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 (NASDAQ: TRMB) announced its acquisition of MidStates VRS, enhancing its VRS Now GNSS corrections service coverage to over one million square miles across North America. This acquisition, which adds 105,000 square miles, aligns with Trimble's expansion strategy, providing high-accuracy positioning for agriculture, geospatial, and construction sectors, as well as emerging autonomous applications. The service allows users to achieve centimeter-level accuracy without a base station, aiming to improve productivity and safety. Financial terms of the acquisition were not disclosed.
Trimble (NASDAQ: TRMB) has launched the Trimble R12i GNSS receiver, enhancing its GNSS portfolio with advanced Inertial Measurement Unit (IMU)-based tilt compensation through Trimble TIP™ technology. This innovative receiver promises over 30% improvement in precision, accuracy, and reliability compared to the previous model, R10-2. The R12i is designed for challenging environments, enabling land surveyors to work efficiently in previously inaccessible areas. The system is available now through Trimble's distribution channel.
Trimble (NASDAQ: TRMB) announced new enhancements for its Transportation Management System (TMS) solutions during the 2020 in.sight user conference. The updates aim to streamline operations for carriers, brokers, and third-party logistics providers. Key integrations include KeepTruckin for improved communication and monitoring, project44 for rapid rate quote access, and enhanced Container IQ for tracking availability at ports. A new flexible dashboard in the Innovative IES platform allows customized user experiences, while a Fuel Dispatch subscription service supports planning and inventory management.
Trimble (NASDAQ: TRMB) announced enhancements to its TMT Service Center and TMT Fleet Maintenance solutions during its 2020 virtual in.sight user conference. Key updates include credit card processing for service centers, advanced reporting dashboards for fleet maintenance, and integration with KeepTruckin's mobile communications tool. These features aim to improve asset uptime, streamline payments, and provide actionable insights into vehicle data, ultimately enhancing profitability and customer service. For more information on these updates, visit Trimble's website.
Trimble (NASDAQ: TRMB) and Totalmobile have secured a contract with the EKFB joint venture for logistics support on the HS2 rail project in the UK. This innovative cloud-based vehicle management system allows EKFB to monitor subcontractors' vehicles and inventory in real-time, preventing delays and ensuring compliance. The software integrates Totalmobile's Mobilise application with Trimble MAPS for efficient route planning. EKFB's operations span an 80-kilometer section, including major construction activities. This collaboration enhances performance and operational oversight for one of the UK's largest infrastructure projects.
Viewpoint, a Trimble Company (NASDAQ: TRMB), announces registration for its virtual Collaborate conference, set for September 22-23, 2020. The free event aims to unite construction professionals to share best practices and address industry challenges through 32 sessions featuring over 50 speakers. Attendees can earn up to 7.5 CPE credits and engage in networking opportunities. The conference highlights technology adoption and data-driven cultures in construction, presenting a unique opportunity for learning and growth in managing projects, processes, and people.
Trimble Inc. (NASDAQ: TRMB) reported a 14% decline in GAAP revenue for Q2 2020, totaling $733.6 million, compared to Q2 2019. Non-GAAP revenue similarly dropped 14% to $735.2 million. Annualized recurring revenue increased 6% to $1.21 billion. Operating income decreased by 11% to $97.6 million, with a GAAP net income of $63 million, down 33%. Transportation revenue fell 24%, the steepest decline among segments. Despite these challenges, deferred revenue rose 17% to $531 million.
Trimble (NASDAQ: TRMB) has announced a conference call scheduled for August 5, 2020, at 2 p.m. PT to discuss its second quarter 2020 results. The call will be accessible via a live webcast, and investors can join by dialing 800-528-9198 for U.S. callers or 702-928-6633 internationally, using the passcode 7791485. Trimble focuses on delivering innovative products and services that bridge the physical and digital worlds across various industries, enhancing productivity, safety, and sustainability.
Trimble (NASDAQ: TRMB) and Cityworks announced a new real-time asset management solution for water and wastewater utilities. This solution integrates Cityworks' asset management software with Trimble's Telog IoT recorders and Trimble Unity Remote Monitoring Software as a Service (SaaS). This system enhances infrastructure maintenance and construction investments by utilizing real-time asset data. The solution is expected to be available in July 2020 and showcases advanced analytics and tools to improve operational efficiency for utilities.
Trimble (NASDAQ: TRMB) has announced that registration is now open for its 2020 in.sight user conference + expo, scheduled to take place virtually from August 24-26, 2020. The conference will prioritize health and safety amid the COVID-19 pandemic, aiming to enhance collaboration within the transportation industry. The theme 'We Are One' emphasizes inclusivity, allowing participation from various transportation suppliers and technology vendors. Attendees will benefit from educational sessions and networking opportunities designed to improve supply chain performance.
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