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 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.
Trimble (NASDAQ: TRMB) and Microsoft have announced a strategic partnership aimed at enhancing technology adoption in industries such as construction, agriculture, and transportation. This collaboration will leverage Microsoft Azure to build the Trimble Construction Cloud, set to launch in 2022, which will connect stakeholders and improve productivity across the construction lifecycle. The partnership seeks to address productivity challenges in the construction sector, which has seen only 1% growth over the past two decades. Joint go-to-market strategies will also be developed to support infrastructure investments.
Trimble (NASDAQ: TRMB) has launched the Trimble® Connect® AR app, enhancing its mixed-reality offerings for building construction workers. This app, compatible with Android and iOS, allows users to access 3D models in the field, improving collaboration and workflow. Connect AR integrates with existing platforms, enabling efficient issue resolution and design reviews. The app facilitates real-time measurement and visual comparisons, expediting QA/QC inspections. Trimble Connect AR is now available globally through Trimble and BuildingPoint partners.
Trimble (NASDAQ: TRMB) and Washington State University have launched a new Technology Lab at WSU's Voiland College of Engineering and Architecture. This initiative aims to prepare students for careers in civil and environmental engineering by providing hands-on experience with Trimble's advanced technologies. The lab will enhance educational programs with tools for surveying, GIS, BIM, and energy analysis, fostering interdepartmental collaboration. This partnership aligns with WSU's mission to produce work-ready graduates, significantly impacting the construction industry.
Trimble (NASDAQ: TRMB) has announced a conference call scheduled for November 3, 2021, at 2 p.m. PT to discuss its third quarter 2021 results. Investors can access the live broadcast at investor.trimble.com or dial in at 844-817-7339 (U.S.) or 409-231-2959 (international) using passcode 5058328. Trimble focuses on industrial technology solutions that enhance productivity, quality, and sustainability across various sectors including agriculture and construction.
Trimble (NASDAQ: TRMB) has launched the Trimble X7 3D laser scanner and Trimble FieldLink software, integrated with Boston Dynamics' Spot robot. This innovative solution enhances autonomous operations on construction sites, facilitating real-time documentation and analysis of jobsite progress. By utilizing Trimble's data capture technology, users can enjoy improved efficiency and immediate access to critical information, streamlining project decision-making. The complete package, available through Trimble and select partners, includes the X7 scanner, FieldLink software, a rugged tablet, and Spot's self-charging docking station.
Trimble (NASDAQ: TRMB) has launched a model-based estimating workflow connecting Building Information Modeling (BIM) with Trimble Estimation MEP software. This direct API integration aims to enhance project visibility and collaboration for mechanical piping and electrical contractors. The new feature in SysQue version 9.0 allows for the quick generation of detailed estimates, comparing bids and improving accuracy. Industry leaders highlighted its efficiency in managing costs and tracking progress. This innovation supports Trimble’s goal of driving digital transformation in construction.
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