Trimble Announces Third Quarter 2026 Results and Updates Full Year Guidance

All three segments increased quarterly revenue, but Field Systems operating income fell from the prior-year quarter.

Rhea-AI Summary

Trimble (TRMB) reported third-quarter 2026 revenue of $966.8 million, up 7 percent year over year and on an organic basis. Annualized recurring revenue, a yearly measure of recurring revenue, reached $2.56 billion, up 11 percent year over year and 10 percent organically.

GAAP net income fell to $59.1 million from $111.5 million, with diluted earnings per share declining to $0.25 from $0.46. Operating income decreased to $142.0 million from $150.5 million, while gross margin narrowed to 68.2 percent from 68.9 percent. Non-GAAP operating income was $262.6 million, and non-GAAP diluted earnings per share were $0.86.

Trimble repurchased approximately 4.0 million shares for $231.7 million during the quarter. For the first three quarters, operating cash flow rose to $664.7 million from $225.9 million; a $562.0 million goodwill impairment accompanied a GAAP net loss of $313.7 million.

21 points · 0 major

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1 major · 17 points

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Positive

• Moderate pointThird-quarter revenue rose 7 percent to $966.8 million year over year, also growing 7 percent organically.
• Moderate pointAnnualized recurring revenue reached $2.56 billion, up 11 percent year over year and 10 percent organically.
• Moderate pointThird-quarter non-GAAP operating income was $262.6 million, or 27.2 percent of revenue.
• Moderate pointThird-quarter non-GAAP net income was $200.5 million, with diluted earnings per share of $0.86.
• Moderate pointThird-quarter adjusted EBITDA was $278.5 million, or 28.8 percent of revenue.
• Moderate pointThird-quarter repurchases returned $231.7 million through approximately 4.0 million shares bought back. 1.5% of market cap
• Moderate pointFirst-three-quarters GAAP gross margin improved to 68.8 percent from 68.0 percent a year earlier.
• Moderate pointFirst-three-quarters operating income increased to $418.0 million from $375.8 million a year earlier.
• Moderate pointFirst-three-quarters operating cash flow increased to $664.7 million from $225.9 million a year earlier.

12 minor points

• Minor pointAECO quarterly revenue increased to $395.0 million from $358.5 million a year earlier.
• Minor pointAECO quarterly operating income rose to $132.2 million; margin increased to 33.5 percent from 31.8 percent.
• Minor pointField Systems quarterly revenue rose to $435.8 million from $408.7 million a year earlier.
• Minor pointT&L quarterly revenue increased to $136.0 million from $134.0 million a year earlier.
• Minor pointT&L quarterly operating income rose to $35.7 million; margin increased to 26.3 percent from 25.8 percent.
• Minor pointFirst-three-quarters revenue rose to $2,878.7 million from $2,617.5 million a year earlier.
• Minor pointAECO first-three-quarters revenue rose to $1,174.6 million from $1,044.2 million a year earlier.
• Minor pointAECO first-three-quarters operating income rose to $374.3 million; margin increased to 31.9 percent from 29.9 percent.
• Minor pointField Systems first-three-quarters revenue increased to $1,287.5 million from $1,160.6 million a year earlier.
• Minor pointField Systems first-three-quarters operating income rose to $392.5 million, although margin fell to 30.5 percent from 31.4 percent.
• Minor pointT&L first-three-quarters revenue rose to $416.6 million from $412.7 million a year earlier.
• Minor pointT&L first-three-quarters operating income rose to $103.4 million; margin increased to 24.8 percent from 21.6 percent.

Negative

• Major pointFirst-three-quarters goodwill impairment was $562.0 million, versus none a year earlier. 3.7% of market cap
• Moderate pointThird-quarter GAAP net income fell to $59.1 million from $111.5 million a year earlier.
• Moderate pointThird-quarter GAAP operating income fell to $142.0 million from $150.5 million a year earlier.
• Moderate pointThird-quarter GAAP gross margin narrowed to 68.2 percent from 68.9 percent a year earlier.
• Moderate pointThird-quarter operating expenses increased to $517.1 million from $470.6 million a year earlier.
• Moderate pointThird-quarter income tax provision increased to $62.2 million from $13.6 million a year earlier.

11 minor points

• Minor pointThird-quarter GAAP diluted earnings per share declined to $0.25 from $0.46 a year earlier.
• Minor pointThird-quarter non-GAAP gross margin narrowed to 70.5 percent from 71.2 percent a year earlier.
• Minor pointField Systems quarterly operating income fell to $128.7 million; margin declined to 29.5 percent from 33.4 percent.
• Minor pointFirst-three-quarters GAAP net loss was $313.7 million, versus net income of $267.4 million a year earlier.
• Minor pointFirst-three-quarters diluted loss per share was $1.34, versus earnings of $1.10 a year earlier.
• Minor pointFirst-three-quarters operating expenses rose to $1,562.3 million from $1,404.0 million a year earlier.
• Minor pointFirst-three-quarters net interest expense increased to $60.8 million from $55.7 million a year earlier.
• Minor pointFirst-three-quarters income tax provision increased to $121.5 million from $57.4 million a year earlier.
• Minor pointCash declined to $214.5 million from $253.4 million at year-end 2025.
• Minor pointShort-term debt reached $90.2 million, versus none at year-end 2025.
• Minor pointLong-term debt increased to $1,443.3 million from $1,392.2 million at year-end 2025.

News Explained

Trimble has reported third-quarter results; its quarter-end balance sheet lists $1,443.3 million in long-term debt, compared with $1,392.2 million at 2025 year-end.

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Market move: TRMB -7.00% vs previous close. 3Q26 earnings report

$61.02 – $63.55 Day Range

$14.23B Mkt Cap at Last Price

On Nov 4, the day this news came out, the latest delayed price for TRMB is 7.00% below the previous close. Our momentum scanner has recorded 3 alerts for this stock so far that day. The latest delayed price is $61.02. Relative volume is exceptionally heavy at 7.6x what this stock usually trades by this time of day.

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Key Figures

Revenue: $966.8 million; up 7% year over year Annualized recurring revenue: $2.56 billion; up 11% year over year GAAP operating income: $142.0 million +5 more

Revenue

$966.8 million; up 7% year over year

Third quarter 2026

Annualized recurring revenue

$2.56 billion; up 11% year over year

Third quarter 2026

GAAP operating income

$142.0 million

Third quarter 2026

Non-GAAP operating income

$262.6 million

Third quarter 2026

GAAP net income

$59.1 million

Third quarter 2026

Non-GAAP net income

$200.5 million

Third quarter 2026

Diluted earnings per share

$0.25 GAAP; $0.86 non-GAAP

Third quarter 2026

Adjusted EBITDA

$278.5 million; 28.8% of revenue

Third quarter 2026

Previous Earnings Reports

3 past events · Latest: Aug 12

Same Type 3 events

1. Aug 12

   Q2 earnings report

   24h Move

   -2.8%

   Reported Q2 revenue of $972.0 million and raised full-year 2026 revenue and earnings guidance.

2. May 06

   Q1 earnings report

   24h Move

   -7.2%

   Reported Q1 revenue of $939.9 million, record margins, and said it was raising full-year guidance.

3. Nov 05

   Q3 earnings report

   24h Move

   +2.5%

   Reported Q3 revenue of $901.2 million and raised full-year 2025 guidance.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

annualized recurring revenue, gaap, non-gaap, adjusted ebitda

4 terms

annualized recurring revenue financial

"Annualized recurring revenue ("ARR") was $2.56 billion"

Annualized recurring revenue is the predictable income a business expects to earn over a year from ongoing customer subscriptions or contracts. It’s similar to estimating how much money you would make in a year if your current monthly income stayed the same. Investors use this figure to assess the stability and growth potential of a company's revenue stream.

gaap financial

"GAAP operating income was $142.0 million"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial

"non-GAAP operating income was $262.6 million"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

adjusted ebitda financial

"Adjusted EBITDA was $278.5 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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• Executing Connect & Scale strategy to compound value across the Trimble-led ecosystem
• Third quarter results exceeded expectations
• Record annualized recurring revenue

WESTMINSTER, Colo., Nov. 4, 2026 /PRNewswire/ -- Trimble Inc. (Nasdaq: TRMB) today announced financial results for the third quarter of 2026.

Third Quarter 2026 Financial Highlights

• Revenue of $966.8 million, up 7 percent on a year-over-year basis, up 7 percent on an organic basis
• Annualized recurring revenue ("ARR") was $2.56 billion, up 11 percent year-over-year, up 10 percent on an organic basis
• GAAP operating income was $142.0 million, 14.7 percent of revenue, and non-GAAP operating income was $262.6 million, 27.2 percent of revenue
• GAAP net income was $59.1 million and non-GAAP net income was $200.5 million
• Diluted earnings per share was $0.25 on a GAAP basis and $0.86 on a non-GAAP basis
• Adjusted EBITDA was $278.5 million, 28.8 percent of revenue
• During the third quarter, Trimble repurchased approximately 4.0 million shares for $231.7 million

Executive Quote

"Our third quarter results surpassed expectations on both revenue and earnings per share, while delivering record annualized recurring revenue of $2.56 billion," said Rob Painter, President and CEO of Trimble. "Our full year 2026 guidance reflects solid execution against our Connect & Scale strategy, which continues to leverage our unique presence across the physical and digital worlds with our unmatched breadth and depth of connected industry data."

Forward-Looking Guidance

For the full-year 2026, Trimble expects to report revenue between $3,910 million and $3,940 million, GAAP loss per share of $0.55 to $0.49, and non-GAAP earnings per share of $3.63 to $3.69. GAAP guidance assumes a tax rate range between 618.3 percent and 372.6 percent and non-GAAP guidance assumes a tax rate of 17.2 percent. GAAP loss and non-GAAP earnings per share assume approximately 232 million and 234 million shares outstanding, respectively.

For the fourth quarter of 2026, Trimble expects to report revenue between $1,031 million and $1,061 million, GAAP earnings per share of $0.83 to $0.89, and non-GAAP earnings per share of $1.13 to $1.19. GAAP guidance assumes a tax rate of approximately 11.4 percent and non-GAAP guidance assumes a tax rate of 17.1 percent. Both GAAP and non-GAAP earnings per share assume approximately 231 million shares outstanding.

A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.

Investor Conference Call / Webcast Details

Trimble will hold a conference call on November 4, 2026 at 8:00 a.m. ET to review its third quarter of 2026 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, https://investor.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com. Investors and participants who wish to dial into the call may do so by first registering at https://events.q4inc.com/analyst/824595803?pwd=vT4bMLRX. Upon registration, dial-in details will be sent via email to the registrant. A replay will also be available on the web at the address above.

About Trimble

Trimble is a global technology company that connects the physical and digital worlds, transforming the ways work gets done. With relentless innovation in precise positioning, modeling and data analytics, Trimble enables essential industries including construction, geospatial and transportation. Whether it's helping customers build and maintain infrastructure, design and construct buildings, optimize global supply chains or map the world, Trimble is at the forefront, driving productivity and progress. For more information about Trimble (Nasdaq: TRMB), visit: https://www.trimble.com.

Safe Harbor

Certain statements made in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include expectations about our future financial and operational results. These forward-looking statements are subject to change, and actual results may materially differ due to certain risks and uncertainties. The Company's results may be adversely affected if the Company is unable to market, manufacture and ship new products, obtain new customers, effectively integrate new acquisitions or consummate divestitures in a timely manner, or get the benefits we are expecting from our joint ventures and partnerships. The Company's results could also be negatively impacted due to the general global macroeconomic outlook, including evolving trade policies, associated supply chain disruptions and shifts in demand, slowing growth, inflationary pressures, and fluctuations in interest rates, which may affect demand for our products and services, increase our costs and adversely affect our revenues and profitability; the pace at which our dealers work through their inventory; changes in our distribution channels; adverse geopolitical tensions and the ongoing impact of volatility and conflict in the political and economic environment, including the ongoing Middle East conflict, and the direct and indirect impact on our business; fluctuations in foreign currency exchange rates; the pace that we transition our business model towards a subscription model; the impact and risks of AI and AI-related developments; the impact of acquisitions or divestitures; the potential impact of any stock repurchases under our stock repurchase program; and our ability to maintain effective internal controls over financial reporting, including our ability to remediate our material weaknesses in our internal controls over financial reporting. Any failure to achieve predicted results could negatively impact the Company's revenue, cash flow from operations, and other financial results. The Company's financial results will also depend on a number of other factors and risks detailed from time to time in reports filed with the U.S. Securities and Exchange Commission, including our quarterly reports on Form 10-Q and our annual report on Form 10-K. Undue reliance should not be placed on any forward-looking statement contained herein. These statements reflect the Company's position as of the date of this release. The Company expressly disclaims any undertaking to release publicly any updates or revisions to any statements to reflect any change in the Company's expectations or any change of events, conditions, or circumstances on which any such statement is based.

FTRMB

 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
	Third Quarter of				First Three Quarters of
	2026		2025		2026		2025
Revenue:
Product	$          324.3		$          302.5		$          966.9		$          866.9
Subscription and services	642.5		598.7		1,911.8		1,750.6
Total revenue	966.8		901.2		2,878.7		2,617.5
Cost of sales:
Product	172.4		148.9		490.7		437.0
Subscription and services	118.5		114.8		357.9		351.8
Amortization of purchased intangible assets	16.8		16.4		49.8		48.9
Total cost of sales	307.7		280.1		898.4		837.7
Gross margin	659.1		621.1		1,980.3		1,779.8
Gross margin (%)	68.2 %		68.9 %		68.8 %		68.0 %
Operating expense:
Research and development	162.9		152.9		509.5		474.7
Sales and marketing	177.7		158.8		530.1		470.4
General and administrative	124.7		117.5		401.1		356.6
Restructuring	24.9		14.2		40.4		22.7
Amortization of purchased intangible assets	26.9		27.2		81.2		79.6
Total operating expense	517.1		470.6		1,562.3		1,404.0
Operating income	142.0		150.5		418.0		375.8
Non-operating (expense) income, net:
Goodwill impairment	—		—		(562.0)		—
Interest expense, net	(20.4)		(20.7)		(60.8)		(55.7)
Income (loss) from equity method investments, net	0.8		(0.5)		4.2		2.8
Other (loss) income, net	(1.1)		(4.2)		8.4		1.9
Total non-operating expense, net	(20.7)		(25.4)		(610.2)		(51.0)
Income (loss) before taxes	121.3		125.1		(192.2)		324.8
Income tax provision	62.2		13.6		121.5		57.4
Net income (loss)	$            59.1		$          111.5		$        (313.7)		$          267.4
Earnings (loss) per share:
Basic	$            0.25		$            0.47		$          (1.34)		$            1.11
Diluted	$            0.25		$            0.46		$          (1.34)		$            1.10
Shares used in calculating earnings (loss) per share:
Basic	232.4		238.2		233.3		239.9
Diluted	233.2		240.4		233.3		242.0

 

CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
	As of
	Third Quarter of		Year End
	2026		2025
Assets
Current assets:
Cash and cash equivalents	$                               214.5		$                               253.4
Accounts receivable, net	610.9		856.0
Inventories	183.4		186.3
Prepaid expenses	110.7		102.7
Other current assets	236.3		233.5
Total current assets	1,355.8		1,631.9
Property and equipment, net	182.5		182.8
Goodwill	4,822.0		5,239.7
Other purchased intangible assets, net	808.1		924.1
Deferred income tax assets	290.6		260.0
Equity investments	608.4		610.8
Other non-current assets	467.7		462.7
Total assets	$                            8,535.1		$                            9,312.0
Liabilities and Stockholders' Equity
Current liabilities:
Short-term debt	$                                 90.2		$                                     —
Accounts payable	219.8		168.3
Accrued compensation and benefits	141.8		211.7
Deferred revenue	797.8		894.0
Income taxes payable	8.7		17.7
Other current liabilities	202.2		211.7
Total current liabilities	1,460.5		1,503.4
Long-term debt	1,443.3		1,392.2
Deferred revenue, non-current	122.3		104.7
Deferred income tax liabilities	141.7		190.5
Other non-current liabilities	391.5		285.0
Total liabilities	3,559.3		3,475.8
Stockholders' equity:
Common stock	0.2		0.2
Additional paid-in-capital	2,497.4		2,437.9
Retained earnings	2,572.2		3,387.6
Accumulated other comprehensive (loss) income	(94.0)		10.5
Total stockholders' equity	4,975.8		5,836.2
Total liabilities and stockholders' equity	$                            8,535.1		$                            9,312.0

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
	First Three Quarters of
	2026		2025
Cash flow from operating activities:
Net (loss) income	$                             (313.7)		$                               267.4
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	151.7		149.3
Goodwill impairment	562.0		—
Deferred income taxes	(71.1)		(24.3)
Stock-based compensation	118.3		111.1
Other, net	12.8		53.5
(Increase) decrease in assets:
Accounts receivable, net	235.9		195.0
Inventories	7.0		17.3
Other current and non-current assets	(30.2)		(31.1)
Increase (decrease) in liabilities:
Accounts payable	51.7		(13.6)
Accrued compensation and benefits	(67.8)		(71.8)
Deferred revenue	(82.3)		(71.1)
Income taxes payable	(9.0)		(311.5)
Other current and non-current liabilities	99.4		(44.3)
Net cash provided by operating activities	664.7		225.9
Cash flow from investing activities:
Divestitures of businesses, net of cash divested	(2.0)		(6.5)
Acquisitions of businesses, net of cash acquired	(236.5)		(4.4)
Purchases of property and equipment	(21.1)		(19.7)
Other, net	(0.9)		(5.5)
Net cash used in investing activities	(260.5)		(36.1)
Cash flow from financing activities:
Issuance of common stock, net of tax withholdings	(15.7)		1.1
Repurchases of common stock	(552.9)		(727.4)
Proceeds from debt and revolving credit lines	1,158.7		577.2
Payments on debt and revolving credit lines	(1,018.5)		(577.2)
Other, net	(7.9)		(3.0)
Net cash used in financing activities	(436.3)		(729.3)
Effect of exchange rate changes on cash and cash equivalents	(6.8)		24.4
Net decrease in cash and cash equivalents	(38.9)		(515.1)
Cash and cash equivalents - beginning of period (1)	253.4		747.8
Cash and cash equivalents - end of period	$                               214.5		$                               232.7

(1) Includes $9.0 million of cash and cash equivalents classified as held for sale as of January 3, 2025.

 

REPORTING SEGMENTS
(In millions)
(Unaudited)
		Reportable Segments
		AECO		Field Systems		T&L
Third Quarter of 2026
Segment revenue		$                   395.0		$                   435.8		$                   136.0
Cost of sales		63.9		189.6		31.0
Operating expense		198.9		117.5		69.3
Operating income		$                   132.2		$                   128.7		$                     35.7
Operating income %		33.5 %		29.5 %		26.3 %
Third Quarter of 2025
Segment revenue		$                   358.5		$                   408.7		$                   134.0
Cost of sales		58.7		167.4		32.3
Operating expense		185.9		104.6		67.1
Operating income		$                   113.9		$                   136.7		$                     34.6
Operating income %		31.8 %		33.4 %		25.8 %
		Reportable Segments
		AECO		Field Systems		T&L
First Three Quarters of 2026
Segment revenue		$                1,174.6		$                1,287.5		$                   416.6
Cost of sales		187.8		541.9		99.5
Operating expense		612.5		353.1		213.7
Operating income		$                   374.3		$                   392.5		$                   103.4
Operating income %		31.9 %		30.5 %		24.8 %
First Three Quarters of 2025
Segment revenue		$                1,044.2		$                1,160.6		$                   412.7
Cost of sales		177.3		483.5		110.5
Operating expense		555.0		312.8		212.9
Operating income		$                   311.9		$                   364.3		$                     89.3
Operating income %		29.9 %		31.4 %		21.6 %

 

GAAP TO NON-GAAP RECONCILIATION
(Dollars in millions, except per share data)
(Unaudited)
					Third Quarter of						First Three Quarters of
					2026			2025			2026			2025
					Dollar Amount	% of Revenue		Dollar Amount	% of Revenue		Dollar Amount	% of Revenue		Dollar Amount	% of Revenue
REVENUE:
	GAAP revenue:				$    966.8			$    901.2			$  2,878.7			$  2,617.5
GROSS MARGIN:
	GAAP gross margin:				$    659.1	68.2 %		$    621.1	68.9 %		$  1,980.3	68.8 %		$  1,779.8	68.0 %
		Amortization of purchased intangible assets	(A)		16.8			16.4			49.8			48.9
		Stock-based compensation / deferred compensation	(C)		3.5			3.7			11.5			12.2
		Restructuring and other costs	(D)		1.9			0.8			4.7			1.4
	Non-GAAP gross margin:				$    681.3	70.5 %		$    642.0	71.2 %		$  2,046.3	71.1 %		$  1,842.3	70.4 %
OPERATING EXPENSES:
	GAAP operating expenses:				$    517.1	53.5 %		$    470.6	52.2 %		$  1,562.3	54.3 %		$  1,404.0	53.6 %
		Amortization of purchased intangible assets	(A)		(26.9)			(27.2)			(81.2)			(79.6)
		Acquisition / divestiture items	(B)		(13.1)			(1.3)			(42.9)			(12.9)
		Stock-based compensation / deferred compensation	(C)		(29.6)			(32.9)			(109.6)			(102.7)
		Restructuring and other costs	(D)		(28.8)			(21.4)			(48.7)			(41.5)
	Non-GAAP operating expenses:				$    418.7	43.3 %		$    387.8	43.0 %		$  1,279.9	44.5 %		$  1,167.3	44.6 %
OPERATING INCOME:
	GAAP operating income:				$    142.0	14.7 %		$    150.5	16.7 %		$    418.0	14.5 %		$    375.8	14.4 %
		Amortization of purchased intangible assets	(A)		43.7			43.6			131.0			128.5
		Acquisition / divestiture items	(B)		13.1			1.3			42.9			12.9
		Stock-based compensation / deferred compensation	(C)		33.1			36.6			121.1			114.9
		Restructuring and other costs	(D)		30.7			22.2			53.4			42.9
	Non-GAAP operating income:				$    262.6	27.2 %		$    254.2	28.2 %		$    766.4	26.6 %		$    675.0	25.8 %
NON-OPERATING EXPENSE, NET:
	GAAP non-operating expense, net:				$    (20.7)			$    (25.4)			$   (610.2)			$    (51.0)
		Acquisition / divestiture items	(B)		(2.9)			6.2			(12.5)			(1.7)
		Deferred compensation	(C)		0.1			(1.9)			(2.8)			(3.9)
		Restructuring and other costs	(D)		2.7			2.9			7.4			5.8
		Goodwill impairment	(E)		—			—			562.0			—
	Non-GAAP non-operating expense, net:				$    (20.8)			$    (18.2)			$    (56.1)			$    (50.8)
						Tax Rate %			Tax Rate %			Tax Rate %			Tax Rate %
						(G)			(G)			(G)			(G)
INCOME TAX PROVISION:
	GAAP income tax provision:				$      62.2	51.3 %		$      13.6	10.9 %		$    121.5	(63.2) %		$      57.4	17.7 %
		Non-GAAP items tax effected	(F)		(20.9)			27.7			1.1			51.3
	Non-GAAP income tax provision:				$      41.3	17.1 %		$      41.3	17.5 %		$    122.6	17.3 %		$    108.7	17.4 %
NET INCOME (LOSS):
	GAAP net income (loss):				$      59.1			$    111.5			$   (313.7)			$    267.4
		Amortization of purchased intangible assets	(A)		43.7			43.6			131.0			128.5
		Acquisition / divestiture items	(B)		10.2			7.5			30.4			11.2
		Stock-based compensation	(C)		33.2			34.7			118.3			111.0
		Restructuring and other costs	(D)		33.4			25.1			60.8			48.7
		Goodwill impairment	(E)		—			—			562.0			—
		Non-GAAP tax adjustments	(F)		20.9			(27.7)			(1.1)			(51.3)
	Non-GAAP net income:				$    200.5			$    194.7			$    587.7			$    515.5
DILUTED NET INCOME (LOSS) PER SHARE:
	GAAP diluted net income (loss) per share:				$      0.25			$      0.46			$    (1.34)			$      1.10
		Amortization of purchased intangible assets	(A)		0.19			0.18			0.56			0.53
		Acquisition / divestiture items	(B)		0.04			0.03			0.13			0.05
		Stock-based compensation	(C)		0.15			0.15			0.50			0.46
		Restructuring and other costs	(D)		0.14			0.10			0.26			0.20
		Goodwill impairment	(E)		—			—			2.40			—
		Non-GAAP tax adjustments	(F)		0.09			(0.11)			—			(0.21)
	Non-GAAP diluted net income per share:				$      0.86			$      0.81			$      2.51			$      2.13
ADJUSTED EBITDA:
	GAAP operating income:				$    142.0	14.7 %		$    150.5	16.7 %		$    418.0	14.5 %		$    375.8	14.4 %
		Amortization of purchased intangible assets	(A)		43.7			43.6			131.0			128.5
		Acquisition / divestiture items	(B)		13.1			1.3			42.9			12.9
		Stock-based compensation / deferred compensation	(C)		33.1			36.6			121.1			114.9
		Restructuring and other costs	(D)		30.7			22.2			53.4			42.9
	Non-GAAP operating income:				262.6	27.2 %		254.2	28.2 %		766.4	26.6 %		675.0	25.8 %
		Depreciation expense and cloud computing amortization			12.3			12.3			36.1			36.6
		Income from equity method investments, net			3.6			2.9			11.7			9.8
	Adjusted EBITDA:				$    278.5	28.8 %		$    269.4	29.9 %		$    814.2	28.3 %		$    721.4	27.6 %
					First Three Quarters of
					2026			2025
FREE CASH FLOW:
	Net cash provided by operating activities				$                        664.7			$                        225.9
	Capital expenditures				21.1			19.7
	Free cash flow				$                        643.6			$                        206.2
					Fourth Quarter of 2026			Year 2026
					Low End	High End		Low End	High End
FORECASTED DILUTED NET INCOME (LOSS) PER SHARE:
	Forecasted GAAP diluted net income (loss) per share:				$      0.83	$   0.89		$    (0.55)	$  (0.49)
		Amortization of purchased intangible assets	(A)		0.18	0.18		0.75	0.75
		Acquisition / divestiture items	(B)		0.03	0.03		0.16	0.16
		Stock-based compensation	(C)		0.15	0.15		0.66	0.66
		Restructuring and other costs	(D)		0.06	0.06		0.32	0.32
		Goodwill impairment	(E)		—	—		2.42	2.42
		Non-GAAP tax adjustments	(F)		(0.12)	(0.12)		(0.13)	(0.13)
	Forecasted non-GAAP diluted net income per share:				$      1.13	$   1.19		$      3.63	$   3.69

FOOTNOTES TO GAAP TO NON-GAAP RECONCILIATION

This press release includes GAAP financial measures as well as non-GAAP financial measures, which are not meant to be considered in isolation or as a substitute for comparable GAAP measures. We believe non-GAAP financial measures provide useful information to investors and others in understanding our "core operating performance", which excludes (i) the effect of non-cash items and certain variable charges not expected to recur and (ii) transactions that are not meaningful in comparison to our past operating performance or not reflective of ongoing financial results. Lastly, we believe that our core operating performance offers a supplemental measure for period-to-period comparisons and can be used to evaluate our historical and prospective financial performance, as well as our performance relative to competitors.

The non-GAAP definitions and explanations to the adjustments to comparable GAAP measures are included below:

Non-GAAP Definitions

Non-GAAP gross margin

We define Non-GAAP gross margin as GAAP gross margin, excluding the effects of amortization of purchased intangible assets, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP gross margin as a way of understanding how product mix, pricing decisions, and manufacturing costs influence our business.

Non-GAAP operating expenses

We define Non-GAAP operating expenses as GAAP operating expenses, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe this measure is important to investors evaluating our non-GAAP spending in relation to revenue.

Non-GAAP operating income

We define Non-GAAP operating income as GAAP operating income, excluding the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs. We believe our investors benefit by understanding our non-GAAP operating income trends, which are driven by revenue, gross margin, and spending.

Non-GAAP non-operating expense, net

We define Non-GAAP non-operating expense, net as GAAP non-operating expense, net, excluding goodwill impairment, acquisition/divestiture items, deferred compensation, and restructuring and other costs. We believe this measure helps investors evaluate our non-operating expense trends.

Non-GAAP income tax provision

We define non-GAAP income tax provision as the GAAP income tax provision adjusted for the tax effects of the non-GAAP pre-tax adjustments (A) through (E), excluding certain tax charges and benefits such as net deferred tax impacts resulting from tax amortization related to a non-U.S. intercompany transfer of intellectual property and certain acquisitions, deferred tax impacts from net controlled foreign corporation tested income ("net CFC tested income", formerly referred to as global intangible low-taxed income or "GILTI"), significant reserve releases upon the expiration of statute of limitations and audit closures, and tax law changes. We believe this measure helps investors because it provides for consistent treatment of excluded items in our non-GAAP presentation.

Non-GAAP net income

We define Non-GAAP net income as GAAP net income (loss), excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. This measure provides a supplemental view of net income trends, which are driven by non-GAAP income before taxes and our non-GAAP tax rate.

Non-GAAP diluted net income per share

We define Non-GAAP diluted net income per share as GAAP diluted net income (loss) per share, excluding the effects of goodwill impairment, amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments. We believe our investors benefit by understanding our non-GAAP operating performance as reflected in a per share calculation as a way of measuring non-GAAP operating performance by ownership in the Company.

Adjusted EBITDA

We define Adjusted EBITDA as non-GAAP operating income plus depreciation expense, cloud computing amortization, and income from equity method investments, net, which excludes our proportionate share of items such as amortization of purchased intangibles, stock-based compensation, and restructuring costs. Other companies may define Adjusted EBITDA differently. Adjusted EBITDA is a performance measure that we believe offers a useful view of the overall operations of our business because it facilitates operating performance comparisons by removing potential differences caused by variations unrelated to operating performance, such as capital structures (interest expense), income taxes, depreciation, amortization of purchased intangibles and cloud computing costs, and income from equity method investments, net.

Free cash flow

We define free cash flow as cash flow from operating activities minus capital expenditures. We believe this measure is important to investors evaluating our generation of cash flow.

Explanations of Non-GAAP adjustments

(A)	Amortization of purchased intangible assets. Non-GAAP gross margin and operating expenses exclude the amortization of purchased intangible assets, which primarily represents technology and/or customer relationships already developed.
(B)	Acquisition / divestiture items. Non-GAAP gross margin and operating expenses exclude costs consisting of external and incremental costs resulting directly from acquisitions, divestitures, and strategic investment activities such as legal, due diligence, integration, and other costs, including the acceleration of acquisition stock awards and adjustments to the fair value of earn-out liabilities. Non-GAAP non-operating expense, net, excludes one-time acquisition/divestiture charges, including foreign currency exchange rate gains/losses related to an acquisition, divestiture gains/losses, and strategic investment gains/losses. These are one-time costs that vary significantly in amount and timing and are not indicative of our core operating performance.
(C)	Stock-based compensation / deferred compensation. Non-GAAP gross margin and operating expenses exclude stock-based compensation and income or expense associated with movement in our non-qualified deferred compensation plan liabilities. Changes in non-qualified deferred compensation plan assets, included in non-operating expense, net, offset the income or expense in the plan liabilities.
(D)	Restructuring and other costs. Non-GAAP gross margin and operating expenses exclude restructuring costs composed of termination benefits related to reductions in employee headcount and other cost-saving initiatives, costs related to executive severance agreements, closure or exit of facilities, and cancellation of certain contracts, and other costs composed of one-time incremental expenses resulting from the re-audit and related remediation of control deficiencies. Non-GAAP non-operating expense net, excludes our proportionate share of items recorded in income from equity method investment items, such as goodwill impairment, amortization of purchased intangibles, stock-based compensation, and restructuring costs.
(E)	Goodwill Impairment. Non-GAAP non-operating expense, net excludes the goodwill impairment charge related to our T&L segment. The impairment was triggered by a sustained decline in market capitalization and stock price reflecting heightened macroeconomic uncertainty and lower market multiples for software businesses.
(F)	Non-GAAP items tax effected. This amount represents the income tax effect of non-GAAP pre-tax adjustments, excluding certain tax charges and benefits, which reconcile the GAAP income tax provision to the non-GAAP income tax provision.
(G)	Tax rate percentages. These percentages are defined as GAAP income tax provision as a percentage of GAAP income before taxes and non-GAAP income tax provision as a percentage of non-GAAP income before taxes.

OTHER KEY METRICS

Annualized Recurring Revenue 

In addition to providing non-GAAP financial measures, Trimble provides an ARR performance measure in order to provide investors with a supplementary indicator of the value of the Company's current recurring revenue contracts. ARR represents the estimated annualized value of recurring revenue. ARR is calculated by taking our subscription and maintenance and support revenue for the current quarter and adding the portion of the contract value of all our term licenses attributable to the current quarter, then dividing that sum by the number of days in the quarter and then multiplying that quotient by 365. ARR should be viewed independently of revenue and deferred revenue as it is a performance measure and is not intended to be combined with or to replace either of those items.

Organic Annualized Recurring Revenue

Organic annualized recurring revenue refers to annualized recurring revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.

Organic Revenue

Organic revenue refers to revenue excluding the impacts of (i) foreign currency translation and (ii) acquisitions and divestitures that closed in the prior 12 months.

 

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SOURCE Trimble

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Trimble's third-quarter 2026 revenue and earnings per share?

Trimble reported revenue of $966.8 million and GAAP diluted earnings per share of $0.25. Revenue increased 7 percent year over year and 7 percent organically, while GAAP diluted earnings per share declined from $0.46. Non-GAAP diluted earnings per share were $0.86.

How much stock did Trimble repurchase in the third quarter of 2026?

Trimble repurchased approximately 4.0 million shares for $231.7 million during the third quarter of 2026.