Geospatial technology provider Trimble (NASDAQ:TRMB) will be reporting results this Wednesday before market open. Here’s what you need to know.
Trimble beat analysts’ revenue expectations last quarter, reporting revenues of $939.9 million, up 11.8% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but organic revenue in line with analysts’ 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 8.7% year on year, improving from its flat revenue 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 internet of things segment, some have already reported their Q2 results, giving us a hint as to what we can expect. SmartRent delivered year-on-year revenue growth of 4%, beating analysts’ expectations by 0.6%, and AMETEK reported revenues up 15%, topping estimates by 4.4%. SmartRent traded up 30.5% following the results while AMETEK was also up 4.5%.
Read our full analysis of SmartRent’s results here and AMETEK’s results here.
There has been positive sentiment among investors in the internet of things segment, with share prices up 2.6% on average over the last month. Trimble is up 11.6% during the same time and is heading into earnings with an average analyst price target of $81.27 (compared to the current share price of $58.38).
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