TRIMBLE INC Reports Earnings Results for Fiscal Year 2023 Q2
August 5, 2023
🌥️Earnings Overview
On August 3 2023, TRIMBLE INC ($NASDAQ:TRMB) reported their earnings results for FY2023 Q2, as of June 30 2023. The total revenue achieved in the second quarter was USD 993.6 million which represented a 5.6% year-on-year increase. Unfortunately, their reported net income was down 73.5% year-on-year, at USD 44.6 million.
Market Price
On Thursday, TRIMBLE INC reported its earnings results for the second quarter of the fiscal year 2023. The stock opened at $52.5 and closed at $55.5, a 3.3% increase from the previous day’s closing price of 53.8. This marked the highest closing price for TRIMBLE INC since April of this year, demonstrating strong momentum in the market. This increase was attributed to strong demand for its commercial solutions, such as remote site monitoring, asset tracking, and fleet management.
This performance was driven by strong operational and cost efficiency improvements within the company. Overall, TRIMBLE INC’s financial performance was strong for the quarter and the company is optimistic about its outlook for the rest of 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Trimble Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.65k | 344.8 | 7.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Trimble Inc. More…
| Operations | Investing | Financing |
| 540.5 | -2.45k | 1.8k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Trimble Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.56k | 5.22k | 17.48 |
Key Ratios Snapshot
Some of the financial key ratios for Trimble Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.2% | 6.0% | 14.6% |
| FCF Margin | ROE | ROA |
| 13.9% | 7.8% | 3.5% |
Analysis
At GoodWhale, we’ve conducted financial analysis of TRIMBLE INC and assigned it a Risk Rating of medium risk. This rating means that there are some risks associated with the investment. However, our risk analysis has detected one risk warning in the balance sheet. If you are interested in learning more about this risk warning, please register with us. We are confident that our comprehensive analysis will provide you with a clear understanding of the risks associated with your investment decision. More…
Peers
The competition among Trimble Inc, SRT Marine Systems PLC, Shanghai Huace Navigation Technology Ltd, and Topcon Corp is fierce. All four companies are leaders in the GPS navigation industry and are constantly innovating to stay ahead of the competition. Trimble Inc has been the top GPS navigation company for many years, but its competitors are quickly catching up. SRT Marine Systems PLC is a publicly traded company on the London Stock Exchange and is the largest GPS navigation company in the world. Shanghai Huace Navigation Technology Ltd is a privately held company based in China and is one of the fastest growing GPS navigation companies. Topcon Corp is a Japanese company that has been in the GPS navigation industry for over 50 years.
– SRT Marine Systems PLC ($LSE:SRT)
SRT Marine Systems PLC is a marine technology company that provides integrated solutions for the maritime industry. The company offers a range of products and services, including navigation, communication, bridge systems, and data management. It also provides engineering and support services. The company has a market cap of 59.17M as of 2022 and a return on equity of -44.18%.
– Shanghai Huace Navigation Technology Ltd ($SZSE:300627)
Shanghai Huace Navigation Technology Ltd is a Chinese company that manufactures and sells navigation and communication products. The company has a market capitalization of $16.9 billion as of 2022 and a return on equity of 8.69%. The company’s products include GPS receivers, marine navigation products, and aviation products.
– Topcon Corp ($TSE:7732)
Topcon Corporation is a Japanese technology company that manufactures precision instruments and equipment for measuring, surveying, and machine control. The company has a market capitalization of 168.63 billion as of 2022 and a return on equity of 11.65%. Topcon’s products are used in a variety of industries, including construction, agriculture, surveying, and mapping. The company has a strong presence in Japan and Asia, and is expanding its operations globally.
Summary
Investing analysis of Trimble Inc. reveals a mixed picture in the second quarter of FY2023. Total revenue increased by 5.6% year-on-year, to USD 993.6 million, indicating continued strength of the company.
However, net income was down a substantial 73.5%, to USD 44.6 million, weighing on overall performance. This weaker performance contributed to a rise in the stock price on August 3rd. Investors should continue to monitor the financials of Trimble Inc, as its performance in the upcoming quarter and beyond will be critical to its outlook.
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