Trimble Q2 2024 Earnings Report
Key Takeaways
Trimble announced strong Q2 2024 results, with revenue and EPS exceeding guidance. ARR reached a record $2.11 billion, and gross margin also hit a record level. The company is raising its full-year guidance for revenue and earnings per share.
Revenue was $870.8 million, down 12 percent year-over-year but up 1 percent organically.
ARR reached $2.11 billion, up 12 percent year-over-year and 14 percent organically.
GAAP EPS was $5.34, and non-GAAP EPS was $0.62.
Adjusted EBITDA was $214.0 million, representing 24.6 percent of revenue.
Trimble
Trimble
Forward Guidance
For the full-year 2024, Trimble expects to report revenue between $3,590 million and $3,670 million, GAAP earnings per share of $6.41 to $6.54, and non-GAAP earnings per share of $2.67 to $2.81. For the third quarter of 2024, Trimble expects to report revenue between $840 million and $880 million, GAAP earnings per share of $0.28 to $0.34, and non-GAAP earnings per share of $0.58 to $0.64.
Positive Outlook
- Full-year 2024 revenue expected between $3,590 million and $3,670 million.
- Full-year 2024 GAAP earnings per share expected between $6.41 and $6.54.
- Full-year 2024 non-GAAP earnings per share expected between $2.67 and $2.81.
- Third quarter 2024 revenue expected between $840 million and $880 million.
- Third quarter 2024 GAAP earnings per share expected between $0.28 and $0.34.
Challenges Ahead
- Third quarter 2024 non-GAAP earnings per share expected between $0.58 and $0.64.
- GAAP guidance assumes a tax rate of 24.0 percent for the full year 2024.
- Non-GAAP guidance assumes a tax rate of 17.2 percent for the full year 2024.
- GAAP guidance assumes a tax rate of 16.2 percent for the third quarter 2024.
- Non-GAAP guidance assumes a tax rate of 17.2 percent for the third quarter 2024.