Trimble grew sales in fourth quarter

WESTMINSTER — Industrial technology company Trimble Inc.’s (Nasdaq: TRMB) stock price was up modestly in early trading Wednesday after the company posted higher year-over-year sales for the fourth quarter of fiscal 2024.

Revenue for the fourth quarter was $983.4 million, up 5% year over year. Net income in the quarter was $90.2 million, up from $63 million in the same period the previous year.

For the full 2024 fiscal year, Trimble’s sales were $3.68 billion, down 3% from the previous year. Net income in 2024 was $1.5 billion, up from $311.3 million in fiscal 2023.

At 10:50 a.m. Wednesday, Trimble’s stock was trading at $76.20, up 1.41% on the day. 

“Fiscal 2024 was a transformative year for Trimble,” Trimble CEO Rob Painter said in a prepared statement. “We simplified and focused the Company through portfolio moves and re-segmentation.” 

Trimble recently closed a sale of its global transportation telematics business unit to California fleet-management technology company Platform Science Inc.

Looking ahead, Trimble expects sales in the first quarter of 2025 to total between $794 million and $824 million. For the full fiscal year, the company is projecting sales between $3.37 billion and $3.47 billion.

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