Trimble forecast a steeper 2026 GAAP loss and narrowed its full-year revenue range after third-quarter sales rose 7% and annualized recurring revenue reached a record, while GAAP profit fell and non-GAAP earnings increased.
Revenue for the quarter ended Oct. 2 was $966.8 million, up 7% from a year earlier and 7% organically. Annualized recurring revenue (ARR) reached $2.56 billion, 11% above a year earlier and 10% higher on an organic basis. Trimble described the ARR figure as a record.
GAAP net income was $59.1 million, compared with $111.5 million a year earlier, and diluted earnings per share fell to $0.25 from $0.46. On a non-GAAP basis, net income rose to $200.5 million from $194.7 million, while diluted earnings per share increased to $0.86 from $0.81.
Trimble’s Nov. 4 release set full-year revenue at $3.91 billion to $3.94 billion. That range is narrower than the $3.90 billion to $3.95 billion forecast in August, with a higher floor and a lower ceiling. The company now expects full-year non-GAAP diluted earnings of $3.63 to $3.69 per share, versus $3.60 to $3.70 previously.
At the same time, the 2026 GAAP forecast shifted to a loss of $0.49 to $0.55 per share, from the August estimate of a loss of $0.07 to $0.12. The November release’s reconciliation includes a $2.42-per-share goodwill impairment adjustment among the items excluded from non-GAAP results.
Trimble reported a $562 million goodwill impairment tied to its Transportation and Logistics segment in the second quarter. The company then cited a sustained decline in market capitalization and stock price, heightened macroeconomic uncertainty and lower market multiples for software businesses as factors behind the charge. Its November release does not connect that past impairment to the revised GAAP loss forecast.
The Associated Press, citing Zacks Investment Research, reported that five analysts expected quarterly revenue of $965.9 million, while four analysts expected adjusted earnings of $0.86 per share. Trimble’s reported sales were $0.9 million higher; its non-GAAP earnings per share matched the Zacks estimate numerically. The per-share figures are a numerical comparison between the company’s non-GAAP measure and Zacks’ adjusted earnings estimate.
For the fourth quarter, Trimble expects revenue of $1.031 billion to $1.061 billion, GAAP earnings of $0.83 to $0.89 per share and non-GAAP earnings of $1.13 to $1.19 per share.
