Guidance
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TRMB
FY2025 Q3
Повышен
Отчётный звонок Trimble Inc.
Вывод Buzzberg
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).
Вывод Buzzberg 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). Читать полный анализСвернуть анализ
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%.
Выручка$0.9012BФакт
EPS$0.81Факт
Валовая маржа65.9%Факт
Операционная маржа18.42%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
AI
AI viewed as net opportunity, not disruption threat
Demand
Strong demand from AI data center construction
Показать ещё 3 тезиса
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
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $0.9012B | Факт |
| EPS | $0.81 | Факт |
| Валовая маржа | 65.9% | Факт |
| Операционная маржа | 18.42% | Факт |
| Свободный денежный поток | $0.1166B | Факт |
| Капзатраты | $0.0072B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| EPS | FY2025 | $3.08 | $3.08 | Повышен |
| Выручка | FY2025 | $3.565B | $3.565B | Повышен |
| Выручка | FY2026 | 5%–7.5% | 6.25% | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
Confident
Management repeatedly emphasizes raised guidance, strong execution, and confidence in achieving 2027 targets, while framing headwinds like the government shutdown as contained.
Оценка AI от менеджмента
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
Инвестиции и мощности
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.
все упомянутые компании ниже: 2
Компаниис момента звонка
Клиенты
Клиенты
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.
Доказательства
“we announced and launched our freight marketplace offering with Procter & Gamble as our anchor shipper customer.”
Партнёры
Партнёры
Rob Painter
Hyundai OEM relationship expands Trimble's Trimble Ready factory-installed machine control reach for dozers.
Доказательства
“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.”
Внешние сигналы
Альфа цепочки поставок · 3с момента звонка
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.
Доказательства
“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.
Доказательства
“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.
Доказательства
“We weren't planning any revenue in that for FedRAMP in the government in 2026. So there's really nothing to see there”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 2. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.