Welcome to our dedicated page for Trimble news (Ticker: TRMB), a resource for investors and traders seeking the latest updates and insights on Trimble stock.
Trimble Inc. (NASDAQ: TRMB) is a leading technology company that is revolutionizing the way the world connects the physical and digital realms. With core technologies in positioning, modeling, connectivity, and data analytics, Trimble enhances productivity, quality, safety, and sustainability across various industries.
Founded in 1978 and headquartered in Westminster, Colorado, Trimble operates in more than 30 countries and serves customers in over 141 countries. The company’s expertise spans across four major segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. A significant portion of its revenue comes from the Buildings and Infrastructure segment, catering to professionals in architecture, engineering, construction, design, asset management, and maintenance.
Trimble's innovation is evident in its latest achievements. Recent news highlights include the Level 2 Certification of its e-Builder Enterprise and AgileAssets solutions by the Texas Risk and Authorization Management Program (TX-RAMP). These cloud software solutions support asset lifecycle management for capital improvement programs and infrastructure networks, ensuring secure and efficient project delivery.
The company has also formed a joint venture with AGCO Corporation, combining Trimble’s precision agriculture business with AGCO's JCA Technologies. This joint venture, known as PTx Trimble, aims to provide farmers with advanced precision ag tools, enhancing productivity and sustainability in the agriculture sector.
Trimble's commitment to sustainability is further emphasized through its collaboration with MODE Global and Transporeon. By integrating Autonomous Procurement solutions, Trimble aims to optimize freight procurement processes, facilitating a more sustainable and efficient logistics network.
Trimble's dedication to improving productivity and sustainability extends to the forestry sector as well. Holmen, a leading Swedish forestry company, has selected Trimble's CONNECTED FOREST suite to manage its extensive land holdings, marking a significant shift towards data-driven forestry operations.
Financially, Trimble has demonstrated strong performance. The company reported record annualized recurring revenue and gross margins in its first quarter of 2024, driven by strategic initiatives and a focus on recurring revenue streams. Looking ahead, Trimble's forward-looking guidance projects continued growth in revenue and earnings, reflecting its robust market position and innovative capabilities.
Trimble Inc. (NASDAQ: TRMB) has received a staff delisting determination from Nasdaq due to non-compliance with timely filing requirements of periodic financial reports. The company failed to file Quarterly Reports on Form 10-Q for periods ending March, June, and September 2024 by the November 11 deadline. The delisting notice has no immediate effect on trading. Trimble plans to appeal before a Nasdaq Hearing Panel and seeks additional time to complete financial assessments with Ernst & Young LLP. Notably, management has not identified any errors requiring financial restatements, and EY has not withdrawn its previous audit report.
Trimble has announced the winners of its 2024 Construction Innovation Awards, recognizing seven North American contractors for their exceptional use of Trimble technology. The awards span six categories: Connected Construction, Process Transformation, Data-Driven Decision Making, Most Challenging Project, Workforce Achievement, and Changemaker (with two winners).
Winners include Bituminous Roadways for seamless data integration across departments, Myco Mechanical for workflow optimization, Hensel Phelps for data transparency, DPR Construction for completing a 74-story building project, Canam Group for workforce enhancement, and both Elder and Lafarge for innovative technology implementation.
Trimble (TRMB) unveiled new artificial intelligence innovations at its Dimensions user conference, showcasing AI integration across its construction technology portfolio. The company introduced several AI-powered tools: SketchUp Diffusion [Labs] for generating rendered images from text prompts, ProjectSight with AI-driven project management automation, LiveCount for automatic symbol detection and counting in construction drawings, and AI enhancements to Trimble Business Center for point cloud processing and feature extraction. These innovations aim to automate workflows, improve decision-making, and enhance productivity in both field and office construction operations.
Trimble (TRMB) announces a free version of ProjectSight, its construction project management software, featuring new AI capabilities developed with Microsoft. The software provides a centralized platform for managing and sharing project information, including documents, drawings, and workflows.
The free version includes essential features for managing drawings, photos, specifications, submittals, punchlists, and RFIs. The AI-driven drawing import feature, powered by Microsoft Azure OpenAI Service, automates information extraction and streamlines document processing. Paid versions offer additional features like unlimited projects, advanced cost management, and integration with other Trimble solutions.
Trimble announced that its SketchUp 3D modeling software has reached one million active subscribers. This growth is attributed to the transition to a subscription model, continuous product innovation, and customer-focused value delivery in the AEC industry. The software's link-sharing feature has enabled over 650,000 users to share 1.7 million links, accessed by 3.8 million users. Notable developments include the launch of SketchUp for iPad and AI features like SketchUp Diffusion, which has generated over 13 million images since December 2023 with 200,000+ users.
Trimble has announced enhancements to Trimble App Xchange and the launch of Trimble Marketplace to improve connectivity in construction workflows. App Xchange allows software developers to create integrations between Trimble products and other software, now available on Trimble Marketplace, which features over 100 integrations. Contractors can use App Xchange to build custom integrations for project, workforce, and financial management. Notable integrations include TOOLTRIBE's connection between Trimble Viewpoint Vista and their app, and new additions like Document Crunch and ProjectMark. These solutions aim to streamline data sharing and workflow automation, enhancing operational efficiency and productivity.
Trimble (TRMB) has expanded its support for The HALO Trust by donating 175 additional Trimble® Catalyst™ GNSS systems, including DA2 GNSS receivers, to enhance global demining operations. From January to September 2024, The HALO Trust cleared 802 minefields across 12 war-torn countries, covering 10,400 acres and safely destroying 31,209 landmines and other explosive remnants using Trimble's technology. The donation will help expand field teams' capabilities for precise mapping and safe landmine clearance in regions like Ukraine, Angola, and Sri Lanka.
Trimble (TRMB) has launched its Siteworks Machine Guidance Module for compact track loaders, expanding its all-in-one solution for survey and machine guidance capabilities. This marks the first new machine type since its introduction for excavators in 2023 and Trimble's first machine guidance solution for compact track loader buckets. The system includes the Trimble SPS986 or R780 GNSS Smart Antenna with tilt compensation and enables contractors to use Siteworks off-machine for design, measurement, and layout, then transfer the equipment to provide in-cab, 3D machine guidance without requiring a surveyor.
Trimble (NASDAQ: TRMB) reported third quarter 2024 financial results with revenue of $875.8 million, down 9% year-over-year but up 3% organically. The company achieved record annualized recurring revenue (ARR) of $2.19 billion, up 13% year-over-year. GAAP operating income was $116.4 million (13.3% of revenue), while non-GAAP operating income reached $224.8 million (25.7% of revenue). The company reported GAAP EPS of $0.16 and non-GAAP EPS of $0.70. Notable achievements include record gross margin of 68.5% and adjusted EBITDA of $237.4 million. Trimble announced the Mobility divestiture to simplify operations and raised its full-year guidance.
Trimble (TRMB) has announced its upcoming third quarter 2024 earnings conference call, scheduled for Wednesday, November 6, 2024, at 8 a.m. ET. The company will provide a review of its Q3 2024 financial results during the call, which will be accessible via webcast at http://investor.trimble.com. For those without internet access, the call can be joined by dialing (888) 660-6347 (U.S.) or (929) 201-6594 (international) using conference ID 1043223.
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