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 has partnered with Oslo Metropolitan University (OsloMet) to establish a new Technology Lab focusing on civil engineering and energy technology. This initiative aims to enhance digital education in engineering by providing hands-on experience with Trimble's advanced solutions, including building information modeling and infrastructure planning. The lab will facilitate the integration of digital tools into OsloMet's curriculum, supporting students' career readiness in the evolving industry. The initiative reflects Trimble's commitment to developing the next generation of skilled professionals in engineering and construction.
On June 17, 2021, Trimble (NASDAQ: TRMB) and Doosan Infracore North America announced a partnership to offer Trimble Earthworks Grade Control Platform as a factory-installed option for Doosan crawler excavators in North America. This 2D machine control system includes a 10-inch Android™ tablet and is designed to enhance grading accuracy and productivity on construction sites. Available through the Doosan dealer network, customers can also upgrade to a 3D system via local SITECH dealers, facilitating improved operational efficiency.
Trimble (NASDAQ: TRMB) announced the acquisition of its Iron Solutions business by Randall-Reilly, a B2B data and analytics platform. This definitive agreement is anticipated to close in Q3 2021, though financial details remain undisclosed. Iron Solutions, which offers analytics and cloud-based systems for the heavy equipment sector, aligns with Randall-Reilly's existing market intelligence solutions. Trimble's CEO stated that this divestiture aids in refocusing on core capabilities and will not materially affect the company’s overall financial results.
Trimble (NASDAQ: TRMB) announced a collaboration with Worldsensing to expand its geospatial automated monitoring portfolio by adding a geotechnical product line. This new offering enables engineers to integrate geotechnical and geospatial data for enhanced monitoring capabilities. Key features include wireless geotechnical sensors, data loggers, and the Trimble 4D Control™ software for real-time notifications. The solution aims to streamline monitoring processes and improve safety by minimizing field visits. Availability is set for July 2021 through Trimble's global distribution channels.
Trimble (NASDAQ: TRMB) has donated to KTH Royal Institute of Technology in Sweden to establish a Technology Lab focused on architecture, engineering, and construction (AEC). This lab aims to enhance KTH's expertise in 3D design and sustainable building practices. Students will gain practical experience with Trimble's advanced tools, including scanning and 3D modeling software, improving their education and future career prospects. The collaboration signifies Trimble's commitment to innovation in the construction sector and aligns with their Connected Construction portfolio.
Trimble (NASDAQ:TRMB) announced the launch of Trimble Vegetation Manager, a modular software solution designed to enhance utility vegetation management. This software aims to reduce operating expenses while improving safety, regulatory compliance, and the reliability of electric infrastructure. With the integration of LiDAR technology, the solution offers tools for assessing vegetation threats and optimizing maintenance priorities. Trimble Vegetation Manager is expected to be available in June 2021, addressing critical utility management challenges linked to vegetation-related outages and safety risks.
Trimble (NASDAQ: TRMB) announced the expansion of its VRS Now® correction services across mainland Norway, adding over 400,000 square kilometers to its European footprint, which now totals 2.5 million square kilometers. This service provides accurate, reliable centimeter-level positioning for industries like surveying, construction, and agriculture. VRS Now is brand agnostic, works with most GNSS receivers, and is supported by a global team for consistent service. The expansion enhances operational efficiency and productivity for professionals in various sectors.
Trimble (NASDAQ:TRMB) launched the Trimble GuidEx Machine Guidance System on May 10, 2021, designed to enhance navigation for various machines, facilitating precise movement to target areas without the need for survey stakes. This system supports natural resource exploration, improving productivity with features like proximity alarms and real-time data logging. The GuidEx system can be installed on a range of equipment and allows for efficient corridor navigation while integrating with office systems for seamless data transfer, now available globally through SITECH distributors.
Trimble Inc. (NASDAQ: TRMB) reported robust financials for Q1 2021, showcasing a 12% increase in GAAP revenue at $886.5 million and non-GAAP revenue at $886.7 million. Annualized recurring revenue (ARR) reached $1.32 billion, a 9% year-over-year rise. The company posted GAAP operating income of $140.9 million and non-GAAP operating income of $209.2 million. Diluted earnings per share were $0.45 GAAP and $0.66 non-GAAP. Adjusted EBITDA stood at $231.3 million, representing 26.1% of revenue, with operating cash flow surging 26% to $744.5 million.
TravelCenters of America (NASDAQ: TA) and Trimble (NASDAQ: TRMB) have announced a new software integration aimed at enhancing truck maintenance services for fleet companies. This integration allows fleets using Trimble's TMT Fleet Maintenance software to easily schedule maintenance at approximately 250 TA Truck Service centers. Key benefits include reduced data entry errors, streamlined service tracking, and improved communication between fleet personnel and service locations. This development underscores both companies' commitment to maximizing efficiency for fleet operations.
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