Trimble Q4 Earnings Fall But Revenue Climbs; Stock Down In Pre-market

(RTTNews) - Trimble Inc. (TRMB), a manufacturer of scientific instruments, Monday reported lower earnings for the fourth quarter compared to the same period last year. However, revenue increased by 9 percent.

Trimble shares are trading down around 5 percent in pre-market activity.

Further, the company provided guidance for the first quarter and fiscal 2024.

Earnings decreased to $63 million or $0.25 per share from $85.6 million or $0.34 per share in the last year.

Research and development expenses to $167.7 million from $134.7 million in the previous year.

On average, ten analysts polled by Thomson Reuters expect earnings of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues rose to $932.4 million from $856.5 million in the prior year. Organically it grew by 3 percent.

The Street view of revenue is $911.33 million.

Looking ahead to the next quarter, the company expects non-GAAP Earnings per share of $0.57 to $0.62 and revenue between $905 million and $935 million.

Analysts' estimate $0.68 per share in earnings and revenue of $977.07 million.

Looking forward to the full year, the company expects non-GAAP Earnings per share of $2.60 to $2.80 and revenue between $3,570 million and $3,670 million.

The Street view of earnings is $2.72 per share and revenue of $3.84 billion.

In pre-market activity, Trimble shares are trading at $49.88, down 5.01% on the Nasdaq.