Trimble Inc Stock Price, News & Analysis

Viewpoint, a Trimble Company (NASDAQ: TRMB), has opened registration for its annual Collaborate construction technology user conference scheduled for September 14-16, 2021. The virtual event aims to unite construction professionals to address industry challenges, share best practices, and receive product training. A keynote by Laila Ali will be featured. The agenda includes 26 industry-focused sessions, product-specific training, economic outlook insights, and opportunities for networking. Free access is available to both current customers and all construction industry professionals.

Trimble Inc. (NASDAQ: TRMB) reported strong second quarter 2021 financial results, showcasing a 29% year-over-year revenue increase to $945.2 million in GAAP revenue. Non-GAAP revenue mirrored this growth at $945.3 million. Notably, annualized recurring revenue rose 11% to $1.35 billion. GAAP operating income reached $144.8 million, while non-GAAP operating income was $228.6 million. The diluted earnings per share were $0.55 on a GAAP basis and $0.72 non-GAAP. Adjusted EBITDA was $249.3 million, representing 26.4% of revenue, with operating cash flow on a trailing twelve months basis increasing 42% to $797.6 million.

Trimble (NASDAQ: TRMB) has launched Trimble Ventures, a new $200 million venture fund aimed at investing in early to growth-stage innovative companies. This initiative aligns with Trimble's mission to revolutionize industries such as agriculture, construction, geospatial, and transportation. The fund will support companies focusing on technology-driven innovation, including AI, IoT, and sustainability. Trimble Ventures will provide not only capital but also industry expertise and market access, aiming to enhance innovation and customer solutions.

Trimble and Fundex Equipment announced the launch of the Trimble Groundworks Machine Control System, now integrated as a factory-fit option for Fundex foundation machines. This advanced system enhances efficiency by providing 3D guidance for piling operations, reducing downtime and improving safety with features like stakeless navigation, drill hole calculation, and over/under drilling prevention. This integration is expected to boost productivity, allowing operations to run under various conditions, while ensuring compliance with international standards for data exchange.

Trimble (NASDAQ: TRMB) announced the appointment of Ann Fandozzi to its Board of Directors, effective August 16, 2021. Fandozzi, currently the CEO of Ritchie Bros. Auctioneers, has extensive experience in leadership roles across various industries, including automotive and consumer sectors. Trimble's CEO, Rob Painter, emphasized her valuable insights and transformational leadership in accelerating industry growth. Fandozzi expressed enthusiasm about Trimble's mission to connect the physical and digital worlds and looks forward to contributing to its vision.

Trimble (NASDAQ: TRMB) has announced significant enhancements to its Trimble RTX correction services, aimed at geospatial professionals. Users can now experience 60% faster convergence times, reducing survey time in the field from up to 15 minutes to just 3 minutes. The updated service includes support for the BeiDou-III constellation, improving reliability in challenging GNSS environments. Additionally, a streamlined workflow is introduced, allowing surveyors to collect data without site calibration. Trimble RTX correction subscriptions are available through authorized partners and online.

Trimble (NASDAQ: TRMB) will host a conference call on August 4, 2021 at 2 p.m. PT to discuss its second quarter 2021 results. This call will be accessible via web broadcast at investor.trimble.com or by phone at 800-528-9198 (U.S.) or 702-928-6633 (international) using passcode 6077528. Trimble focuses on connecting the physical and digital worlds through its innovative products and services across various sectors, enhancing productivity, quality, and sustainability.

Trimble (NASDAQ: TRMB) has launched the Trimble MX50 mobile mapping system, designed for asset management and mapping. This vehicle-mounted mobile LiDAR system offers a mid-range option for both novice and experienced users. It features high-accuracy profiling lasers, a 360-degree panoramic camera, and GNSS/IMU positioning technology, producing dense point clouds for accurate surveying. The MX50 simplifies mobile mapping, enhancing productivity in asset management and road maintenance. Available now through Trimble Geospatial Distribution Partners, the MX50 expands Trimble's mobile mapping portfolio.

Trimble (NASDAQ: TRMB) announced the successful launch of the Land Information System (LIS) for the Anguilla Department of Lands and Surveys, marking a significant advancement in land administration. This project, funded by a UK government grant post-Hurricane Irma, digitizes land records that were vulnerable to disasters. The new LIS aims to streamline land-based transactions, enhance government transparency, and improve the efficiency of stamp duty collections. Director Leslie Hodge praised Trimble for their technical expertise and best practices in successfully implementing this project.