Geospatial technology provider Trimble (NASDAQ:TRMB) will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
Trimble beat analysts’ revenue expectations last quarter, reporting revenues of $969.8 million, down 1.4% year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ revenue 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 7.8% year on year, a reversal from the 11.8% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 Q1 results, giving us a hint as to what we can expect. AMETEK delivered year-on-year revenue growth of 11.3%, beating analysts’ expectations by 0.6%, and LSI reported revenues up 13.6%, topping estimates by 9%. AMETEK traded up 1.1% following the results while LSI was also up 6.7%.
Read our full analysis of AMETEK’s results here and LSI’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 7.6% on average over the last month. Trimble is up 5.7% during the same time and is heading into earnings with an average analyst price target of $90.58 (compared to the current share price of $68.76).
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