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Trimble (TRMB) Expands its Footprint Into Forestry With Holmen
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Trimble (TRMB - Free Report) is strengthening its presence in the forestry sector driven by an expanding clientele. It recently announced that Holmen, a prominent player in the Swedish forestry industry, selected CONNECTED FOREST as its comprehensive forest management system.
The selection marks a move for Holmen Skog, the division responsible for monitoring Holmen’s vast land holdings spanning approximately 1.3 million hectares. It became the first entity in Sweden and Scandinavia to integrate the Trimble CONNECTED FOREST suite into operations completely.
Trimble Rides on Strong Portfolio
Trimble’s share has gained 10.8% year to date, outperforming the Zacks Computer and Technology sector’s return of 9%. The outperformance can be attributed to Trimble’s aim to advance digital forestry solutions and enable data-driven decision-making in the forestry industry.
Trimble also benefits from its strength in the building infrastructure and transportation segments. Bookings in AECO software businesses increased more than 30% year over year, driven in part by the strong cross-sell and TC1 performance in fourth-quarter 2023.
Strong momentum in the transportation segment, driven by organic growth in Enterprise and MAPS, is noteworthy. Transporeon reported record bookings in the fourth quarter of 2023.
Trimble, through its subsidiary, Transporean, recently collaborated with MODE Global to enhance freight procurement through Autonomous Procurement, leveraging machine learning and data analytics to streamline processes and improve market navigation.
Trimble also announced a significant advancement in its cloud software solutions in March, with a focus on asset lifecycle management. The announcement entails that two of its cloud software solutions have received Level 1 Certification under the Texas Risk and Authorization Management Program (TX-RAMP), enhancing security for asset lifecycle management in infrastructure projects in Texas.
Trimble’s commitment to diversifying its portfolio and enhancing technological capabilities through collaborations is expected to drive top-line growth.
For first-quarter 2024, Trimble expects revenues between $905 million and $935 million. The company expects non-GAAP earnings between 57 cents and 62 cents per share.
The Zacks Consensus Estimate for first-quarter 2024 revenues of $921.15 million, indicating 0.63% year-over-year growth. The consensus mark for earnings is pegged at 59 cents unchanged in the past 30 days.
Image: Bigstock
Trimble (TRMB) Expands its Footprint Into Forestry With Holmen
Trimble (TRMB - Free Report) is strengthening its presence in the forestry sector driven by an expanding clientele. It recently announced that Holmen, a prominent player in the Swedish forestry industry, selected CONNECTED FOREST as its comprehensive forest management system.
The selection marks a move for Holmen Skog, the division responsible for monitoring Holmen’s vast land holdings spanning approximately 1.3 million hectares. It became the first entity in Sweden and Scandinavia to integrate the Trimble CONNECTED FOREST suite into operations completely.
Trimble Rides on Strong Portfolio
Trimble’s share has gained 10.8% year to date, outperforming the Zacks Computer and Technology sector’s return of 9%. The outperformance can be attributed to Trimble’s aim to advance digital forestry solutions and enable data-driven decision-making in the forestry industry.
Trimble also benefits from its strength in the building infrastructure and transportation segments. Bookings in AECO software businesses increased more than 30% year over year, driven in part by the strong cross-sell and TC1 performance in fourth-quarter 2023.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Strong momentum in the transportation segment, driven by organic growth in Enterprise and MAPS, is noteworthy. Transporeon reported record bookings in the fourth quarter of 2023.
Trimble also announced a significant advancement in its cloud software solutions in March, with a focus on asset lifecycle management. The announcement entails that two of its cloud software solutions have received Level 1 Certification under the Texas Risk and Authorization Management Program (TX-RAMP), enhancing security for asset lifecycle management in infrastructure projects in Texas.
Trimble’s commitment to diversifying its portfolio and enhancing technological capabilities through collaborations is expected to drive top-line growth.
For first-quarter 2024, Trimble expects revenues between $905 million and $935 million. The company expects non-GAAP earnings between 57 cents and 62 cents per share.
The Zacks Consensus Estimate for first-quarter 2024 revenues of $921.15 million, indicating 0.63% year-over-year growth. The consensus mark for earnings is pegged at 59 cents unchanged in the past 30 days.
Zacks Rank & Other Stocks to Consider
Trimble currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are NetApp (NTAP - Free Report) , Dell Technologies (DELL - Free Report) and NVIDIA (NVDA - Free Report) , each sporting Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp shares have gained 16.3% in the year-to-date period. NTAP’s long-term earnings growth rate is currently projected at 8.79%.
Dell Technologies shares have gained 58.3% in the year-to-date period. DELL's long-term earnings growth rate is currently projected at 12%.
NVIDIA shares have gained 76.5% in the year-to-date period. NVDA's long-term earnings growth rate is currently projected at 30.93%.