Trimble Reports Record Q1 2026 Results and Raises Full-Year Guidance

WESTMINSTER, Colo., May 6, 2026 — Trimble Inc. (Nasdaq: TRMB) has released its financial results for the first quarter of 2026, delivering a set of numbers that surpassed expectations and set new company records. The technology company, known for connecting the digital and physical worlds in essential industries such as construction, geospatial, and transportation, continues to execute on its “Connect & Scale” strategy.

Key Financial Highlights

• Revenue: \$939.9 million, up 12% year-over-year on both a reported and organic basis.
• Annualized Recurring Revenue (ARR): Reached a record \$2.43 billion, up 12% year-over-year on both a reported and organic basis.
• Margins: Record first quarter gross margin of 68.8% (up from 66.7% last year) and operating income margin of 15.3% (GAAP), with non-GAAP operating margin at 25.9%.
• Net Income: GAAP net income of \$98.9 million (\$0.42 per diluted share); Non-GAAP net income of \$186.9 million (\$0.79 per diluted share).
• Adjusted EBITDA: \$257.7 million, representing 27.4% of revenue.
• Share Repurchases: Approximately 4.7 million shares were repurchased for \$316.9 million, signaling ongoing capital returns to shareholders.
• Free Cash Flow: \$268.6 million, up significantly from \$149.0 million in the prior year period.

Management Commentary

“We began the year with strong momentum, delivering record annualized recurring revenue of \$2.435 billion in the first quarter, and surpassing expectations on both top and bottom lines,” said Rob Painter, president and CEO. “Our Connect & Scale strategy connects people, data, workflow, and ecosystems. In an AI-forward world, Trimble is the intelligence and execution layer that reconciles the digital model with physical reality.”

Updated Guidance: Raising the Outlook for 2026

• Full-Year 2026:
  • Revenue expected between \$3.835 billion and \$3.915 billion.
  • GAAP diluted EPS forecasted at \$2.05 to \$2.21.
  • Non-GAAP diluted EPS raised to \$3.47 to \$3.64.
  • Assumptions: GAAP tax rate of 21.0%, Non-GAAP tax rate of 17.5%, ~235 million diluted shares outstanding.
• Second Quarter 2026:
  • Revenue guidance: \$938 million to \$963 million.
  • GAAP EPS: \$0.38 to \$0.42; Non-GAAP EPS: \$0.78 to \$0.82.
  • Assumptions: GAAP tax rate of 23.0%, Non-GAAP tax rate of 17.5%, ~234 million diluted shares outstanding.

Segment Performance

• AECO (Architecture, Engineering, Construction, and Owner):
  Revenue \$391.1 million; operating income \$123.1 million (31.5% margin).
• Field Solutions:
  Revenue \$409.2 million; operating income \$118.0 million (28.8% margin).
• Other Segments:
  Revenue \$139.6 million; operating income \$33.8 million (24.2% margin).

Balance Sheet & Cash Flow

• Cash and Cash Equivalents: \$234.1 million at quarter-end.
• Total Assets: \$8.99 billion.
• Total Liabilities: \$3.35 billion.
• Stockholders’ Equity: \$5.64 billion.
• Net Cash Provided by Operating Activities: \$274.7 million, up from \$155.6 million a year ago.

Shareholder News & Potential Price Sensitive Items

• Strong Outperformance & Record Recurring Revenue: Both revenue and ARR reached all-time highs. This is a clear signal of successful execution and growing demand across end markets.
• Margin Expansion: Gross and operating margins increased substantially, indicating operational efficiency and favorable product mix.
• Substantial Share Buybacks: The \$317 million in share repurchases demonstrates management’s confidence in the company’s future and provides direct value to shareholders.
• Raised EPS Guidance: The increase in full-year non-GAAP EPS guidance is a strong bullish signal, typically price sensitive and likely to impact market sentiment.
• Cash Flow Strength: Free cash flow nearly doubled year-over-year, highlighting robust financial health and flexibility for further investment or shareholder returns.

Risks and Forward-Looking Statements

Investors should note that the company’s outlook remains subject to numerous risks, including macroeconomic uncertainties (trade tensions, inflation, interest rates), supply chain disruptions, geopolitical events, currency fluctuations, and the pace of transition to a subscription business model. Trimble also highlights ongoing efforts to remediate material weaknesses in internal controls over financial reporting, which could impact future results if not addressed.

Conference Call Details

Trimble will host a conference call on May 6, 2026 at 8:00 a.m. ET. Investors can access the call and accompanying materials on the company’s investor relations site.

About Trimble

Trimble is a global technology leader, enabling industries such as construction, geospatial, and transportation through innovation in positioning, modeling, and data analytics. The company’s solutions help build infrastructure, optimize supply chains, and drive productivity worldwide.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Investors should consult official company filings and speak with a qualified financial advisor before making any investment decisions.

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