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Investing.com - Trimble Inc. (NASDAQ:TRMB) reported fourth-quarter earnings and revenue on Wednesday that exceeded analyst expectations, driven by strong growth in recurring revenue and improved margins.
The technology company posted adjusted earnings per share of $0.89, surpassing the analyst consensus of $0.88. Revenue for the quarter came in at $983.4 million, up 5% YoY and 17% on an organic basis, beating estimates of $946.62 million.
"Fiscal 2024 was a transformative year for Trimble. We simplified and focused the Company through portfolio moves and re-segmentation," said Rob Painter, president and CEO of Trimble.
"We also delivered for our customers while strengthening the Company — as evidenced by record levels of software as a percent of total revenue, and record levels of ARR, gross margin and profitability," he added.
For the first quarter of 2025, Trimble expects revenue between $794 million and $824 million, with adjusted EPS of $0.55 to $0.61. The company’s full-year 2025 guidance projects revenue of $3.37 billion to $3.47 billion and adjusted EPS of $2.76 to $2.98.
Trimble’s Board of Directors authorized a new $1 billion share repurchase program, replacing the existing authorization.
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