By Will Feuer
Trimble warned investors that it expects revenue to fall this year, despite posting sales growth for the last three months of 2023.
The technology provider reported a fourth-quarter profit of $63 million, or 25 cents a share, down from $85.6 million, or 34 cents a share, in the same period a year earlier.
Stripping out amortization and other one-time items, adjusted earnings were 63 cents a share. Analysts surveyed by FactSet expected 60 cents a share.
Revenue rose about 9% to $932.4 million. Analysts expected $910.1 million.
For 2024, Trimble is targeting revenue of $3.57 billion to $3.67 billion. Analysts expected $3.84 billion. In 2023, the company reported revenue of $3.8 billion.
The company expects adjusted earnings to be $2.60 a share to $2.80 a share. Analysts were expecting $2.71 a share.
In the current quarter, Trimble expects revenue to be $905 million to $935 million, below the $980.1 million that analysts expected. The company is targeting adjusted earnings of 57 cents a share to 62 cents a share, below the 67 cents a share that analysts expected.
Write to Will Feuer at [email protected]
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