Trimble Lifts Annual Outlook After Q2 Beat, Launches AI Tool
TRMB sits 21% above its 52-week low of $47.92.
Summary
Trimble raised its full-year revenue and profit forecasts after Q2 results beat expectations. Revenue of $972M topped the $951.9M consensus, and adjusted EPS of $0.86 exceeded the $0.80 estimate. The company now sees FY revenue of $3.90B-$3.95B (up from $3.84B-$3.92B) and adjusted EPS of $3.60-$3.70 (up from $3.47-$3.64). Q3 guidance calls for revenue of $953M-$978M and adjusted EPS of $0.83-$0.88. The upbeat outlook follows a Q2 GAAP loss of $2.02 per share due to a goodwill impairment, but the raised guidance and new $1B buyback signal confidence in underlying demand. Trimble also introduced Arc Agent, an AI tool for transportation and logistics customers. Shares rose 3.5% premarket.
At the time of this announcement, TRMB was trading at $58.20 on NASDAQ in the Technology sector, with a market capitalization of approximately $13.5B. The 52-week trading range was $47.92 to $84.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.