FX.co ★ Trimble Inc. Q1 Profit Decreases, but beats estimates

Trimble Inc. recently announced its first quarter earnings, which although decreased from last year, surpassed the estimates set by Wall Street.

The earnings for the company were reported to be $57.2 million, which translates to $0.23 per share. This is a decrease from the earnings in the first quarter of the previous year, which were logged at $128.8 million, or $0.52 per share.

However, taking certain items into account, Trimble Inc. reported adjusted earnings of $159.1 million, which equates to $0.64 per share for this quarter. Thomson Reuters collated figures indicating that, on average, analysts had anticipated the company to earn $0.62 per share. These estimates typically exclude special items.

In terms of revenue for the quarter, the company has seen a 4.1% growth, rising to $953.3 million from $915.4 million the previous year.

To provide an overview, Trimble Inc.'s earnings (according to GAAP) for the first quarter were $57.2 million, a decrease from $128.8 million in the same period last year. Additionally, EPS (earnings per share) for Q1 was $0.23, a slight dip compared to last year's $0.52. Revenue for the first quarter increased to $953.3 million from $915.4 million in the previous year.

Looking ahead, the company's guidance for the next quarter projects an EPS between $0.56 and $0.60 and revenue estimates range from $845 million to $875 million. For the full year, the EPS guidance ranges from $2.60 to $2.80 and they expect revenue to be around $3.57 billion to $3.67 billion.