Trimble Inc Stock Price, News & Analysis

Trimble Inc. (NASDAQ: TRMB) reported its third-quarter financial results for 2020, showcasing a GAAP revenue of $792.1 million, reflecting a 1% increase year over year. Non-GAAP revenue also rose by 1%, totaling $792.8 million. The company achieved an annualized recurring revenue (ARR) of $1.26 billion, marking a 10% growth. GAAP operating income stood at $102.0 million, while non-GAAP operating income reached $191.8 million. The net income was $84.7 million on a GAAP basis and $152.8 million non-GAAP. Trimble’s adjusted EBITDA equaled $212.5 million, or 26.8% of revenue.

Trimble (NASDAQ: TRMB) announced that Avison Young has implemented its ManhattanONE FlexiDesk and Mobile Booking modules to facilitate a safe return to the office in the UK. The software will enhance control over desk usage with features like QR code check-ins and contact tracing, essential for employee wellbeing. Despite current distancing guidelines limiting occupancy to approximately 25%, the system will help manage workspace allocation effectively. This partnership aims to support employee safety and operational continuity during the phased reopening of Avison Young's 17 UK offices.

Trimble (NASDAQ: TRMB) announces a conference call on November 4, 2020, at 2 p.m. PT, to discuss its third quarter 2020 results. The call will be available via live web broadcast, and investors can join by dialing 800-528-9198 (U.S.) or 702-928-6633 (international) using the passcode 9772188. Trimble focuses on connecting the physical and digital worlds, delivering innovations in positioning, modeling, connectivity, and data analytics across various sectors, including agriculture, construction, and transportation.

Trimble and Boston Dynamics announced a strategic alliance to integrate construction data collection technologies with Boston Dynamics' Spot robot platform. The collaboration aims to automate tasks like site scans and surveying, leveraging Spot's mobility and Trimble's data collection tools. Trimble gains exclusivity in selling the integrated solutions to the construction sector. This alliance targets enhanced efficiency and safety in construction through improved real-time project monitoring. The solution is expected to be available by Q2 2021, with early access for select customers.

Trimble (NASDAQ:TRMB) launched the Telog Raven-Eye 2 flowmeter, a digital solution aimed at optimizing wastewater management. This flowmeter enhances monitoring capabilities to tackle issues like flooding and sewer overflows. Utilizing radar technology, it allows for contactless measurements and is easily installable in high-velocity areas, minimizing maintenance needs. Paired with the Telog Ru-35 recorder and Trimble Unity Remote Monitoring, it offers near real-time data insights, supporting utilities in regulatory compliance and strategic asset management. The product is expected in Q4 2020.

On October 5, 2020, Trimble (NASDAQ: TRMB) announced a definitive agreement for Command Alkon, a Thoma Bravo portfolio company, to acquire its construction logistics business. The transaction, anticipated to close in Q4 2020, combines Trimble's telematics solutions with Command Alkon's fleet and workforce management capabilities. This move aligns with Trimble's strategy to refocus on core construction competencies. Although the sale may enhance Command Alkon's service offerings, Trimble noted that it will not significantly impact its overall financial results.