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Sep 30, 2022
Trimble Q3 2022 Earnings Report
Reported a decrease in total revenue but an increase in annualized recurring revenue and record gross margins.
Key Takeaways
Trimble announced its Q3 2022 financial results, reporting a total revenue of $885 million, down 2% year-over-year, but up 6% on an organic basis. The company achieved a record annualized recurring revenue of $1.55 billion, up 16% on an organic basis, and record GAAP and non-GAAP gross margins of 58.2% and 60.9%, respectively. GAAP net income was $85.8 million, and non-GAAP net income was $164.0 million.
Record annualized recurring revenue of $1.55 billion, up 16 percent on an organic basis
Third quarter total revenue of $885 million, down 2 percent year-over-year, up 6 percent year-over-year on an organic basis
Record GAAP gross margin of 58.2% and record non-GAAP gross margin of 60.9%
Share repurchases of $90.0 million
Forward Guidance
For the full-year 2022, Trimble now expects to report revenue between $3,665 million and $3,715 million and GAAP earnings per share of $1.76 to $1.81, and non-GAAP earnings per share between $2.61 and $2.67.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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