Trimble Beats Q1 Estimates, Reports 12% Revenue Growth and $317M Buybacks
TRMB•Trimble reported Q1 revenue of $939.9 million, up 12% year-over-year, and non-GAAP earnings per share of $0.79, both surpassing analyst estimates of $903.7 million and $0.72 respectively. The company repurchased $316.9 million of shares and raised full-year revenue guidance to $3.84–3.92 billion, with adjusted EPS projected at $3.47–$3.64.
1. Strong Q1 Financial Performance
Trimble generated $939.9 million in revenue during the first quarter, marking a 12% increase from the prior year, and delivered GAAP EPS of $0.42 and non-GAAP EPS of $0.79, outperforming consensus forecasts.
2. Record Recurring Revenue and Margins
Annualized recurring revenue reached a record $2.435 billion, up 12% year-over-year, while GAAP operating income stood at $144.0 million (15.3% of revenue) and non-GAAP operating income was $243.2 million (25.9% of revenue). Adjusted EBITDA was $257.7 million, representing 27.4% of sales.
3. $316.9 Million Share Repurchases
During the quarter, the company repurchased approximately 4.7 million shares for $316.9 million, underscoring management’s commitment to returning capital and offsetting dilution.
4. Raised Fiscal 2026 Guidance
For fiscal 2026, Trimble increased its full-year revenue forecast to a range of $3.84–3.92 billion and non-GAAP EPS outlook to $3.47–$3.64, while second-quarter guidance anticipates $938–963 million in revenue and $0.78–0.82 in adjusted EPS.
