Trimble Inc. ( (TRMB) ) has released its Q4 earnings. Here is a breakdown of the information Trimble Inc. presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Trimble Inc., a company in the technology sector, specializes in transforming the way people move, build, and live through core technologies in positioning, modeling, and data analytics, enhancing productivity, safety, and sustainability. Trimble Inc. reported its financial results for the fourth quarter and full-year 2024, highlighting record annualized recurring revenue and gross margin, indicative of the company’s strategic focus on its Connect & Scale initiative. The company’s revenue for the fourth quarter reached $983.4 million, representing a 5% year-over-year increase. Notably, the annualized recurring revenue rose by 14%, reflecting the company’s shift towards a software-driven revenue model. Trimble’s GAAP net income was $90.2 million for the quarter, with a diluted EPS of $0.36, while its non-GAAP net income was $221.5 million, translating to a diluted EPS of $0.89. For the fiscal year 2024, the company achieved a revenue of $3,683.3 million, with a non-GAAP operating income of $937.2 million. The company also announced a $1 billion share repurchase program, demonstrating confidence in its financial health. With the completion of its Mobility divestiture, Trimble sets its guidance for 2025, expecting revenue between $3,370 million and $3,470 million. The management remains optimistic about further advancing its Connect & Scale strategy in 2025 and beyond, aiming to enhance profitability and shareholder value.