Trimble's Third-Quarter Revenue Growth Cools to 7%

The Tip Desk · November 4, 2026 · 3 min read

Annualized recurring revenue hit a record $2.56 billion as the company reported non-GAAP diluted earnings of $0.86 a share.

Trimble Inc. (TRMB), the global technology company that connects the physical and digital worlds, reported third-quarter 2026 revenue of $966.8 million, up 7 percent year over year and 7 percent on an organic basis. That pace slowed from 11 percent year-over-year growth in the second quarter and 12 percent in the first quarter.

The company said third-quarter results exceeded expectations on both revenue and earnings per share. Annualized recurring revenue reached a record $2.56 billion, up 11 percent year over year and 10 percent organically, after $2.51 billion in the second quarter and $2.43 billion in the first. President and CEO Rob Painter said the full-year 2026 outlook reflects execution of the Connect & Scale strategy.

GAAP operating income was $142.0 million, or 14.7 percent of revenue. Non-GAAP operating income was $262.6 million, or 27.2 percent of revenue. Adjusted EBITDA was $278.5 million, or 28.8 percent of revenue.

GAAP net income was $59.1 million, or $0.25 a share on a diluted basis, after a GAAP net loss of $471.7 million, or $2.02 a share, in the second quarter that the company said was driven largely by a $562.0 million impairment of goodwill related to the Transportation and Logistics segment. Non-GAAP net income was $200.5 million, or $0.86 a share.

Product revenue was $324.3 million. Subscription and services revenue was $642.5 million. Gross margin was 68.2 percent of revenue. Restructuring expense was $24.9 million in the quarter.

AECO segment revenue was $395.0 million, with operating income of $132.2 million, or 33.5 percent of segment revenue. Field Systems revenue was $435.8 million, with operating income of $128.7 million, or 29.5 percent of segment revenue. T&L revenue was $136.0 million, with operating income of $35.7 million, or 26.3 percent of segment revenue.

During the quarter, Trimble repurchased approximately 4.0 million shares for $231.7 million. That followed a new $1.0 billion board authorization in the second quarter that replaced a prior $1.0 billion authorization with $608.2 million remaining. Cash and cash equivalents were $214.5 million at quarter-end.

For full-year 2026, Trimble now expects revenue of $3,910 million to $3,940 million, GAAP loss per share of $0.55 to $0.49, and non-GAAP earnings per share of $3.63 to $3.69. That revenue range narrowed from $3,900 million to $3,950 million after the second quarter. GAAP guidance assumes a tax rate range of 618.3 percent to 372.6 percent; non-GAAP guidance assumes a tax rate of 17.2 percent.

For the fourth quarter of 2026, the company expects revenue of $1,031 million to $1,061 million, GAAP earnings per share of $0.83 to $0.89, and non-GAAP earnings per share of $1.13 to $1.19. GAAP fourth-quarter guidance assumes a tax rate of approximately 11.4 percent; non-GAAP guidance assumes 17.1 percent.