Geospatial technology provider Trimble (NASDAQ: TRMB) will be reporting earnings this Wednesday before the bell. Here’s what to look for.
Trimble beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $875.7 million, flat year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Trimble a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Trimble’s revenue to be flat year on year at $870.6 million, improving from the 8.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.72 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Trimble has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.5% on average.
Looking at Trimble’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 10.8%, beating analysts’ expectations by 4.3%, and Vontier reported flat revenue, topping estimates by 0.7%. AMETEK traded up 9.8% following the results while Vontier was down 10%.
Read our full analysis of AMETEK’s results here and Vontier’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Trimble is down 1.5% during the same time and is heading into earnings with an average analyst price target of $97.70 (compared to the current share price of $79.57).
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