Guidance
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자본지출
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FY2025 Q3
상향
Trimble Inc. 실적 발표
Buzzberg 분석
Raised full-year 2025 revenue and EPS guidance
Trimble reported a solid beat-and-raise in Q3 2025, driven by strong growth in AECO ARR (+17%) and continued momentum in Field Systems. Management raised full-year guidance and provided an early look at 2026, indicating mid-to-high single-digit revenue growth. The narrative focuses on the durability of the subscription model (63% recurring revenue), the AI opportunity enabling connected workflows, and strength from AI data center construction demand. Q3 2025 revenue beat at $901M (+11% YoY organic); EPS beat at $0.81 (+16% YoY organic).
Buzzberg 분석 Raised full-year 2025 revenue and EPS guidance Trimble reported a solid beat-and-raise in Q3 2025, driven by strong growth in AECO ARR (+17%) and continued momentum in Field Systems. Management raised full-year guidance and provided an early look at 2026, indicating mid-to-high single-digit revenue growth. The narrative focuses on the durability of the subscription model (63% recurring revenue), the AI opportunity enabling connected workflows, and strength from AI data center construction demand. Q3 2025 revenue beat at $901M (+11% YoY organic); EPS beat at $0.81 (+16% YoY organic). 전체 분석 보기분석 접기
Trimble reported a solid beat-and-raise in Q3 2025, driven by strong growth in AECO ARR (+17%) and continued momentum in Field Systems. Management raised full-year guidance and provided an early look at 2026, indicating mid-to-high single-digit revenue growth. The narrative focuses on the durability of the subscription model (63% recurring revenue), the AI opportunity enabling connected workflows, and strength from AI data center construction demand. Q3 2025 revenue beat at $901M (+11% YoY organic); EPS beat at $0.81 (+16% YoY organic).
- Full-year 2025 revenue guidance raised by $45M to $3.565B and EPS by $0.10 to $3.08.
- Q3 ARR grew 15% YoY to $2.31B, with AECO up 17% and Field Systems up 18%. Net revenue retention for AECO (ex-SketchUp) is ~110%.
- Field Systems reported revenue growth of 8%, but with a ~150bps headwind from business model conversion; ARR grew 18%.
매출$0.9012B보고값
주당순이익(EPS)$0.81보고값
매출총이익률65.9%보고값
영업이익률18.42%보고값
근거 있는 핵심 내용 6개
지금 중요한 점
이번 발표에서 가장 의미 있는 변화를 정리했습니다.
AI
AI viewed as net opportunity, not disruption threat
Demand
Strong demand from AI data center construction
핵심 내용 3개 더 보기
AECO
AECO ARR growth of 17% driven by cross-sell and product innovation
Buybacks
Commitment to returning at least a third of free cash flow via buybacks
M&A
M&A focused on tuck-in acquisitions in construction software
보고 기간
보고 실적
| 지표 | 보고값 | 변화 |
|---|---|---|
| 매출 | $0.9012B | 보고값 |
| 주당순이익(EPS) | $0.81 | 보고값 |
| 매출총이익률 | 65.9% | 보고값 |
| 영업이익률 | 18.42% | 보고값 |
| 잉여현금흐름 | $0.1166B | 보고값 |
| 자본지출 | $0.0072B | 보고값 |
향후 전망
향후 가이던스
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| 주당순이익(EPS) | FY2025 | $3.08 | $3.08 | 상향 |
| 매출 | FY2025 | $3.565B | $3.565B | 상향 |
| 매출 | FY2026 | 5%–7.5% | 6.25% | 제시 |
AI, 자본지출 및 수요 분석
경영진 분석
Confident
Management repeatedly emphasizes raised guidance, strong execution, and confidence in achieving 2027 targets, while framing headwinds like the government shutdown as contained.
경영진의 AI 분석
Management views AI as a net opportunity and a natural extension of their Connect and Scale strategy, leveraging their unique data corpus and deep industry expertise to embed AI across their products, drive internal efficiencies, and accelerate innovation. They are focusing on solving real customer problems with AI, such as automated point cloud classification and predictive analytics in transport
투자 및 생산능력
The transcript does not discuss capital expenditure or infrastructure investment in detail, but mentions the balance sheet's financial flexibility and a leverage ratio of 1.2x, which could support future investments or M&A.
아래에 언급된 기업 2개 모두 표시
기업발표 이후 수익률
고객
고객
Rob Painter
P&G is the anchor customer for Trimble's new freight marketplace, which could drive adoption and network effects for Trimble's transportation ecosystem.
근거
“we announced and launched our freight marketplace offering with Procter & Gamble as our anchor shipper customer.”
파트너
파트너
Rob Painter
Hyundai OEM relationship expands Trimble's Trimble Ready factory-installed machine control reach for dozers.
근거
“we announced a relationship with Vermeer on their pile drivers, with Cabalco on their 2D earthworks for North America, with Hyundai, Trimble Ready applications for dozers in North America.”
외부 신호
공급망 알파 · 3발표 이후 수익률
Trimble anticipates continued business model conversion (one-time to subscriptions) headwinds of ~150bps in Field Systems revenue through 2027, as hardware sales are shifted to software ARR.
근거
“we expect the transitions within field systems to continue through the next couple of years, through 27”
AI data center demand is a tailwind for Trimble's civil construction and AECO customers, who have significant backlogs and are investing to deliver with speed.
근거
“Many of our customers have significant global backlogs and continue to invest to service them, with an emphasis on speed of delivery. This is clearly reflected in our ACB bookings performance.”
The US federal government shutdown reduced second-half revenue, with ~single-digit millions impacted. However, Trimble is not planning for any FedRAMP-related federal revenue in 2026, suggesting the certification is a security posture play rather than a near-term revenue driver.
근거
“We weren't planning any revenue in that for FedRAMP in the government in 2026. So there's really nothing to see there”
방법론 및 범위
경영진 발언만 분석합니다. 검증된 기업 언급 2개를 모두 표시하며, 보고 실적과 향후 가이던스를 분리합니다. 공개 근거는 화자가 표시된 짧은 인용문 8개로 제한됩니다. AI 분석은 불완전하거나 틀릴 수 있으므로 중요한 주장은 원문에서 확인하세요.