Trimble Inc. - TRMB STOCK NEWS

Trimble (NASDAQ: TRMB) launched the R750 GNSS Modular Receiver, enhancing positioning capabilities for civil construction, geospatial, and agricultural sectors. Features include improved satellite tracking, built-in LTE modem for internet corrections, and remote management options. Designed to provide Real-Time Kinematic (RTK) corrections, the R750 enables users to efficiently manage base stations, especially in remote locations. This technology aims to improve operational efficiency and reduce downtime, making it a significant advancement for users deploying automated systems in monitoring applications.

Trimble and Tampere University in Finland have launched a pioneering Technology Lab within the Faculty of the Built Environment. This lab offers hands-on experience with Trimble's advanced solutions, enhancing student education in architecture and civil engineering. Key technologies include 3D modeling and built environment management tools. The initiative aims to integrate cutting-edge tools into the curriculum, preparing students for future challenges. The lab will utilize Trimble's Connected Construction portfolio to improve productivity and sustainability in project management.

Trimble and Ferguson Waterworks have announced a collaboration to enhance utility services through Trimble's digital water solutions, available at over 1,600 Ferguson locations. This partnership enables municipal and utility customers to access advanced technologies for managing water and wastewater systems. Key offerings include IoT devices, handheld GNSS receivers, and asset management software. This collaboration aims to address challenges faced by utility owners, particularly aging infrastructure, and allows Ferguson to provide better support to its customers.

Trimble Ventures, the corporate venture capital fund of Trimble (NASDAQ: TRMB), announced its investment in Monarch Tractor, the first fully electric autonomous smart tractor platform. This investment aligns with Trimble's strategy of supporting innovation in sectors like agriculture. Monarch Tractor aims to address challenges such as labor shortages and sustainability in farming through advanced technology. Phil Sawarynski, managing director at Trimble Ventures, highlighted the importance of this opportunity for enhancing farming efficiency and profitability.

Trimble (NASDAQ: TRMB) has launched its Trimble Earthworks and Siteworks software as global subscription services, allowing contractors to easily implement machine control and construction surveying solutions without large upfront costs. These subscription plans include fixed monthly rates, hardware upgrades, technical support, and accidental damage protection for specific regions. Scott Crozier, General Manager of Civil Construction at Trimble, emphasizes that this model ensures contractors always utilize the latest technology, enhancing productivity and reducing management overhead.

Trimble and Swinburne University of Technology have partnered to open a cutting-edge Technology Lab in Australia’s School of Engineering. This initiative aims to equip students in Civil and Construction Engineering with vital skills and knowledge of sustainable practices and advanced technologies. The lab will utilize Trimble's comprehensive solutions, including augmented reality systems and advanced software for construction management. The collaboration emphasizes practical learning, preparing students for future engineering challenges and enhancing their employability in a technology-driven workforce.

Trimble (NASDAQ: TRMB) has announced significant enhancements to its CenterPoint RTX correction service for precision agriculture, now enabling farmers to achieve 2.5 cm accuracy in under five minutes, a drastic reduction from 20 minutes. This is made possible through the integration of the BeiDou-III constellation, increasing satellite availability by 25%. The upgrade includes Trimble's ProPoint technology, providing 40% greater positioning availability in challenging environments, facilitating critical farming tasks like planting and harvesting.

Trimble (NASDAQ: TRMB) has established a scholarship program honoring Dr. Gladys West, a mathematician recognized for her contributions to GPS technology. Following her 91st birthday, the program aims to support education in engineering at Virginia State University, North Carolina A&T State University, and Florida International University. Each university will award a 4-year scholarship annually, reflecting Dr. West's legacy and the Trimble Foundation's commitment to female empowerment and diversity. The initiative aligns with Trimble's mission to promote education and innovation in geospatial technology.

Trimble reported third-quarter 2021 financial results, revealing a 14% year-over-year increase in GAAP revenue, totaling $901.4 million. Non-GAAP revenue mirrored this growth, also reaching $901.4 million. Annualized recurring revenue (ARR) rose by 8% to $1.36 billion. GAAP operating income was $147.5 million, while non-GAAP operating income stood at $214.7 million. Trimble achieved a GAAP net income of $124.0 million or $0.49 per share, and a non-GAAP net income of $168.6 million, equating to $0.66 per share. Adjusted EBITDA was $233.4 million, or 25.9% of revenue.