Trimble Inc Stock Price, News & Analysis

Trimble (NASDAQ: TRMB) announced its collaboration with Nissan to enhance the ProPILOT Assist 2.0 system using Trimble RTX technology, which offers precise lane-level positioning crucial for driver assistance. This innovative system will debut in the 2023 Nissan Ariya, enabling hands-off driving on highways. Trimble RTX outperforms standard GNSS by providing decimeter-level accuracy and rapid convergence, making it a reliable positioning solution for advanced driving scenarios. With over 30 million miles of proven technology, Trimble aims to advance the automotive sector’s journey toward full autonomy.

Trimble Inc. reported its fourth quarter and fiscal year 2022 financial results, showing an annualized recurring revenue of $1.60 billion, marking a 16% increase on an organic basis. Total revenue for the year was $3.68 billion, flat year-over-year but up 7% organically. The company achieved record GAAP gross margins of 57.3% and non-GAAP gross margins of 60.0%. In Q4, revenues reached $856.5 million, down 8% year-over-year. Despite this, diluted earnings per share stood at $0.34 GAAP and $0.60 non-GAAP. Trimble repurchased 6 million shares for $394.7 million during the year.

Trimble (NASDAQ: TRMB) announced its Engage Lane dynamic contract procurement solution now offers the industry's first average dwell time metrics for freight bidding. This new feature enhances decision-making for carriers and shippers by integrating critical dwell time data from the Trimble Transportation Cloud into the bidding workflow. Prior to this innovation, no third-party sources provided such metrics, often causing delays for drivers. Over 90% of industry stakeholders believe fixed-rate procurement improves business, and this advancement further solidifies Trimble's leadership in transportation data and strengthens relationships within the supply chain.

Trimble (NASDAQ: TRMB) has partnered with OneRail, a last mile logistics startup, to integrate Trimble Maps technology into OneRail's delivery platform, announced at Manifest 2023. This integration enhances OneRail's operational capabilities, utilizing Trimble's PC*MILER routing and advanced ETA engine, and supports real-time tracking with proactive delivery alerts. OneRail boasts an impressive on-time delivery rate exceeding 98%, serving various industries including retail and healthcare. This collaboration aims to improve delivery efficiencies and bolster OneRail's growth in the last mile logistics sector.

Trimble (NASDAQ: TRMB) will conduct a conference call on February 8, 2023, at 8 a.m. ET to discuss its fourth quarter and full year 2022 results. The call is accessible via web streaming at Trimble Investor or by phone at (888) 660-6347 for U.S. callers and (929) 201-6594 internationally, using conference ID 1043223. Trimble specializes in industrial technology, offering solutions in positioning, modeling, connectivity, and data analytics across various industries including agriculture, construction, and transportation. For more details, visit Trimble's website.

Trimble (NASDAQ: TRMB) has partnered with the University of British Columbia (UBC) to establish a pioneering Trimble Technology Lab at UBC's Forest Sciences Centre. This lab, the first of its kind in Canada, aims to enhance forestry education through advanced technologies. It will provide students hands-on experience with tools like 3D modeling software, laser scanners, and decision support systems. Trimble's initiative reflects its dedication to sustainable forestry practices and aims to equip future professionals with essential skills in addressing environmental challenges.

Wise Systems, a leader in AI-driven delivery optimization, has appointed Chris Martin as Chief Financial Officer. Previously with Trimble (NASDAQ: TRMB), Martin brings over 15 years of experience in finance and operations within high-growth technology companies. His role at Wise Systems focuses on financial management and scaling the organization. Wise Systems delivers software solutions used by major brands in last-mile delivery, enhancing fleet efficiency and reducing carbon footprint.

Trimble has been selected by the Norwegian Public Roads Administration (NPRA) to provide AgileAssets enterprise asset management software for its extensive 10,600-km road network. This software will enhance NPRA's management capabilities alongside Quadri, a cloud-based BIM solution already in use. The integration aims to improve data sharing across asset lifecycles, enabling better decision-making, preventive maintenance, and lowering lifetime costs. The partnership illustrates Trimble's ongoing role in Norway's digital transformation in infrastructure management.

Trimble (NASDAQ: TRMB) plans to acquire Transporeon, a cloud-based transportation management platform, for €1.88 billion in an all-cash deal. This acquisition aims to enhance Trimble's market reach and is expected to boost revenue and operating margins immediately. Transporeon's platform, supporting over 145,000 carriers and 1,400 shippers, generated approximately €190 million in revenue in 2023, with an 80% gross margin. The acquisition is financed through committed debt and cash, and is projected to close in the first half of 2023, pending regulatory approvals.