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FX.co ★ Trimble Q4 Earnings Fall But Revenue Climbs; Stock Down In Pre-market

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typeContent_19130:::2024-02-12T12:39:00

Trimble Q4 Earnings Fall But Revenue Climbs; Stock Down In Pre-market

Trimble Inc., a scientific instruments manufacturer, revealed on Monday a drop in fourth-quarter earnings compared to the previous year. Despite this, the company managed a 9% increase in revenue. As a result, shares of Trimble have dipped approximately 5% in pre-market trading.

The company also provided forecasts for the first quarter and overall fiscal year for 2024. The earnings decreased to $63 million, equivalent to $0.25 per share, down from the previous year’s $85.6 million or $0.34 per share. There was a reported increase in research and development expenses, up to $167.7 million from $134.7 million from the prior year.

Ten analysts surveyed by Thomson Reuters project quarter earnings of $0.59 per share, typically excluding unique items.

Further, revenue witnessed a rise to $932.4 million from last year's $856.5 million, marking a 3% organic growth. The street's revenue expectation is pegged around $911.33 million.

In terms of future projections, Trimble expects non-GAAP (generally accepted accounting principles) earnings per share between $0.57 and $0.62 and revenue between $905 million and $935 million in the coming quarter. Yet, analysts predict earnings per share at $0.68 and revenue to reach about $977.07 million.

In terms of annual forecasts, Trimble signals non-GAAP earnings per share ranging from $2.60 to $2.80 and a revenue grit between $3,570 million and $3,670 million. However, Street estimates earnings at $2.72 per share and a more optimistic revenue projection of $3.84 billion.

During the pre-market activity, Trimble shares were averaging $49.88 a piece, indicating a decrease of 5.01% on the Nasdaq.

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