Trimble (TRMB) Tops Q2 EPS by 5c, Revenues Beat; Offers FY18 Outlook

Trimble (NASDAQ: TRMB) reported Q2 EPS of $0.50, $0.05 better than the analyst estimate of $0.45. Revenue for the quarter came in at $785.5 million versus the consensus estimate of $776.31 million.

"The second quarter revenue and income exceeded our expectations and continued the strong momentum that we have seen during the last year in all segments," said Steven W. Berglund, Trimble's president and chief executive officer. "The performance confirms the strength of our market position and the success of our strategy to transform those markets through technology."

Forward Looking Guidance

For the third quarter of 2018, Trimble expects to report non-GAAP revenue between $795 million and $825 million and non-GAAP earnings per share of $0.43 to $0.47. Because Trimble provided 2018 annual guidance at its investor day, Trimble is updating that guidance. Trimble now expects to report non-GAAP revenue of between $3.14 billion and $3.19 billion for the 2018 fiscal year with non-GAAP earnings per share between $1.81 and $1.89. Starting in the third quarter, Trimble\'s non-GAAP guidance excludes purchase accounting adjustments to acquired deferred revenue as well as the purchase accounting adjustments for commission expense, in addition to the adjustments described in the section on non-GAAP metrics located at the end of this press release. Trimble is unable to provide a quantitative reconciliation of these measures to GAAP with a reasonable degree of accuracy because Trimble has not estimated the fair value of the assets and liabilities, including intangible assets and related amortization expense, associated with the Viewpoint acquisition.

GUIDANCE:

Trimble sees FY2018 EPS of $1.81-$1.89. Trimble sees FY2018 revenue of $3.14-3.19 billion.

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

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