Geospatial technology provider Trimble (NASDAQ: TRMB) will be reporting results this Wednesday before the bell. Here’s what investors should know.
Trimble beat analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $840.6 million, down 11.8% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates but EPS guidance for next quarter missing analysts’ expectations significantly.
Is Trimble a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Trimble’s revenue to decline 4.1% year on year to $834.8 million, improving from the 12.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.63 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Trimble has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Trimble’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Vontier delivered year-on-year revenue growth of 11.1%, beating analysts’ expectations by 5.4%, and AMETEK reported revenues up 2.5%, topping estimates by 2.8%. Vontier traded up 1.6% following the results while AMETEK was also up 3%.
Read our full analysis of Vontier’s results here and AMETEK’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Trimble is up 6.7% during the same time and is heading into earnings with an average analyst price target of $87 (compared to the current share price of $83.93).
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