Trimble Inc. announced financial results for the third quarter of 2022.
Third Quarter 2022 Financial Highlights
- Revenue of $884.9 million, down 2 percent on a year-over-year basis, up 6 percent year-over-year, excluding the effects of divestitures, acquisitions, and foreign currency translation
- Annualized recurring revenue (ARR) was $1.55 billion, up 13 percent year-over-year, up 16 percent on an organic basis
- GAAP operating income was $122.4 million and non-GAAP operating income was $209.9 million
- GAAP net income was $85.8 million and non-GAAP net income was $164.0 million
- Diluted earnings per share was $0.34 on a GAAP basis and $0.66 on a non-GAAP basis
- Adjusted EBITDA of $228.1 million, 25.8 percent of revenue
- Share repurchases of $90.0 million
Executive Quote
"Trimble is transforming and digitizing industries that support how we live, what we eat, and how we move," saidRob Painter,Trimble's president and chief executive officer. "Our third quarterresults simultaneously reflect the quality of the Trimble financialmodel and the reality of evolving macroeconomic challenges. We remaincommitted to executing our Connect and Scale strategy, which enhancesproductivity and sustainability outcomes for our customers."
Forward Looking 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.GAAP guidance assumes a tax rate of 23.5 percent and non-GAAP guidanceassumes a tax rate of 18.3 percent. Both GAAP and non-GAAP earnings pershare assume approximately 250 million shares outstanding. Areconciliation of the non-GAAP measures to the most directly comparableGAAP measures and other information relating to these non-GAAP measuresare included in the supplemental reconciliation scheduled attached.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on November 2, 2022 at 8:00 a.m. ETto review its third quarter 2022 results. An accompanying slidepresentation will be made available on the "Investors" section of theTrimble website, www.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com. Investors without internet access may dial into the call at (888) 660-6347 (U.S.)or (929) 201-6594 (international). The conference ID is 1043223. Thereplay will also be available on the web at the address above.
