Trimble Inc. - TRMB STOCK NEWS

Trimble (NASDAQ: TRMB) has launched the beta version of SketchUp for iPad, designed for professionals in architecture, engineering, and construction to create and edit 3D models on-the-go. The app utilizes 5G connectivity and integrates with the Trimble Connect platform for real-time collaboration. Unique features include Autoshape, Markup Mode, and AR model viewing, enhancing user experience. Early access is available to a limited number of users on a first-come, first-served basis, aimed at improving workflow flexibility and collaboration.

Trimble (NASDAQ: TRMB) launched Trimble Construction One at the Collaborate Conference on September 14, 2021. This connected, cloud-based management platform enhances project lifecycle efficiency by linking project finances with operational data. Key features include integrated planning, execution, and management tools, aimed at improving decision-making and profitability. Existing ViewpointOne customers will automatically transition to this platform, gaining additional benefits. Trimble's innovative solutions support better resource utilization, real-time data access, and increased project profitability for contractors.

Trimble announced a new share repurchase program, authorizing up to $750 million in stock buybacks, replacing the previous $600 million plan. The new program has no expiration date and is effective immediately. Year-to-date, Trimble has repurchased approximately 0.6 million shares at an average price of $71.24 each, totaling about $40 million. The repurchase methods include open market transactions and accelerated stock repurchase plans, subject to market conditions.

Viewpoint, a Trimble Company (NASDAQ: TRMB), has opened registration for its annual Collaborate construction technology user conference scheduled for September 14-16, 2021. The virtual event aims to unite construction professionals to address industry challenges, share best practices, and receive product training. A keynote by Laila Ali will be featured. The agenda includes 26 industry-focused sessions, product-specific training, economic outlook insights, and opportunities for networking. Free access is available to both current customers and all construction industry professionals.

Trimble Inc. (NASDAQ: TRMB) reported strong second quarter 2021 financial results, showcasing a 29% year-over-year revenue increase to $945.2 million in GAAP revenue. Non-GAAP revenue mirrored this growth at $945.3 million. Notably, annualized recurring revenue rose 11% to $1.35 billion. GAAP operating income reached $144.8 million, while non-GAAP operating income was $228.6 million. The diluted earnings per share were $0.55 on a GAAP basis and $0.72 non-GAAP. Adjusted EBITDA was $249.3 million, representing 26.4% of revenue, with operating cash flow on a trailing twelve months basis increasing 42% to $797.6 million.

Trimble (NASDAQ: TRMB) has launched Trimble Ventures, a new $200 million venture fund aimed at investing in early to growth-stage innovative companies. This initiative aligns with Trimble's mission to revolutionize industries such as agriculture, construction, geospatial, and transportation. The fund will support companies focusing on technology-driven innovation, including AI, IoT, and sustainability. Trimble Ventures will provide not only capital but also industry expertise and market access, aiming to enhance innovation and customer solutions.

Trimble and Fundex Equipment announced the launch of the Trimble Groundworks Machine Control System, now integrated as a factory-fit option for Fundex foundation machines. This advanced system enhances efficiency by providing 3D guidance for piling operations, reducing downtime and improving safety with features like stakeless navigation, drill hole calculation, and over/under drilling prevention. This integration is expected to boost productivity, allowing operations to run under various conditions, while ensuring compliance with international standards for data exchange.

Trimble (NASDAQ: TRMB) announced the appointment of Ann Fandozzi to its Board of Directors, effective August 16, 2021. Fandozzi, currently the CEO of Ritchie Bros. Auctioneers, has extensive experience in leadership roles across various industries, including automotive and consumer sectors. Trimble's CEO, Rob Painter, emphasized her valuable insights and transformational leadership in accelerating industry growth. Fandozzi expressed enthusiasm about Trimble's mission to connect the physical and digital worlds and looks forward to contributing to its vision.

Trimble (NASDAQ: TRMB) has announced significant enhancements to its Trimble RTX correction services, aimed at geospatial professionals. Users can now experience 60% faster convergence times, reducing survey time in the field from up to 15 minutes to just 3 minutes. The updated service includes support for the BeiDou-III constellation, improving reliability in challenging GNSS environments. Additionally, a streamlined workflow is introduced, allowing surveyors to collect data without site calibration. Trimble RTX correction subscriptions are available through authorized partners and online.