Trimble Inc Stock Price, News & Analysis

Trimble has partnered with Oslo Metropolitan University (OsloMet) to establish a new Technology Lab focusing on civil engineering and energy technology. This initiative aims to enhance digital education in engineering by providing hands-on experience with Trimble's advanced solutions, including building information modeling and infrastructure planning. The lab will facilitate the integration of digital tools into OsloMet's curriculum, supporting students' career readiness in the evolving industry. The initiative reflects Trimble's commitment to developing the next generation of skilled professionals in engineering and construction.

On June 17, 2021, Trimble (NASDAQ: TRMB) and Doosan Infracore North America announced a partnership to offer Trimble Earthworks Grade Control Platform as a factory-installed option for Doosan crawler excavators in North America. This 2D machine control system includes a 10-inch Android™ tablet and is designed to enhance grading accuracy and productivity on construction sites. Available through the Doosan dealer network, customers can also upgrade to a 3D system via local SITECH dealers, facilitating improved operational efficiency.

Trimble (NASDAQ: TRMB) announced the acquisition of its Iron Solutions business by Randall-Reilly, a B2B data and analytics platform. This definitive agreement is anticipated to close in Q3 2021, though financial details remain undisclosed. Iron Solutions, which offers analytics and cloud-based systems for the heavy equipment sector, aligns with Randall-Reilly's existing market intelligence solutions. Trimble's CEO stated that this divestiture aids in refocusing on core capabilities and will not materially affect the company’s overall financial results.

Trimble (NASDAQ: TRMB) announced a collaboration with Worldsensing to expand its geospatial automated monitoring portfolio by adding a geotechnical product line. This new offering enables engineers to integrate geotechnical and geospatial data for enhanced monitoring capabilities. Key features include wireless geotechnical sensors, data loggers, and the Trimble 4D Control™ software for real-time notifications. The solution aims to streamline monitoring processes and improve safety by minimizing field visits. Availability is set for July 2021 through Trimble's global distribution channels.

Trimble (NASDAQ: TRMB) has donated to KTH Royal Institute of Technology in Sweden to establish a Technology Lab focused on architecture, engineering, and construction (AEC). This lab aims to enhance KTH's expertise in 3D design and sustainable building practices. Students will gain practical experience with Trimble's advanced tools, including scanning and 3D modeling software, improving their education and future career prospects. The collaboration signifies Trimble's commitment to innovation in the construction sector and aligns with their Connected Construction portfolio.

Trimble (NASDAQ:TRMB) announced the launch of Trimble Vegetation Manager, a modular software solution designed to enhance utility vegetation management. This software aims to reduce operating expenses while improving safety, regulatory compliance, and the reliability of electric infrastructure. With the integration of LiDAR technology, the solution offers tools for assessing vegetation threats and optimizing maintenance priorities. Trimble Vegetation Manager is expected to be available in June 2021, addressing critical utility management challenges linked to vegetation-related outages and safety risks.

Trimble (NASDAQ: TRMB) announced the expansion of its VRS Now^® correction services across mainland Norway, adding over 400,000 square kilometers to its European footprint, which now totals 2.5 million square kilometers. This service provides accurate, reliable centimeter-level positioning for industries like surveying, construction, and agriculture. VRS Now is brand agnostic, works with most GNSS receivers, and is supported by a global team for consistent service. The expansion enhances operational efficiency and productivity for professionals in various sectors.

Trimble (NASDAQ:TRMB) launched the Trimble GuidEx Machine Guidance System on May 10, 2021, designed to enhance navigation for various machines, facilitating precise movement to target areas without the need for survey stakes. This system supports natural resource exploration, improving productivity with features like proximity alarms and real-time data logging. The GuidEx system can be installed on a range of equipment and allows for efficient corridor navigation while integrating with office systems for seamless data transfer, now available globally through SITECH distributors.

Trimble Inc. (NASDAQ: TRMB) reported robust financials for Q1 2021, showcasing a 12% increase in GAAP revenue at $886.5 million and non-GAAP revenue at $886.7 million. Annualized recurring revenue (ARR) reached $1.32 billion, a 9% year-over-year rise. The company posted GAAP operating income of $140.9 million and non-GAAP operating income of $209.2 million. Diluted earnings per share were $0.45 GAAP and $0.66 non-GAAP. Adjusted EBITDA stood at $231.3 million, representing 26.1% of revenue, with operating cash flow surging 26% to $744.5 million.