Trimble Q1 Net Income Rises; Revenue Down 3% On Organic Basis

(RTTNews) - Trimble Inc. (TRMB) reported first-quarter net income of $128.8 million compared to $110.3 million, last year. Earnings per share was $0.52 compared to $0.44. Non-GAAP net income per share was $0.72 compared to $0.73. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.67, for the quarter. Analysts' estimates typically exclude special items.

Revenue was $915.4 million, down 8 percent on a year-over-year basis, down 3 percent year-over-year on an organic basis. Annualized recurring revenue was $1.65 billion, up 12 percent year-over-year, up 13 percent on an organic basis. Analysts on average had estimated $930.88 million in revenue.

For the full-year 2023, Trimble now expects to report revenue between $3.835 billion and $3.935 billion and non-GAAP EPS of $2.52 to $2.72.

For the second quarter of 2023, Trimble expects to report revenue between $962 million and $992 million and non-GAAP EPS of $0.55 to $0.61.

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