Geospatial technology provider Trimble (NASDAQ:TRMB) will be reporting earnings this Wednesday before market hours. Here’s what to expect.
Trimble beat analysts’ revenue expectations last quarter, reporting revenues of $972 million, up 11% year on year. It was a strong quarter for the company, with full-year EPS guidance beating analysts’ expectations and a beat of analysts’ EPS estimates.
Is Trimble a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Trimble’s revenue to grow 7.2% year on year, improving from the 2.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Trimble has a history of exceeding Wall Street’s expectations.
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. Bloom Energy delivered year-on-year revenue growth of 138%, beating analysts’ expectations by 14.6%, and Advanced Energy reported revenues up 50.3%, topping estimates by 7.8%. Bloom Energy traded down 11.2% following the results.
Read our full analysis of Bloom Energy’s results here and Advanced Energy’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 up 11.4% during the same time and is heading into earnings with an average analyst price target of $79.09 (compared to the current share price of $65.53).
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