Trimble (TRMB) Tops Q4 EPS by 10c, Revenues Beat

Trimble (NASDAQ: TRMB) reported Q4 EPS of $0.61, $0.10 better than the analyst estimate of $0.51. Revenue for the quarter came in at $829.7 million versus the consensus estimate of $785.69 million.

Fourth Quarter 2020 Financial Highlights

• GAAP revenue of $829.7 million, up 1 percent year over year, and non-GAAP revenue of $830.0 million, flat year over year. Fourth quarter 2020 was a 13-week quarter and fourth quarter 2019 was a 14-week quarter.
• Annualized recurring revenue (ARR) of $1.3 billion, up 9 percent year over year
• GAAP operating income was $121.9 million and non-GAAP operating income was $196.7 million
• GAAP net income was $180.3 million and non-GAAP net income was $155.6 million
• Diluted earnings per share was $0.71 on a GAAP basis, and $0.61 on a non-GAAP basis
• Adjusted EBITDA was $216.5 million, 26.1 percent of non-GAAP revenue

Executive Quote"Our fourth quarter results exceeded expectations, enabling us to finish the year with solid financial performance," said Rob Painter, Trimble's president and chief executive officer. "We experienced growth in annualized recurring revenue, adjusted EBITDA and operating cash flow. While we enter 2021 expecting ongoing market ambiguities, we enter with confidence and resolve to execute our Connect and Scale 2025 strategy."

For earnings history and earnings-related data on Trimble (TRMB) click here.

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