Trimble Q4 Profit Misses View, But Sales Top; Sees FY Profit Below View

(RTTNews) - Trimble Inc. (TRMB) reported fourth quarter net income attributable to the company of $115.3 million or $0.45 per share down from $180.3 million or $$0.71 per share in the prior year.

Non-GAAP net income per share was $0.62 compared to $0.61 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

GAAP and non-GAAP revenue was $926.0 million, up 12 percent year over year. Analysts expected revenues of $895.56 million for the fourth quarter.

For the full year 2022, Trimble expects earnings per share to be in the range of $1.80 to $1.99, and non-GAAP earnings per share of $2.75 to $2.95. Analysts expect annual earnings of $2.96 per share.

The company projects annual revenue to be between $3.95 billion and $4.05 billion, non-GAAP revenue of $3.95 billion - $4.05 billion. Analysts expect revenues of $3.96 billion for fiscal year 2022.