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Sep 30, 2020
Trimble Q3 2020 Earnings Report
Trimble's Q3 2020 results showed resilience despite a challenging macroeconomic environment, with growth in annualized recurring revenue and operating margin.
Key Takeaways
Trimble reported GAAP revenue of $792.1 million, a 1% increase year-over-year. Annualized recurring revenue (ARR) grew by 10% to $1.26 billion. GAAP net income was $84.7 million, with diluted earnings per share at $0.34. The company's financial model proved resilient despite the global economic uncertainty.
GAAP revenue reached $792.1 million, up 1% year over year.
Annualized recurring revenue (ARR) increased by 10% year over year, reaching $1.26 billion.
GAAP operating income was $102.0 million.
Diluted earnings per share was $0.34 on a GAAP basis.
Trimble
Trimble
Forward Guidance
Trimble is not providing a financial outlook for the fourth quarter of 2020 due to continued global economic uncertainty caused by the COVID-19 pandemic.
Challenges Ahead
- Global economic uncertainty due to the COVID-19 pandemic will impact financial results.
- Inability to market, manufacture, and ship new products could adversely affect results.
- Failure to obtain new customers could negatively impact the company.
- Ineffective integration of new acquisitions may harm financial performance.
- Further deterioration in economic conditions as a result of the COVID-19 pandemic may negatively affect results.