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 2024 user conference, Trimble Dimensions, scheduled for November 11-13 in Las Vegas. The event will feature over 700 educational sessions, including interactive hardware and software demos, focusing on topics such as AI, interoperability, workforce transformation, and supply chain optimization. Highlights include:
1. A construction Offsite Expo with hands-on demonstrations at a 15-acre worksite.
2. The integration of Trimble SketchUp's 3D Basecamp user conference.
3. A keynote by CEO Rob Painter unveiling latest Trimble innovations.
4. Two startup competitions: SketchUp 0-60 Challenge and Construction Startup Competition 2024 Pitch Day Event.
The conference aims to connect over 6,000 attendees with Trimble's technology experts and industry leaders, showcasing the latest advancements in construction and geospatial industries.
Trimble (NASDAQ: TRMB) has launched Transporeon Visibility in North America, offering real-time shipment tracking and accurate ETAs for road, ocean, and air transportation. This solution integrates with Trimble Transportation Management Software (TMS) and addresses challenges in freight visibility, which is often costly and unreliable. Key features include:
1. Seamless integration with Trimble TMS products
2. Automated data sharing through Trimble Trust Center
3. Real-time freight tracking view
4. Reliable ETA predictions
5. Enhanced data security
6. Optimized truckload management
7. Improved carrier network expansion
8. Increased security against freight fraud
9. Intermodal visibility coverage
Transporeon Visibility is currently available for carrier customers and will be accessible to all customer types, including shippers, in Q4 2024.
Trimble (NASDAQ: TRMB) unveiled new transportation technologies at its 2024 Insight Tech Conference in Las Vegas. CEO Rob Painter emphasized the company's commitment to innovation, cybersecurity, data, and AI. Key announcements include:
1. Platform Science's acquisition of Trimble's global transportation telematics business units
2. Launch of Trimble TMS Order Module
3. Updated CoPilot for enhanced truck-safe navigation
4. TMT Road Call for managing vehicle breakdowns
5. Transporeon Visibility for real-time shipment tracking
6. Trimble Inspections for streamlined vehicle inspections
The conference features networking, expert panels, and over 200 educational sessions, focusing on AI, driver retention, and freight fraud. Former US Navy Commander Mike Abrashoff is the keynote speaker, addressing transportation challenges and supply chain improvements.
Trimble (NASDAQ: TRMB) and Platform Science have announced a partnership to transform the transportation industry. Platform Science will acquire Trimble's global transportation telematics business units, with Trimble becoming a 32.5% shareholder in Platform Science's expanded business. The deal aims to enhance driver experience, fleet safety, efficiency, and compliance by combining two in-cab commercial vehicle ecosystems.
Key points:
- Transaction expected to close in first half of 2025
- Trimble's telematics business generated ~$300M revenue and ~$30M operating profit (trailing 12 months)
- ARR for the business was ~$200M in Q2 2024
- Divestiture expected to be accretive to Trimble's organic revenue growth, ARR growth, gross margin, and operating profit margin
- Trimble's other core transportation business units will remain part of its Transportation & Logistics segment
Trimble (NASDAQ: TRMB) has unveiled its new Trimble Reality Capture platform service, an extension to Trimble Connect, designed to enhance collaboration and secure sharing of large reality capture datasets. This service streamlines data management, visualization, and collaboration for professionals across various industries. It supports data from 3D laser scanning, mobile mapping, and UAV systems, making it easier to access and collaborate on complex projects while maintaining data integrity.
The platform leverages Microsoft Azure technology to efficiently handle massive datasets, significantly reducing processing time. It integrates with other Trimble software solutions and third-party systems, creating a connected ecosystem that bridges the gap between jobsite and office. This launch marks a step towards realizing living digital twins and AI applications at scale in the geospatial industry.
Trimble (NASDAQ: TRMB) has announced the winners of its 2024 Ovation Awards, recognizing customers in the transportation & logistics segment for innovative use of Trimble technology to enhance performance, safety, and efficiency. The awards highlight achievements in four categories:
1. Automation All-Stars: Tracso for automating compliance processes.
2. Better Together: Tucker Freight Lines, Polaris Transportation Group, Ashley Furniture, and NFI for collaborative implementations.
3. Rookies of the Year: Landstar Transportation Logistics for rapid adoption and results.
4. Safety Superteam: Ocean State Job Lot and Billy Barnes Enterprises for improving safety measures.
Winners demonstrated significant improvements in areas such as data accuracy, integration, messaging speed, and accident reduction. The awards ceremony will take place during Trimble's Insight Tech Conference in Las Vegas, September 15-17.
Trimble Inc. (NASDAQ: TRMB) has received a deficiency notification from Nasdaq on August 16, 2024, due to its failure to timely file its Q2 2024 Form 10-Q. This follows a similar notice received in May 2024 for the delayed Q1 2024 Form 10-Q filing. The company is not currently in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic reports.
Trimble has until August 31, 2024, to submit an updated compliance plan to Nasdaq. The company has already received an extension until November 11, 2024, to regain compliance for the Q1 filing. Trimble's stock listing on the Nasdaq Global Select Market is not immediately affected, and the company intends to take necessary steps to regain compliance as soon as possible.
Trimble (NASDAQ: TRMB) has released 'The Road Ahead: Key Trends and Capabilities Shaping the North American Freight Transportation Market', a Transporeon report analyzing the truckload transportation sector. The report highlights five key trends:
1. Market Challenges: Low demand and ample capacity creating difficulties for carriers.
2. Nearshoring: Mexico surpassing China as the leading source of U.S. imports.
3. Freight Fraud: 59% increase in cargo theft in Q3 2023 compared to Q3 2022.
4. Sustainability and Electric Vehicles: New emissions standards accelerating the switch to greener vehicles.
5. California's AB5 Bill: Potential reclassification of independent contractors as employees.
The report suggests solutions including enhanced collaboration via transportation management platforms, real-time freight visibility, and digital tools to streamline processes.
Trimble Inc. (NASDAQ: TRMB) announced its Q2 2024 financial results, showcasing strong execution and record-breaking performance in key areas. The company reported record annualized recurring revenue (ARR) of $2.11 billion, up 12% year-over-year and 14% organically. Despite a 12% year-over-year revenue decline to $870.8 million, Trimble achieved record second quarter gross margin, reflecting ongoing business transformation and favorable mix shift.
Notable financial highlights include:
- Non-GAAP operating income of $194.4 million (22.3% of revenue)
- Non-GAAP net income of $151.9 million
- Non-GAAP diluted EPS of $0.62
- Adjusted EBITDA of $214.0 million (24.6% of revenue)
Based on these strong results, Trimble is raising its full-year guidance for revenue and earnings per share, demonstrating confidence in its Connect & Scale strategy and continued innovation.
Trimble (NASDAQ: TRMB) has announced its upcoming second quarter 2024 earnings call and webcast, scheduled for Tuesday, August 6, 2024, at 8 a.m. ET. The company will review its Q2 2024 financial results during this call. Investors can access the live webcast through Trimble's investor relations website. For those without internet access, a dial-in option is available with the conference ID 1043223. U.S. callers can use (888) 660-6347, while international participants should dial (929) 201-6594.
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