Trimble reported 12% year-over-year revenue growth and raised full-year guidance amid strong recurring revenue and share buybacks.
Trimble Inc. posted first-quarter revenue of $939.9 million, up 12% year-over-year, driven by growth in recurring revenue and improved margins. Annualized recurring revenue reached $2.43 billion, a 12% increase, while GAAP operating income rose 15.3% to $144 million.
Non-GAAP net income totaled $186.9 million, or $0.79 per diluted share, with adjusted EBITDA at $257.7 million. The company repurchased 4.7 million shares for $316.9 million during the quarter.
Trimble expects full-year revenue between $3.835 billion and $3.915 billion, with earnings per share projected at $3.47 to $3.64. The results reflect strength in its Connect & Scale strategy, which integrates data workflows across construction, agriculture, and transportation sectors.