WESTMINSTER, Colo., April 12,
2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) announced
today that it will change the reporting of its segment financial
results to better reflect the Company's organizational structure
and business models. Starting with first quarter 2024 results,
Trimble will report revenue and operating income based on three
operating segments as follows:
- Architects, Engineers, Construction and Owners ("AECO").
This segment primarily provides software solutions, which sell
through a direct channel to customers in the construction
industry.
- Field Systems. This segment primarily includes
hardware-centric businesses, which sell through dealer partner
channels.
- Transportation and Logistics ("T&L"). This segment
will primarily maintain the historical businesses from the previous
Transportation segment, which serves customers working in long haul
trucking and freight shipper markets.
Financial segment information for the four quarters and the full
year for fiscal years 2023 and 2022, as if reported under the new
structure, will be available in an 8-K filed today and is posted in
the Investor Relations section of the Company's web site at:
http://investor.trimble.com. Also available at
http://investor.trimble.com will be pre-recorded prepared remarks
and an accompanying slide presentation on the new reporting
segments. The new segment financial results for 2022 and 2023
include the Company's agriculture business, which was contributed
to its joint venture with AGCO, which closed on April 1, 2024.
About Trimble
Trimble is transforming the ways people move, build and live.
Core technologies in positioning, modeling and data analytics
connect the digital and physical worlds to improve our customers'
productivity, quality, safety, transparency and sustainability. For
more information about Trimble (NASDAQ: TRMB), visit:
www.trimble.com.
REPORTING
SEGMENTS
(Dollars in
millions)
(Unaudited)
|
|
|
Three Months Ended
|
|
|
|
Q1
2023
|
|
Q2
2023
|
|
Q3
2023
|
|
Q4
2023
|
|
Year
2023
|
AECO
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
288.1
|
|
$
264.1
|
|
$
269.6
|
|
$
288.7
|
|
$ 1,110.5
|
Segment operating
income
|
$
95.4
|
|
$
62.4
|
|
$
77.8
|
|
$
93.4
|
|
$
329.0
|
Segment operating
income as a % of segment revenue
|
33.1 %
|
|
23.6 %
|
|
28.9 %
|
|
32.4 %
|
|
29.6 %
|
|
|
|
|
|
|
|
|
|
|
Field Systems
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
479.9
|
|
$
540.6
|
|
$
495.4
|
|
$
452.0
|
|
$ 1,967.9
|
Segment operating
income
|
$
137.4
|
|
$
175.9
|
|
$
165.0
|
|
$
125.2
|
|
$
603.5
|
Segment operating
income as a % of segment revenue
|
28.6 %
|
|
32.5 %
|
|
33.3 %
|
|
27.7 %
|
|
30.7 %
|
|
|
|
|
|
|
|
|
|
|
Transportation and Logistics
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
147.4
|
|
$
188.9
|
|
$
192.3
|
|
$
191.7
|
|
$
720.3
|
Segment operating
income
|
$
20.3
|
|
$
26.7
|
|
$
33.6
|
|
$
37.6
|
|
$
118.2
|
Segment operating
income as a % of segment revenue
|
13.8 %
|
|
14.1 %
|
|
17.5 %
|
|
19.6 %
|
|
16.4 %
|
|
|
|
|
|
|
|
|
|
|
CORPORATE SUMMARY
|
|
|
|
|
|
|
|
|
|
Segment Revenues:
|
|
|
|
|
|
|
|
|
|
AECO
|
$
288.1
|
|
$
264.1
|
|
$
269.6
|
|
$
288.7
|
|
$ 1,110.5
|
Field
Systems
|
479.9
|
|
540.6
|
|
495.4
|
|
452.0
|
|
1,967.9
|
Transportation and
Logistics
|
147.4
|
|
188.9
|
|
192.3
|
|
191.7
|
|
720.3
|
Total Segment
Revenue
|
$
915.4
|
|
$
993.6
|
|
$
957.3
|
|
$
932.4
|
|
$ 3,798.7
|
|
|
|
|
|
|
|
|
|
|
Segment Operating Income:
|
|
|
|
|
|
|
|
|
|
AECO
|
$ 95.4
|
|
$ 62.4
|
|
$ 77.8
|
|
$ 93.4
|
|
$
329.0
|
Field
Systems
|
137.4
|
|
175.9
|
|
165.0
|
|
125.2
|
|
603.5
|
Transportation and
Logistics
|
20.3
|
|
26.7
|
|
33.6
|
|
37.6
|
|
118.2
|
Total segment
operating income before corporate allocations
|
$
253.1
|
|
$
265.0
|
|
$
276.4
|
|
$
256.2
|
|
$ 1,050.7
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other Charges:
|
|
|
|
|
|
|
|
|
|
Unallocated Corporate
Expense
|
$
(27.0)
|
|
$
(34.0)
|
|
$
(25.4)
|
|
$
(29.6)
|
|
$ (116.0)
|
Purchase accounting
adjustments
|
(34.7)
|
|
(62.1)
|
|
(58.9)
|
|
(56.6)
|
|
(212.3)
|
Acquisition /
divestiture items
|
(7.0)
|
|
(26.5)
|
|
(22.0)
|
|
(16.9)
|
|
(72.4)
|
Stock-based
compensation / deferred compensation
|
(35.4)
|
|
(42.1)
|
|
(37.9)
|
|
(35.7)
|
|
(151.1)
|
Restructuring and other
costs
|
(12.0)
|
|
(6.7)
|
|
(10.9)
|
|
(20.5)
|
|
(50.1)
|
Consolidated Operating Income
|
137.0
|
|
93.6
|
|
121.3
|
|
96.9
|
|
448.8
|
Non-operating income
(expense) and income taxes
|
(8.2)
|
|
(49.0)
|
|
(46.4)
|
|
(33.9)
|
|
(137.5)
|
Net income
|
$
128.8
|
|
$ 44.6
|
|
$ 74.9
|
|
$ 63.0
|
|
$
311.3
|
REPORTING
SEGMENTS
(Dollars in
millions)
(Unaudited)
|
|
|
Three Months Ended
|
|
|
|
Q1
2022
|
|
Q2
2022
|
|
Q3
2022
|
|
Q4
2022
|
|
Year
2022
|
AECO
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
242.9
|
|
$
221.6
|
|
$
226.0
|
|
$
251.2
|
|
$
941.7
|
Segment operating
income
|
$
77.2
|
|
$
48.1
|
|
$
59.8
|
|
$
74.0
|
|
$
259.1
|
Segment operating
income as a % of segment revenue
|
31.8 %
|
|
21.7 %
|
|
26.5 %
|
|
29.5 %
|
|
27.5 %
|
|
|
|
|
|
|
|
|
|
|
Field Systems
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
595.9
|
|
$
574.7
|
|
$
519.7
|
|
$
461.0
|
|
$ 2,151.3
|
Segment operating
income
|
$
177.3
|
|
$
186.6
|
|
$
165.4
|
|
$
126.6
|
|
$
655.9
|
Segment operating
income as a % of segment revenue
|
29.8 %
|
|
32.5 %
|
|
31.8 %
|
|
27.5 %
|
|
30.5 %
|
|
|
|
|
|
|
|
|
|
|
Transportation and Logistics
|
|
|
|
|
|
|
|
|
|
Segment
revenue
|
$
154.9
|
|
$
144.9
|
|
$
139.2
|
|
$
144.3
|
|
$
583.3
|
Segment operating
income
|
$
8.4
|
|
$
9.3
|
|
$
13.2
|
|
$
18.9
|
|
$
49.8
|
Segment operating
income as a % of segment revenue
|
5.4 %
|
|
6.4 %
|
|
9.5 %
|
|
13.1 %
|
|
8.5 %
|
|
|
|
|
|
|
|
|
|
|
CORPORATE SUMMARY
|
|
|
|
|
|
|
|
|
|
Segment Revenues:
|
|
|
|
|
|
|
|
|
|
AECO
|
$
242.9
|
|
$
221.6
|
|
$
226.0
|
|
$
251.2
|
|
$
941.7
|
Field
Systems
|
595.9
|
|
574.7
|
|
519.7
|
|
461.0
|
|
2,151.3
|
Transportation and
Logistics
|
154.9
|
|
144.9
|
|
139.2
|
|
144.3
|
|
583.3
|
Total Segment
Revenue
|
$
993.7
|
|
$
941.2
|
|
$
884.9
|
|
$
856.5
|
|
$ 3,676.3
|
|
|
|
|
|
|
|
|
|
|
Segment Operating Income:
|
|
|
|
|
|
|
|
|
|
AECO
|
$
77.2
|
|
$
48.1
|
|
$
59.8
|
|
$
74.0
|
|
$
259.1
|
Field
Systems
|
177.3
|
|
186.6
|
|
165.4
|
|
126.6
|
|
655.9
|
Transportation and
Logistics
|
8.4
|
|
9.3
|
|
13.2
|
|
18.9
|
|
49.8
|
Total segment
operating income before corporate allocations
|
$
262.9
|
|
$
244.0
|
|
$
238.4
|
|
$
219.5
|
|
$
964.8
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other Charges:
|
|
|
|
|
|
|
|
|
|
Unallocated Corporate
Expense
|
$
(29.8)
|
|
$
(33.3)
|
|
$
(28.5)
|
|
$
(31.7)
|
|
$ (123.3)
|
Purchase accounting
adjustments
|
(34.6)
|
|
(32.3)
|
|
(31.0)
|
|
(33.7)
|
|
(131.6)
|
Acquisition /
divestiture items
|
(3.9)
|
|
(7.3)
|
|
(9.1)
|
|
(12.5)
|
|
(32.8)
|
Stock-based
compensation / deferred compensation
|
(25.0)
|
|
(26.2)
|
|
(31.7)
|
|
(29.1)
|
|
(112.0)
|
Restructuring and other
costs
|
(12.7)
|
|
(10.0)
|
|
(15.7)
|
|
(15.8)
|
|
(54.2)
|
Consolidated Operating Income
|
156.9
|
|
134.9
|
|
122.4
|
|
96.7
|
|
510.9
|
Non-operating income
(expense) and income taxes
|
(46.6)
|
|
33.1
|
|
(36.6)
|
|
(11.1)
|
|
(61.2)
|
Net income
|
$
110.3
|
|
$
168.0
|
|
$ 85.8
|
|
$ 85.6
|
|
$
449.7
|
FTRMB
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SOURCE Trimble