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Trimble Inc. (TRMB), headquartered in Westminster, Colorado, provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. Valued at $17.5 billion by market cap, the company integrates its positioning expertise in GPS, laser, optical and inertial technologies with application software, wireless communications, and services to provide complete commercial solutions. The leading industrial technology company is expected to announce its fiscal fourth-quarter earnings for 2024 on Monday, Feb. 10.
Ahead of the event, analysts expect TRMB to report a profit of $0.75 per share on a diluted basis, up 41.5% from $0.53 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect TRMB to report EPS of $2.34, up 6.4% from $2.20 in fiscal 2023. Its EPS is expected to rise 13.3% year over year to $6.13 in fiscal 2026.
TRMB stock has outperformed the S&P 500’s ($SPX) 24.4% gains over the past 52 weeks, with shares up 41.9% during this period. Similarly, it outperformed the Technology Select Sector SPDR Fund’s (XLK) 20.8% gains over the same time frame.
Trimble is outperforming thanks to its partnership with QUALCOMM Incorporated (QCOM) to deliver high-precision positioning solutions for autonomous vehicles. The collaboration integrates Trimble's ProPoint Go engine with Qualcomm's Snapdragon Auto platform, driving growth in software and recurring subscription revenue. Trimble's focused approach to execution and growth, including divesting non-core businesses, demonstrates its commitment to simplifying and improving its business. With the adoption of digital technology and data analytics in the industrial sector on the rise, Trimble has significant growth potential, making it a compelling choice for growth investors.
On Nov. 6, TRMB shares closed up more than 17% after reporting its Q3 results. Its adjusted EPS of $0.70 topped Wall Street expectations of $0.62. The company’s revenue was $875.8 million, exceeding Wall Street forecasts of $866.3 million. For Q4, TRMB expects its adjusted EPS to be between $0.83 and $0.91, and it expects revenue in the range of $925 million to $965 million.
Analysts’ consensus opinion on TRMB stock is bullish, with a “Strong Buy” rating overall. Out of 11 analysts covering the stock, nine advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and one gives a “Hold.” TRMB’s average analyst price target is $87.05, indicating a potential upside of 19.7% from the current levels.
