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 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.
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.
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