Trimble’s second-quarter results top Wall Street estimates

WESTMINSTER — Trimble Inc. (Nasdaq: TRMB), which last year moved its headquarters from Silicon Valley to the Boulder Valley, saw its net income slide in the second quarter, but results topped Wall Street analysts’ expectations.

On Thursday morning, the industrial technology company posted second-quarter net income of $44.6 million, down from $168 million in the same period last year.

Adjusted net income was 64 cents per share, ahead of Zack Consensus Estimate of 58 cents per share.

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Trimble’s second-quarter 2023 sales were $993.6 million, also ahead of Wall Street’s expected $979.1 million in revenue for the period. The sales total was also 6% higher than in the second quarter of 2022.

“Our second quarter results demonstrate how Trimble technology enhances productivity and sustainability outcomes for our customers,” Trimble CEO Rob Painter said in a prepared statement.

Trimble’s stock finished trading Thursday at $55.51, up 3.26%.

Looking ahead, Trimble is projecting between $3.85 million and $3.93 billion in full-year sales for 2023.