Business
Trimble Announces Record Third Quarter 2021 Results
- Record third quarter total revenue of $901 million, up 14 percent - Annualized recurring revenue of $1.36 billion, up 8 percent and 11 percent on an organic
About this update from Trimble Inc.
[{"type":"text","content":"- Record third quarter total revenue of $901 million, up 14 percent\n - Annualized recurring revenue of $1.36 billion, up 8 percent and 11 percent on an organic basis\n - Raises full-year guidance\n\n\nSUNNYVALE, Calif., Nov. 3, 2021 /PRNewswire/ -- Trimble Inc. (NASDAQ: TRMB) today announced financial results for the third quarter of 2021.\nThird Quarter 2021 Financial Highlights\nGAAP revenue of $901.4 million, up 14 percent year over year, and non-GAAP revenue of $901.4 million, up 14 percent year over year Annualized recurring revenue (ARR) was $1.36 billion, up 8 percent year over year GAAP operating income was $147.5 million and non-GAAP operating income was $214.7 million GAAP net income was $124.0 million and non-GAAP net income was $168.6 million Diluted earnings per share was $0.49 on a GAAP basis and $0.66 on a non-GAAP basis Adjusted EBITDA of $233.4 million, 25.9 percent of revenue Operating cash flow on a trailing twelve months basis was $783.5 million, up 29 percent year over year Share repurchases of $100 millionExecutive Quote\n\"Trimble technology is transforming industries that support how we live, what we eat, how we move,\" said Rob Painter, Trimble's president and chief executive officer. \"Growth in total revenue, annualized recurring revenue, and adjusted EBITDA in the third quarter demonstrate the value of our ongoing commitment to innovation for our end markets as they continue to digitize.\"\nForward Looking Guidance\nFor the full-year 2021, Trimble now expects to report GAAP revenue between $3,590 million and $3,640 million and GAAP earnings per share of $1.69 to $1.77, and non-GAAP revenue between $3,590 million and $3,640 million and non-GAAP earnings per share of $2.61 to $2.69. GAAP guidance assumes a tax rate of 17.0 to 18.0 percent and non-GAAP guidance assumes a tax rate of 17.5 to 18.0 percent. Both GAAP and non-GAAP earnings per share assume approximately 254 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 scheduled attached.\nInvestor Conference Call / Webcast Details\nTrimble will hold a conference call on November 3, 2021 at 2:00 p.m. PT to review its third quarter 2021 results. An accompanying slide presentation will ...