Trimble Inc. announced financial results for the first quarter of 2026.
First Quarter 2026 Financial Highlights
- Revenue of $939.9 million, up 12 percent on a year-over-year basis, up 12 percent on an organic basis
- Annualized recurring revenue ("ARR") was $2.43 billion, up 12 percent year-over-year, up 12 percent on an organic basis
- GAAP operating income was $144.0 million, 15.3 percent of revenue, and non-GAAP operating income was $243.2 million, 25.9 percent of revenue
- GAAP net income was $98.9 million and non-GAAP net income was $186.9 million
- Diluted earnings per share ("EPS") was $0.42 on a GAAP basis and $0.79 on a non-GAAP basis
- Adjusted EBITDA was $257.7 million, 27.4 percent of revenue
- During the first quarter, Trimble repurchased approximately 4.7 million shares for $316.9 million
Executive Quote
"We began the year with strong momentum, delivering record annualized recurring revenue of $2.435 billion in the first quarter, and surpassing expectations on both top and bottom lines," said Rob Painter, president and CEO of Trimble. "Our Connect & Scale strategy connects people, data, workflow and ecosystems. In an AI-forward world, Trimble is the intelligence and execution layer that reconciles the digital model with physical reality."
Forward-Looking Guidance
For the full-year 2026, Trimble expects to report revenue between $3,835 million and $3,915 million, GAAP earnings per share of $2.05 to $2.21, and non-GAAP earnings per share of $3.47 to $3.64. GAAP guidance assumes a tax rate of 21.0 percent and non-GAAP guidance assumes a tax rate of 17.5 percent. Both GAAP and non-GAAP earnings per share assume approximately 235 million shares outstanding.
For the second quarter of 2026, Trimble expects to report revenue between $938 million and $963 million, GAAP earnings per share of $0.38 to $0.42, and non-GAAP earnings per share of $0.78 to $0.82. GAAP guidance assumes a tax rate of 23.0 percent and non-GAAP guidance assumes a tax rate of 17.5 percent. Both GAAP and non-GAAP earnings per share assume approximately 234 million shares outstanding.
A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures and other information relating to these non-GAAP measures are included in the supplemental reconciliation schedule attached.
Investor Conference Call / Webcast Details
Trimble will hold a conference call on May 6, 2026 at 8:00 a.m. ET to review its first quarter of 2026 results. An accompanying slide presentation will be made available on the "Investors" section of the Trimble website, https://investor.trimble.com, under the subheading "Events & Presentations." The call will be broadcast live on the web at https://investor.trimble.com.
