Trimble’s full-year 2023 sales up, earnings dip

WESTMINSTER — Industrial technology company Trimble Inc. (Nasdaq: TRMB) posted higher year-over-year sales in the fourth quarter of 2023 and for the full 2023 fiscal year, but net income dipped for both periods.

Trimble posted revenue of $932.4 million in the fourth quarter of last year, up 9% compared to the same period in 2022.

Net income in the fourth quarter of 2023 was $63.0 million, down from $85.6 million in the same period of 2022. 

For the full 2023 fiscal year, the company’s sales were nearly $3.8 billion, up 3% from 2022.

Net income in 2023 was $311 million, down from $449.7 million in 2022.

 “We enter 2024 with resolve to continue executing our strategy and returning capital to shareholders, while navigating macroeconomic uncertainties,” Trimble CEO Rob Painter said in a prepared statement. 

For the first quarter of 2024, Trimble expects to report revenue between $905 million and $935 million.