The financial results for the first quarter of the year are out.
The financial highlights of the first quarter.
A quote from an executive.
Rob Painter said that the company had a strong start to the year and closed its agriculture joint venture with AGCO on April 1.
Guidance that is forward-looking.
Revenue is expected to be between $3,570 million and $3,670 million and non- GAAP earnings per share is expected to be between $2.60 and $2.80 for the full year.
In the second quarter of 2024, the company expects revenue to be between $845 million and $875 million and non- GAAP earnings to be between $0.56 and $0.60 per share.
The closing of the joint venture with AGCO at the beginning of the second quarter of the year reflected the full-year guidance.
A gain associated with the agriculture business that was contributed to the joint venture with AGCO is not included in the reconciliation of these measures.
There is an investor conference call and a webcast.
A slide presentation will be made available on the "Investors" section of the website.
About Trimble.
The way people move, build and live is being changed by the core technologies in positioning, modeling and data analytics.
There is a safe harbor.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.
FTRMB.
Non- GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP.
The explanations to the adjustments to comparable GAAP measures are included.
Non- GAAP definitions.
Non- GAAP gross margin.
Non- GAAP gross margin excludes the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs.
Non-GAAP operating expenses are not GAAP.
GAAP operating expenses include the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, deferred compensation, and restructuring and other costs.
Non- GAAP operating income.
Our investors benefit from knowing our non- GAAP operating income trends.
Non-operating expense, net
Non-operating expense is defined as GAAP non-operating income (expense), net, including acquisition/divestiture items, deferred compensation, and restructuring and other costs.
There is a non- GAAP income tax provision.
GAAP income tax provision includes charges and benefits such as net deferred tax impacts resulting from the non-U.S. intercompany transfer of intellectual property, tax law changes, and significant one-time reserve releases.
Non- GAAP net income.
Non-GAAP net income is defined as GAAP net income, which excludes the effects of amortization of purchased intangible assets, acquisition/divestiture items, stock-based compensation, restructuring and other costs.
Non- GAAP net income per share.
GAAP net income per share is defined as GAAP net income per share minus the effects of acquisition/divestiture items, stock-based compensation, restructuring and other costs, and non-GAAP tax adjustments.
There is an adjusted EBITDA.
We believe that Adjusted EBITDA is a useful measure of the performance of our business.
There are explanations of non- GAAP adjustments.
Non-GAAP gross margin and operating expenses exclude the amortization of purchased intangible assets.
Non-GAAP gross margin and operating expenses exclude costs that are not directly related to acquisitions, such as legal, due diligence, integration, and other closing costs.
Changes in non-qualified deferred compensation plan assets are included in non-operating expense.
Restructuring and other costs are included in the gross margin and operating expenses as well as a $20 million commitment to donate to the Trimble Foundation.
The amount adjusts the provision for income taxes to reflect the effect of non-GAAP items.
This amount is the difference between the GAAP and non- GAAP tax rates.
GAAP income tax provision is a percentage of GAAP income before taxes and non- GAAP income tax provision is a percentage of non- GAAP income before taxes.
There is annualized recurring revenue.
The value of the Company's current recurring revenue contracts is included in the ARR performance measure.
Recurring revenue is organic.
The impacts of foreign currency translation and acquisitions and divestitures are excluded from organic recurring revenue.
The revenue is organic.
Excluding the impacts of foreign currency translation and acquisitions and divestitures, organic revenue is what it is.
The source of the information.
The "Green Freight Report: Is Transportation on Track?" is a report by Transporeon.
The conference call will be held on Friday, May 3, at 8 a.m.

Source prnewswire