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 (NASDAQ: TRMB) announced continued support for Engineers Without Borders USA (EWB-USA) through a Foundation grant focused on climate resiliency projects and STEM education initiatives. This grant extends support to EWB student chapters at universities hosting Trimble Technology Labs. The collaboration aims to provide communities with resources to address critical infrastructure challenges and improve STEM education in underserved areas. EWB-USA works with 170 student chapters, enhancing engineering education and offering service-learning opportunities for future engineers. Trimble's commitment aligns with its goal of promoting sustainable development globally.
Trimble (NASDAQ: TRMB) has launched a new advanced path planning technology to enhance automation and efficiency in industrial equipment. This software allows for the optimization of machine trajectory and speed, integrating with existing systems from equipment manufacturers. Trimble's technology supports a range of applications across industries like agriculture and construction, providing seamless experiences through Trimble Connected Farm and Construction Cloud. The solution can be adapted for complex environments and enables planning both in-office and in-field. Field tests with companies such as HORSCH and Dynapac have demonstrated its effectiveness in real-world conditions.
Trimble (NASDAQ: TRMB) announced its collaboration with Nissan to enhance the ProPILOT Assist 2.0 system using Trimble RTX technology, which offers precise lane-level positioning crucial for driver assistance. This innovative system will debut in the 2023 Nissan Ariya, enabling hands-off driving on highways. Trimble RTX outperforms standard GNSS by providing decimeter-level accuracy and rapid convergence, making it a reliable positioning solution for advanced driving scenarios. With over 30 million miles of proven technology, Trimble aims to advance the automotive sector’s journey toward full autonomy.
Trimble Inc. reported its fourth quarter and fiscal year 2022 financial results, showing an annualized recurring revenue of $1.60 billion, marking a 16% increase on an organic basis. Total revenue for the year was $3.68 billion, flat year-over-year but up 7% organically. The company achieved record GAAP gross margins of 57.3% and non-GAAP gross margins of 60.0%. In Q4, revenues reached $856.5 million, down 8% year-over-year. Despite this, diluted earnings per share stood at $0.34 GAAP and $0.60 non-GAAP. Trimble repurchased 6 million shares for $394.7 million during the year.
Trimble (NASDAQ: TRMB) announced its Engage Lane dynamic contract procurement solution now offers the industry's first average dwell time metrics for freight bidding. This new feature enhances decision-making for carriers and shippers by integrating critical dwell time data from the Trimble Transportation Cloud into the bidding workflow. Prior to this innovation, no third-party sources provided such metrics, often causing delays for drivers. Over 90% of industry stakeholders believe fixed-rate procurement improves business, and this advancement further solidifies Trimble's leadership in transportation data and strengthens relationships within the supply chain.
Trimble (NASDAQ: TRMB) has partnered with OneRail, a last mile logistics startup, to integrate Trimble Maps technology into OneRail's delivery platform, announced at Manifest 2023. This integration enhances OneRail's operational capabilities, utilizing Trimble's PC*MILER routing and advanced ETA engine, and supports real-time tracking with proactive delivery alerts. OneRail boasts an impressive on-time delivery rate exceeding 98%, serving various industries including retail and healthcare. This collaboration aims to improve delivery efficiencies and bolster OneRail's growth in the last mile logistics sector.
Trimble (NASDAQ: TRMB) will conduct a conference call on February 8, 2023, at 8 a.m. ET to discuss its fourth quarter and full year 2022 results. The call is accessible via web streaming at Trimble Investor or by phone at (888) 660-6347 for U.S. callers and (929) 201-6594 internationally, using conference ID 1043223. Trimble specializes in industrial technology, offering solutions in positioning, modeling, connectivity, and data analytics across various industries including agriculture, construction, and transportation. For more details, visit Trimble's website.
Trimble (NASDAQ: TRMB) has partnered with the University of British Columbia (UBC) to establish a pioneering Trimble Technology Lab at UBC's Forest Sciences Centre. This lab, the first of its kind in Canada, aims to enhance forestry education through advanced technologies. It will provide students hands-on experience with tools like 3D modeling software, laser scanners, and decision support systems. Trimble's initiative reflects its dedication to sustainable forestry practices and aims to equip future professionals with essential skills in addressing environmental challenges.
Wise Systems, a leader in AI-driven delivery optimization, has appointed Chris Martin as Chief Financial Officer. Previously with Trimble (NASDAQ: TRMB), Martin brings over 15 years of experience in finance and operations within high-growth technology companies. His role at Wise Systems focuses on financial management and scaling the organization. Wise Systems delivers software solutions used by major brands in last-mile delivery, enhancing fleet efficiency and reducing carbon footprint.
Trimble has been selected by the Norwegian Public Roads Administration (NPRA) to provide AgileAssets enterprise asset management software for its extensive 10,600-km road network. This software will enhance NPRA's management capabilities alongside Quadri, a cloud-based BIM solution already in use. The integration aims to improve data sharing across asset lifecycles, enabling better decision-making, preventive maintenance, and lowering lifetime costs. The partnership illustrates Trimble's ongoing role in Norway's digital transformation in infrastructure management.
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