independent registered public accounting firm, effective as of April 25, 2025.  About TrimbleTrimble is a global technology company that connects the physical and digital worlds, tra ...