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) has announced an agreement to acquire Bilberry, a French technology firm focused on selective spraying systems for sustainable farming. The acquisition, scheduled to close in Q4 2022, aims to enhance Trimble's crop protection portfolio with AI-driven solutions that reduce herbicide use by over 80%. Bilberry's technology will allow farmers to apply herbicides selectively, minimizing environmental impact and costs. This strategic move positions Trimble to meet growing demand for precision agriculture solutions, integrating Bilberry's brand-agnostic systems with Trimble's existing products.
MiX Telematics (NYSE: MIXT) has announced a definitive agreement to acquire Trimble's Field Service Management (FSM) business, adding over 40,000 subscribers to its base. This strategic move enhances MiX's scale in North America and diversifies its offerings across industry verticals. CEO Stefan Joselowitz emphasized the focus on customer satisfaction and seamless integration. The acquisition is expected to be immediately accretive for MiX. Trimble's FSM will not materially impact its financial results, as it will continue to focus on core transportation capabilities.
Trimble (NASDAQ: TRMB) has joined forces with CLAAS to create a cutting-edge precision farming system for agricultural equipment. The system features the CLAAS CEMIS 1200 display, GPS PILOT steering, and SAT 900 GNSS receiver, enhancing user experience with integrated technology. This partnership aims to simplify operations with a unified interface, improving accuracy in farming activities. The new system is currently available for CLAAS TRION models and will expand to others including LEXION and ARION. With proven technology and global reach, this collaboration positions Trimble as a leader in precision agriculture.
On August 18, 2022, Trimble Ventures announced its investment in Sabanto, Inc., an agricultural tech firm focused on autonomous farming solutions offered as Farming as a Service (FaaS). This investment aims to tackle challenges like labor shortages and high capital expenses in agriculture. Sabanto utilizes smaller autonomous tractors for various farming operations across several states, demonstrating its potential by planting over 750 acres in one season. The investment aligns with Trimble's mission to foster innovation and sustainability in agriculture and related sectors.
Trimble (NASDAQ: TRMB) launched its 2022 Insight Tech Conference + Expo in Orlando, focusing on enhancing collaboration among carriers, shippers, and brokers. The company introduced its Connect and Scale 2025 strategy, emphasizing the development of cloud platforms to improve the transportation lifecycle from procurement to execution. CEO Rob Painter highlighted Trimble's digital transformation role in boosting sustainability and productivity. The event features key discussions on industry technology trends and provides networking opportunities for transportation stakeholders.
Trimble (NASDAQ: TRMB) has launched a new data integrity monitoring system for its CenterPoint® RTX Fast service, designed to enhance the reliability of precision positioning data across North America and Europe. This patented Trimble RTX Integrity™ system continuously verifies GNSS data from satellites, filtering out incorrect information before broadcast. Utilizing strategically located independent monitoring stations, it ensures highly accurate positioning for industries like agriculture, geospatial, construction, and automotive. The system complies with automotive safety standards, enhancing its integration into autonomous driving systems.
Trimble Inc. (NASDAQ:TRMB) reported strong second quarter results for 2022, with total revenue of $941.2 million, reflecting a 6% increase on an organic basis. The company achieved an annualized recurring revenue (ARR) of $1.51 billion, up 12% year-over-year. GAAP net income was $168 million, with diluted earnings per share at $0.67. The strategic focus on the Connect & Scale approach is highlighted by a 24.2% adjusted EBITDA margin and a share repurchase program totaling $200 million.
Trimble is set to conduct a conference call on August 5, 2022, at 5 a.m. PT, to discuss its second quarter 2022 results. Investors can access the live webcast through the company's investor relations page. For those unable to attend online, a phone option is available at (888) 660-6347 for U.S. callers and (929) 201-6594 internationally, using conference ID 1043223. Trimble focuses on industrial technology with solutions that enhance productivity across various industries including agriculture and construction.
On July 26, 2022, Trimble unveiled the Trimble X12 scanning system, enhancing its geospatial scanning portfolio. This innovative system integrates advanced 3D laser scanning technology with Trimble's software for precise data capture and field registration. Features include a range of up to 365 meters and a scan speed of 2.187 million points per second, enabling effective assessment of structural integrity in various projects. The Trimble X12 is now available through authorized distributors, furthering Trimble's mission to improve workflows and decision-making in geospatial applications.
Trimble (NASDAQ: TRMB) will host its 2022 Investor Day on September 7, 2022, at the Trimble Westminster, Colorado Campus. The event will feature presentations by President and CEO Rob Painter, CFO David Barnes, and senior management, focusing on the company's Connect & Scale strategy and financial objectives. The presentations will start at 9:00 am MST and conclude by 12:15 pm MST. A live webcast will be available, with replays accessible afterward. For details, visit Trimble Investor Relations.
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