Financial Performance - Trimble reported Q4 2024 revenue of $983.4 million, a 5% increase year-over-year, and a 17% increase on an organic basis[9] - GAAP net income for Q4 2024 was $90.2 million, with diluted earnings per share (EPS) of $0.36, while non-GAAP net income was $221.5 million with diluted EPS of $0.89[9] - Net income for 2024 reached $1,504.4 million, a significant increase from $311.3 million in 2023[20] - Total segment revenue for 2024 was $3,683.3 million, up from $3,598.7 million in 2023, representing a growth of approximately 2.4%[22] - GAAP revenue for Q4 2024 was $983.4 million, a 5.4% increase from $932.4 million in Q4 2023[24] - GAAP diluted net income per share for Q4 2024 was $0.36, compared to $0.25 in Q4 2023, reflecting a 44.0% increase[25] Earnings and Margins - The company achieved a record gross margin of 69.3% in Q4 2024, compared to 61.9% in Q4 2023[9] - GAAP operating income for Q4 2024 was $173.5 million, a significant increase from $96.9 million in Q4 2023, reflecting a margin increase from 10.4% to 17.6%[24] - Non-GAAP operating income for the full year 2024 was $937.2 million, or 25.4% of revenue, compared to $934.7 million, or 24.6% in 2023[24] - Non-GAAP operating income for Q4 2024 was $283.6 million, representing 28.8% of revenue, compared to $226.6 million or 24.3% of revenue in Q4 2023[25] Guidance and Future Outlook - For full-year 2025, Trimble expects revenue between $3,370 million and $3,470 million, with GAAP EPS guidance of $1.46 to $1.67 and non-GAAP EPS guidance of $2.76 to $2.98[5] - The mobility divestiture, which closed on February 8, 2025, is reflected in the guidance for both full-year 2025 and Q1 2025[7] - Forecasted GAAP diluted net income per share for Q1 2025 is projected to be between $0.21 and $0.27, while non-GAAP diluted net income per share is expected to be between $0.55 and $0.61[25] Shareholder Returns - Trimble authorized a $1 billion share repurchase program, replacing the existing authorization[8] - The company repurchased approximately 2.9 million shares for $175.0 million during fiscal 2024[10] - The company repurchased $175.0 million in common stock during 2024, compared to $100.0 million in 2023[20] Cash Flow and Financial Health - Cash flow from operating activities for 2024 was $531.4 million, a decrease from $597.1 million in 2023[20] - The company reported a net cash provided by investing activities of $1,861.1 million in 2024, a turnaround from a net cash used of $2,068.1 million in 2023[20] - The company’s cash and cash equivalents at the end of the period increased to $747.8 million from $238.9 million at the beginning of the period[20] - Trimble's total liabilities decreased to $3,743.0 million in 2024 from $5,039.2 million in 2023, indicating improved financial health[18] Segment Performance - Operating income for the AECO segment in 2024 was $463.6 million, with an operating income margin of 34.1%, compared to 29.6% in 2023[22] - The Field Systems segment generated $1,535.9 million in revenue for 2024, down from $1,967.9 million in 2023, indicating a decline of approximately 22%[22] Deferred Revenue and Taxation - Deferred revenue increased to $168.5 million in 2024 from $26.0 million in 2023, indicating a strong growth in future revenue recognition[20] - Cash tax paid for the Ag divestiture in 2024 was $122.0 million, with no tax paid for the previous year[20] Capital Expenditures - Capital expenditures for the year 2024 were $33.6 million, down from $42.0 million in 2023, indicating a reduction of 20.9%[25] Strategic Focus - The company plans to continue focusing on market expansion and new product development to drive future growth[24]

Core Viewpoint - Trimble Inc. reported transformative financial results for fiscal year 2024, highlighting a focus on portfolio simplification and customer delivery, leading to record levels in software revenue, annualized recurring revenue (ARR), gross margin, and profitability [2][10]. Financial Highlights - For Q4 2024, Trimble achieved total revenue of $983.4 million, a 5% increase year-over-year, and a 17% increase on an organic basis [10]. - The company reported annualized recurring revenue (ARR) of $2.26 billion, up 14% year-over-year, also reflecting a 14% organic growth [10]. - GAAP operating income for Q4 2024 was $173.5 million, representing 17.6% of revenue, while non-GAAP operating income was $283.6 million, or 28.8% of revenue [10]. - GAAP net income for Q4 2024 was $90.2 million, with diluted earnings per share (EPS) of $0.36, while non-GAAP net income was $221.5 million, with non-GAAP diluted EPS of $0.89 [10][11]. Forward-Looking Guidance - For full-year 2025, Trimble expects revenue between $3,370 million and $3,470 million, with GAAP EPS projected between $1.46 and $1.67, and non-GAAP EPS between $2.76 and $2.98 [3][4]. - For Q1 2025, revenue is anticipated to be between $794 million and $824 million, with GAAP EPS between $0.21 and $0.27, and non-GAAP EPS between $0.55 and $0.61 [4][5]. Share Repurchase Authorization - The Board of Directors has authorized a common stock repurchase program of up to $1 billion, replacing the previous authorization and effective immediately [6]. Segment Performance - In Q4 2024, Trimble's reporting segments showed varied performance, with AECO segment revenue at $413.8 million, Field Systems at $362.8 million, and T&L at $206.8 million [16]. - The operating income percentages for these segments were 40.8% for AECO, 30.4% for Field Systems, and 20.3% for T&L [16]. Cash Flow and Capital Expenditures - Trimble reported net cash provided by operating activities of $531.4 million for the year, with free cash flow of $497.8 million after capital expenditures of $33.6 million [15][28]. - The company generated significant cash flow from divestitures, amounting to $1,923.4 million [15]. Company Overview - Trimble focuses on transforming how people move, build, and live, utilizing core technologies in positioning, modeling, and data analytics to enhance productivity, quality, safety, transparency, and sustainability [8].

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Trimble Navigation (TRMB) , which belongs to the Zacks Manufacturing - General Industrial industry.This GPS manufacturer has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 10.84%.For the most recent quarter, Trimble was expected to po ...

Accelerating the Future of Transportation Technology through the Global Expansion of Virtual VehicleTrimble and Platform Science Will Strengthen and Expand Their Ongoing Commercial Relationship as Part of This Agreement WESTMINSTER, Colo. and SAN DIEGO, Feb. 10, 2025 /PRNewswire/ -- Trimble (Nasdaq: TRMB) and Platform Science announced the completion of Platform Science's acquisition of Trimble's global transportation telematics business units. The deal was first announced in September 2024 during the Trimb ...

WESTMINSTER, Colo., Feb. 6, 2025 /PRNewswire/ -- Trimble (Nasdaq: TRMB) will hold a conference call on Wednesday, February 19, 2025 at 8 a.m. ET to review its fourth quarter and full year 2024 results. The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://registrations.events/direct/Q4I841133938. Upon registration, dial-in details will be sent via email to the registrant.About TrimbleTri ...

No changes have been made to previously reported financial statements Remediation to internal controls well underway WESTMINSTER, Colo., Jan. 16, 2025 /PRNewswire/ -- Trimble (Nasdaq: TRMB) has announced that Ernst & Young LLP (EY), Trimble's independent auditor, has completed its audit procedures relating to Trimble's 2023 financial statements. These additional audit procedures identified no changes to Trimble's previously reported financial results. The company has now filed its amended Annual Report on ...

Financial Performance - Total revenue for the first quarter of 2024 was $953.3 million, an increase of 4.3% compared to $915.4 million in the first quarter of 2023[14]. - Product revenue decreased to $367.1 million, down 15.4% from $434.4 million year-over-year, while subscription and services revenue increased to $586.2 million, up 21.9% from $481.0 million[14]. - Gross margin improved to $593.6 million, compared to $560.8 million in the same quarter last year[14]. - Operating income for the first quarter of 2024 was $109.2 million, a decrease of 20.3% from $137.0 million in the first quarter of 2023[14]. - Net income fell to $57.2 million, down 55.7% from $128.8 million year-over-year, resulting in earnings per share of $0.23[14]. - Cash flow from operating activities increased to $233.8 million in Q1 2024, compared to $208.7 million in Q1 2023[20]. - Basic and diluted earnings per share for Q1 2024 were both $0.23, down from $0.52 in Q1 2023, with net income decreasing to $57.2 million from $128.8 million[64]. Assets and Liabilities - Cash and cash equivalents increased to $255.1 million from $229.8 million at the end of 2023[12]. - Total assets decreased to $9,321.2 million from $9,539.3 million at the end of 2023[12]. - Total liabilities decreased to $4,972.1 million from $5,039.2 million at the end of 2023[12]. - The company’s cash and cash equivalents at the end of Q1 2024 were $261.6 million, down from $1,038.1 million at the end of Q1 2023[20]. - Total debt as of Q1 2024 was $3,030.3 million, slightly down from $3,066.6 million at year-end 2023[50]. - The company’s total liabilities held for sale decreased to $40.6 million in Q1 2024 from $48.3 million at year-end 2023, a decline of about 16.5%[42]. Investments and Acquisitions - The total purchase consideration for the acquisition of Transporeon GmbH was €1.9 billion ($2.1 billion), including the repayment of $339.6 million in outstanding debt[36]. - The company recorded $1,390.1 million of goodwill and $939.8 million of identifiable intangible assets from the Transporeon acquisition[36]. - The company completed the Ag divestiture on April 1, 2024, receiving $1.9 billion in cash proceeds, and recorded a pre-tax gain of $1.7 billion from this transaction[69][81]. - The company repaid $1.0 billion of its variable-rate debt using proceeds from the Ag divestiture, with an outstanding balance of $1.2 billion in variable-rate debt at the end of Q1 2024[71][85]. Revenue Segments - The AECO segment reported revenue of $339.1 million in Q1 2024, a 17.7% increase from $288.1 million in Q1 2023[49]. - The company’s North America segment generated $494.8 million in revenue for Q1 2024, compared to $481.8 million in Q1 2023, marking an increase of approximately 2.1%[49]. - T&L segment revenue grew by 32% to $195.0 million, driven by MAPS and Enterprise subscription revenue growth[107]. - Segment revenue for the first quarter of 2024 reached $953.3 million, up from $915.4 million in the first quarter of 2023, representing a growth of approximately 4.1%[47]. Recurring Revenue - The company is focused on increasing its mix of recurring revenue, which represented 73% of total revenue in Q1 2024, up from 66% in Q1 2023[76]. - Annualized recurring revenue (ARR) of $2,028.6 million, representing a year-over-year growth of 23% at the end of Q1 2024, with organic growth of 13% excluding foreign currency impacts, acquisitions, and divestitures[76]. - The ending balance of deferred revenue increased to $818.6 million in Q1 2024 from $760.8 million in Q1 2023, with billings net of revenue recognized at $356.4 million for Q1 2024[60]. Research and Development - The company plans to continue investing in research and development to introduce new products and enhance recurring revenue streams[5]. - Research and development expenses rose by 7% to $170.2 million, representing 17.9% of total revenue[94]. Tax and Interest - The effective income tax rate increased to 21.6% in Q1 2024 from 19.8% in Q1 2023, primarily due to a decreased tax benefit from foreign-derived intangible income[65]. - A hypothetical 50 basis point increase in interest rates on variable-rate debt would result in an increase of approximately $6.3 million in annual interest expense[136]. Operational Challenges - Macroeconomic conditions, including geopolitical tensions and inflationary pressures, are expected to continue impacting the company's results of operations[84]. - Material weaknesses in internal controls related to the business combination with Transporeon and IT general controls were identified, and remediation actions are currently being taken[142]. - The company is implementing a customer relationship management tool as a strategic initiative to replace legacy systems, which could materially affect internal control over financial reporting[145].

High-level accuracy designed to enhance safety and improve performance for ADAS and C-V2X applicationsWESTMINSTER, Colo., Jan. 6, 2025 /PRNewswire/ -- TrimbleⓇ (Nasdaq: TRMB) announced today it has extended its technology collaboration with Qualcomm Technologies, Inc. to deliver precise positioning solutions for automated vehicles ranging from automobiles to heavy trucking. Trimble's precise positioning engine, Trimble ProPointⓇ Go™, will be integrated with the SnapdragonⓇ Auto 5G Modem-RF Gen 2, a key plat ...

Boston, MA, Dec. 17, 2024 (GLOBE NEWSWIRE) -- MiniLuxe Holding Corp. (TSXV:MNLX) ("MiniLuxe" or the "Company") is pleased to announce its inaugural franchisee operator partner, Ms. Quynh Pham, a Boston-based serial retail entrepreneur and business leader. Ms. Pham will also be investing in the company's upcoming private placement and play a role in advising the Company on the recruitment, development and retention of nail designer talent. Ms. Pham immediately begins her franchising journey with a MiniLuxe l ...

Integrated approach means less hassle and more support for complete slope stability monitoring solutionsWESTMINSTER, Colo. and BRISBANE, Australia, Dec. 16, 2024 /PRNewswire/ -- Trimble® (Nasdaq: TRMB) and GroundProbe, part of Orica Digital Solutions (ASX: ORI) specializing in real-time solutions for measuring and monitoring geohazards, have announced a new collaboration. Instead of working through various suppliers to gain guidance on technology solutions, this joint effort will enable geotechnical mine mo ...