Trimble raises annual forecast on upbeat Q1 results, strong software demand

May 6 (Reuters) – Navigation equipment maker Trimble on Wednesday raised its annual forecast after strong first-quarter results, riding on steady demand for its product bundle tailored for the construction and transportation sectors.

• The Westminster, Colorado-based company has integrated its navigation equipment with software solutions that gather data, analyze it and provide actionable insights, helping clients streamline their workflows.

• It now expects total revenue of $3.84 billion-$3.92 billion for 2026, above its previous forecast of $3.81 billion-$3.91 billion.

• Annual adjusted earnings per share is forecast to be between $3.47 and $3.64, slightly higher than the previous expectation between $3.42 to $3.62.

• Trimble has been shifting from a hardware-driven to a software-services-focused model.

• First-quarter revenue was $939.9 million — on top of analysts’ average expectation of $905.6 million, according to data compiled by LSEG

• Adjusted earnings of $0.79 per share beat estimates of $0.72 per share for the quarter ended March 31.

• The company has also benefited from its “connect-to-scale” strategy, designed to link hardware, software and cloud solutions across the construction, geospatial and transportation sectors.

• Trimble expects second-quarter revenue between $938 million and $963 million, the midpoint of which is above analysts’ estimate of about $946 million.

• It forecast adjusted earnings per share between $0.78 and $0.82 for the quarter, the midpoint of which is in line with estimates of $0.80.

(Reporting by Arunesh Sinha; Editing by Joyjeet Das)