Trimble Inc

Latest Results (07.08.2024):

Revenue Performance

Trimble Inc. reported revenue of $870.8 million for the second quarter of 2024, which represents a 12 percent decrease on a year-over-year basis. However, on an organic basis, revenue saw a slight increase of 1 percent. This performance highlights the company's resilience and ability to maintain growth despite broader market challenges.

Annualized Recurring Revenue

Trimble Inc.'s annualized recurring revenue (ARR) reached a record $2.11 billion in the second quarter of 2024. This marks a 12 percent increase year-over-year and a 14 percent increase on an organic basis. The growth in ARR underscores the success of Trimble's Connect & Scale strategy, which focuses on long-term, sustainable revenue streams.

Operating Income

For the second quarter of 2024, Trimble Inc. reported a GAAP operating income of $61.6 million, which is 7.1 percent of revenue. On a non-GAAP basis, operating income was significantly higher at $194.4 million, representing 22.3 percent of revenue. These figures reflect the company's effective cost management and operational efficiency.

Net Income and Earnings Per Share

Trimble Inc. achieved a GAAP net income of $1,316.4 million for the second quarter of 2024. On a non-GAAP basis, net income was $151.9 million. The diluted earnings per share (EPS) were $5.34 on a GAAP basis and $0.62 on a non-GAAP basis, indicating strong profitability and shareholder value.

Forward-Looking Guidance

Trimble Inc. has raised its full-year 2024 guidance, now expecting to report revenue between $3,590 million and $3,670 million. The company also anticipates GAAP earnings per share to be in the range of $6.41 to $6.54, and non-GAAP earnings per share to be between $2.67 and $2.81. This optimistic outlook reflects confidence in continued growth and operational success.