Trimble Inc Stock Price, News & Analysis

Trimble Ventures, the corporate venture capital fund of Trimble (NASDAQ: TRMB), announced its investment in Monarch Tractor, the first fully electric autonomous smart tractor platform. This investment aligns with Trimble's strategy of supporting innovation in sectors like agriculture. Monarch Tractor aims to address challenges such as labor shortages and sustainability in farming through advanced technology. Phil Sawarynski, managing director at Trimble Ventures, highlighted the importance of this opportunity for enhancing farming efficiency and profitability.

Trimble (NASDAQ: TRMB) has launched its Trimble Earthworks and Siteworks software as global subscription services, allowing contractors to easily implement machine control and construction surveying solutions without large upfront costs. These subscription plans include fixed monthly rates, hardware upgrades, technical support, and accidental damage protection for specific regions. Scott Crozier, General Manager of Civil Construction at Trimble, emphasizes that this model ensures contractors always utilize the latest technology, enhancing productivity and reducing management overhead.

Trimble and Swinburne University of Technology have partnered to open a cutting-edge Technology Lab in Australia’s School of Engineering. This initiative aims to equip students in Civil and Construction Engineering with vital skills and knowledge of sustainable practices and advanced technologies. The lab will utilize Trimble's comprehensive solutions, including augmented reality systems and advanced software for construction management. The collaboration emphasizes practical learning, preparing students for future engineering challenges and enhancing their employability in a technology-driven workforce.

Trimble (NASDAQ: TRMB) has announced significant enhancements to its CenterPoint RTX correction service for precision agriculture, now enabling farmers to achieve 2.5 cm accuracy in under five minutes, a drastic reduction from 20 minutes. This is made possible through the integration of the BeiDou-III constellation, increasing satellite availability by 25%. The upgrade includes Trimble's ProPoint technology, providing 40% greater positioning availability in challenging environments, facilitating critical farming tasks like planting and harvesting.

Trimble (NASDAQ: TRMB) has established a scholarship program honoring Dr. Gladys West, a mathematician recognized for her contributions to GPS technology. Following her 91st birthday, the program aims to support education in engineering at Virginia State University, North Carolina A&T State University, and Florida International University. Each university will award a 4-year scholarship annually, reflecting Dr. West's legacy and the Trimble Foundation's commitment to female empowerment and diversity. The initiative aligns with Trimble's mission to promote education and innovation in geospatial technology.

Trimble reported third-quarter 2021 financial results, revealing a 14% year-over-year increase in GAAP revenue, totaling $901.4 million. Non-GAAP revenue mirrored this growth, also reaching $901.4 million. Annualized recurring revenue (ARR) rose by 8% to $1.36 billion. GAAP operating income was $147.5 million, while non-GAAP operating income stood at $214.7 million. Trimble achieved a GAAP net income of $124.0 million or $0.49 per share, and a non-GAAP net income of $168.6 million, equating to $0.66 per share. Adjusted EBITDA was $233.4 million, or 25.9% of revenue.

Trimble (NASDAQ: TRMB) and Microsoft have announced a strategic partnership aimed at enhancing technology adoption in industries such as construction, agriculture, and transportation. This collaboration will leverage Microsoft Azure to build the Trimble Construction Cloud, set to launch in 2022, which will connect stakeholders and improve productivity across the construction lifecycle. The partnership seeks to address productivity challenges in the construction sector, which has seen only 1% growth over the past two decades. Joint go-to-market strategies will also be developed to support infrastructure investments.

Trimble (NASDAQ: TRMB) has launched the Trimble® Connect® AR app, enhancing its mixed-reality offerings for building construction workers. This app, compatible with Android and iOS, allows users to access 3D models in the field, improving collaboration and workflow. Connect AR integrates with existing platforms, enabling efficient issue resolution and design reviews. The app facilitates real-time measurement and visual comparisons, expediting QA/QC inspections. Trimble Connect AR is now available globally through Trimble and BuildingPoint partners.

Trimble (NASDAQ: TRMB) and Washington State University have launched a new Technology Lab at WSU's Voiland College of Engineering and Architecture. This initiative aims to prepare students for careers in civil and environmental engineering by providing hands-on experience with Trimble's advanced technologies. The lab will enhance educational programs with tools for surveying, GIS, BIM, and energy analysis, fostering interdepartmental collaboration. This partnership aligns with WSU's mission to produce work-ready graduates, significantly impacting the construction industry.