Trimble Inc. (NASDAQ: TRMB) manufactures automation tools for industrial and agricultural equipment. The company recently released a strong report for the second quarter of 2021. TRMB exceeded expectations and also launched its own venture capital fund for innovation.
Trimble Inc. (TRMB) had record revenues of $945 million (+ 29% year-over-year) in the past quarter. Recurring revenues increased by 11% while operating cash flow increased by 42% to $797.6 million. The company earned $0.55 per diluted share.
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Growth in key segments helped the company to achieve its best performance in history. Firstly, these are construction, agricultural, cartography, and infrastructure management equipment and services. Specifically, revenue from the transportation segment increased by 9% to $163.3 million. Remember that Trimble Inc. (TRMB) is a technology supplier for logistics companies, transport brokers, and fleet owners. In this market, the normal flow of transportation is restored after the COVID-19 crisis impacted it.
TRMB is pursuing an approach that makes it easy for people to connect and scales up gradually until 2025. By implementing this ecosystem engagement strategy, the company hopes to expand its audience as well as encourage existing customers to purchase additional products.
Trimble Inc. (TRMB) expects revenues of $3.55 – $3.65 billion and a GAAP profit of $1.53 – $1.71 per share by the end of 2021. TRMB traded at $88.60 on August 17.
TRMB shares have climbed by 74.31 percent in the last year, but have been down by -0.44 percent in the last week. The stock went up 17.41% in the last three months but has fallen 22.24 percent in the last six months. Additionally, the company’s current market capitalization is $22.22 billion, with 251.50 million outstanding shares.