Trimble Inc. recently announced its first quarter earnings, which although decreased from last year, surpassed the estimates set by Wall Street.
The earnings for the company were reported to be $57.2 million, which translates to $0.23 per share. This is a decrease from the earnings in the first quarter of the previous year, which were logged at $128.8 million, or $0.52 per share.
However, taking certain items into account, Trimble Inc. reported adjusted earnings of $159.1 million, which equates to $0.64 per share for this quarter. Thomson Reuters collated figures indicating that, on average, analysts had anticipated the company to earn $0.62 per share. These estimates typically exclude special items.
In terms of revenue for the quarter, the company has seen a 4.1% growth, rising to $953.3 million from $915.4 million the previous year.
To provide an overview, Trimble Inc.'s earnings (according to GAAP) for the first quarter were $57.2 million, a decrease from $128.8 million in the same period last year. Additionally, EPS (earnings per share) for Q1 was $0.23, a slight dip compared to last year's $0.52. Revenue for the first quarter increased to $953.3 million from $915.4 million in the previous year.
Looking ahead, the company's guidance for the next quarter projects an EPS between $0.56 and $0.60 and revenue estimates range from $845 million to $875 million. For the full year, the EPS guidance ranges from $2.60 to $2.80 and they expect revenue to be around $3.57 billion to $3.67 billion.