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.
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Trimble announced the acquisition of Flashtract to enhance subcontractor management capabilities through Trimble Pay, a technology to streamline payment and compliance processes in the construction industry. The technology will be integrated with Trimble Viewpoint Vista ERP solution and showcased at the CFMA National Conference in May 2024.
Trimble announced the 2024 B2W Customer Innovation Award winners, including Bituminous Roadways, Gulf Operators, and Sherwood Companies, for achieving ROI and performance improvements using B2W Software. The awards recognize contractors for their use of individual B2W applications and the unified B2W platform, with benefits including operational efficiencies, streamlined data transfer, and enhanced data collection and reporting.
Trimble Inc. (NASDAQ: TRMB) reported strong first quarter 2024 results with record annualized recurring revenue of $2.03 billion, up 23% year-over-year. GAAP gross margin was 62.3% and non-GAAP gross margin was 65.8%. GAAP operating income was $109.2 million, non-GAAP operating income was $234.4 million. Adjusted EBITDA stood at $250.9 million. Revenue was $953.3 million, up 4% year-over-year. Diluted EPS was $0.23 on a GAAP basis and $0.64 on a non-GAAP basis. Share repurchases amounted to $175.0 million.
Transporeon, a Trimble Company, has released the '2024 Green Freight Report: Is Transportation on Track?' which details the decarbonization efforts and priorities in the road freight sector as well as business opportunities for shippers and carriers. Modal shift, load and routing optimization, and carrier optimization were top choices in driving freight decarbonization in 2023 according to report. The findings also revealed a lack of a coherent decarbonization strategy among many respondents, with issues such as the lack of collaboration and insufficient data methodologies posing as major challenges. On the positive side, the report shows that sustainability, particularly with decarbonization efforts, presents significant business opportunities for both shippers and carriers.
