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Jun 30, 2023
Trimble Q2 2023 Earnings Report
Reported a revenue increase of 6% year-over-year and record annualized recurring revenue, demonstrating strong execution of the Connect and Scale strategy.
Key Takeaways
Trimble announced its Q2 2023 financial results, highlighting a 6% year-over-year increase in total revenue to $993.6 million and a record annualized recurring revenue of $1.88 billion, up 24% year-over-year (14% organically). The company's GAAP EPS was $0.18, while non-GAAP EPS reached $0.64. Trimble's performance reflects the effectiveness of its technology in enhancing customer productivity and sustainability.
Record annualized recurring revenue of $1.88 billion, up 14 percent on an organic basis.
Total revenue reached $994 million, up 6 percent year-over-year (3 percent organically).
GAAP gross margin was 60.8 percent, and non-GAAP gross margin was 64.2 percent.
Adjusted EBITDA was $251.5 million, representing 25.3 percent of revenue.
Forward Guidance
For Q3 2023, Trimble expects revenue between $945 million and $985 million, GAAP EPS of $0.20 to $0.27, and non-GAAP EPS of $0.56 to $0.64. For the full year 2023, revenue is expected to be between $3,845 million and $3,925 million, GAAP EPS of $1.22 to $1.37, and non-GAAP EPS of $2.57 to $2.73.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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