Trimble : First Quarter 2026 Results Summary

Published: 2026-05-06 07:32:25 ET TRMB

Published on 05/06/2026 at 07:32 am EDT

First Quarter 2026 Earnings Summary

Q1'26 Highlights

Q1'26 Financial Results

Segment Financial Results

FY'26 + Q2'26 Financial Outlook

Trimble at ConExpo

Rob Painter President and Chief Executive Officer

Phil Sawarynski Chief Financial Officer

From hours to minutes

using the Trimble ecosystem

Capture the jobsite in 3D

User captures data with Trimble field solutions including 3D laser scanners

Civil Design & Engineering Terrain design modeling that also translates a design model into a constructible machine model

Civil Earthworks Construction

The machine model enables automated blade control of a dozer or excavator to the desired grade

2 Trimble Business Center

Trimble Machine Control

Track & Manage

Field data is leveraged for project management for scheduling and managing work

Trimble Project Management

Bridge Construction Field layout is automated by connecting the design model to Trimble survey equipment

Trimble 3D Laser scanner

Structural Design & Engineering

Constructible level design for steel and concrete

Trimble Connect - common data environment connecting project stakeholders in the office and field

Trimble Tekla

Trimble Robotic Total Station

Airport: 145 km, 4800+ assets automatically extracted and classified with Trimble Business Center

Rail: mapped 33k km on DB rail at normal train operation speeds with Trimble Reality Capture

Tunnel: verified position for 20k railway ties automatically with Trimble GEDO GX50 laser scanner

Road: 10% in project savings through digitalization and deploying AI

= Management

X AI-Powered Risk

VISION

An industry with zero disputes and stronger relationships.

REACH

Inside the largest construction tech platform in the world.

CONNECTION

Connecting data across office and field.

"Document Crunch has enabled us

WHnAoTtToHnElyINtoDUgeStTRthYrIoSuSgAhYsINpeGcs faster, but also to submit RFIs and clarify contradictions before the project starts, reducing the risk of costly rework or delays."

"With Document Crunch, we're catching those big-ticket risk items right upfront…That means we're pricing smarter, avoiding costly surprises, and keeping hassles to a minimum. It's all about reducing risk from day one, which makes the ROI crystal clear."

"Think of the hours and time you're giving back to project managers, to legal counsels… they can have the information that they need, but when things do go wrong, they know that they're well protected."

"The consistency piece is what's reducing the risk. With Document Crunch, we've moved away from relying on each person's interpretation and toward a single,

company-wide framework. Everyone is looking at risk through the same lens."

FIRST QUARTER, AS-ADJUSTED(1,2)

($M)

Q1'26

Q1'25

YoY

Revenue

$940

$818

+12% organic

ARR

$2,435

$2,111

+13% organic

Non-GAAP Gross Margin

71.0%

69.9%

+110 bps

Non-GAAP Operating Income Margin

25.9%

24.2%

+170 bps

Adjusted EBITDA Margin

27.4%

25.9%

+150 bps

Revenue Mix

Highlights / Drivers

Q1'26 revenue growth driven by recurring revenue growth and strength in Field Systems

Gross margin and operating margin expansion driven by continued progression in recurring revenue mix

As-adjusted figures exclude the financial results from the mobility business (divested in Q1'25).

Organic growth rates exclude the impact of foreign currency translation, M&A and divestitures.

7 See Appendix and http://investor.trimble.com for a reconciliation to the appropriate GAAP measure.

Year-To-Date Cash Flow

($M)

2026

2025

Operating Cash Flow

$275

$156

Capital Expenditures

Free Cash Flow(1)

$269

$149

Strong Q1'26 cash flow as expected

Repurchased $317M of shares in Q1

1. Free cash flow refers to cash flow from operating activities minus capital expenditures.

Balance Sheet

($M)

Q1'26 Actual

Cash and Equivalents

$234

Total Debt

$1,413

Net Debt

$1,179

TTM As-Adjusted EBITDA(2)

$1,092

Net Debt / TTM As-Adjusted EBITDA(2)

1.1x

NWC % of Revenue

<0%

(Architects, Engineers, Construction, Owners)

Highlights / Drivers

Scaled $1.5B ARR business, operating at "Rule of >45"(2) in Q1'26

"And when we went to the cloud version… it was great. I love it. I love the cloud based solutions." -Electrical Contractor

Strong ARR, revenue and operating margin performance: in-line with long-term expectations

FIRST QUARTER(1)

($M)

Q1'26

Q1'25

YoY

Revenue

$391

$335

+14% organic

ARR

$1,510

$1,294

+14% organic

Operating Income Margin

31.5%

27.3%

+420 bps

Global expansion of Trimble Construction One driving bookings growth

Strong operating margin expansion a result of recurring revenue growth and operating expense leverage

Organic growth rates exclude the impact of foreign currency translation, M&A and divestitures. See Appendix for a reconciliation to the appropriate GAAP measure.

"Rule of" = organic ARR growth + operating income margin %.

FIRST QUARTER(1)

($M)

Q1'26

Q1'25 YoY

Revenue ARR

Operating Income Margin

$409

$400 28.8%

$359 +12% organic

$358 +12% organic

29.7% -90 bps

Highlights / Drivers

TTM Software/services/ recurring revenue greater than 50% of segment revenue

"The workflows have given us huge gains in terms of on-the-ground practices. For our site teams, it means we're getting a single source of truth out there. In terms of speed, data collection and surveying is much faster now. So it means that everyone is able to collaborate effectively and in a timely manner." -Civil Engineering Contractor

Revenue driven by strong growth in Civil Construction and Geospatial, led by demand in road construction, solar, manufacturing, and data center projects

ARR growth driven by strength in WorksPlus machine control, Positioning Services, Trimble Business Center and extended warranties

Operating margin $ grew. Operating margin % down slightly Y/Y due to opex timing

1. Organic growth rates exclude the impact of foreign currency translation, M&A and divestitures. See Appendix for a reconciliation to the appropriate GAAP measure.

FIRST QUARTER, AS-ADJUSTED(1,2)

($M)

Q1'26

Q1'25

YoY

Revenue

$140

$123

+7% organic

ARR

$525

$459

+9% organic

Operating Income Margin

24.2%

21.2%

+300 bps

Highlights / Drivers

>90%

Recurring revenue

"Transporeon's network makes us visible and makes communication faster. For example, the freight matching platform is very useful for us to reduce all the empty routes."

- T&L Customer

As-adjusted results exclude Mobility which was divested on February 8, 2025

9% organic ARR growth driven by continued growth in Transporeon and Maps and improved growth in Enterprise and Forestry

Operating margins expanded as expected

As-adjusted figures exclude the financial results from the mobility business (divested in Q1'25). The as-adjusted numbers provide comparative information for fiscal 2026 organic growth. See Appendix for reconciliation to as-adjusted figures.

Organic growth rates exclude the impact of foreign currency translation, M&A and divestitures.

11 See Appendix for a reconciliation to the appropriate GAAP measure.

Full Year 2026 Outlook

Revenue

$3.835 to $3.915B

Organic Growth

+7% to +9%

Adj. EBITDA Margin

29.4% to 30.0%

Free cash flow

≈1X Non-GAAP

Net Income

Non-GAAP EPS $3.47 to $3.64

Non-GAAP Operating Margin 27.9% to 28.5%

Total Growth +7% to +9%

Organic ARR Growth +12% to +14%

FY'26

FY'26 Outlook Notes

Strong organic growth expected to continue in FY'26 with continued progression towards $3B ARR, $4B revenue, 30% EBITDA margins in 2027

Operating margins driven by continued gross margin expansion

Free cash flow expected to be up significantly Y:Y

Net interest expense ≈$80M

Avg. shares of 235M

Tax rate of 17.5%

See earnings supplement for detailed assumptions for guidance.

Full Year 2026 Segment Details

FY'26 Segment Details and Outlook(1)

AECO FIELD SYSTEMS T&L

Revenue

≈$1.71B (FY'25=$1.5B)

≈$1.6B (FY'25=$1.54B)

≈$565M (FY'25=$527M)

(1)

Organic revenue growth Y/Y % +Low-mid-teens % +LSD/MSD% +MSD% Organic ARR growth Y/Y % +Mid-teens % +Low/mid-teens % +HSD % Operating income margin % ≈35% ≈31% ≈24%

Note: Figures shown represent the midpoint of the guidance ranges.

(1) As-adjusted figures exclude the financial results from the mobility business (divested in Q1'25). See Appendix for reconciliation to as-adjusted figures.

Q2'26 Outlook

Revenue

$938M to $963M

Organic Growth

6% to 9%

Adj. EBITDA Margin

27.4% to 28.0%

Non-GAAP EPS $0.78 to $0.82

Non-GAAP Operating Margin 25.8% to 26.4%

Total Growth 7% to 10%

Organic ARR Growth +12% to +14%

Q2'26

Q2'26 Outlook Notes

Net interest expense ≈$22M

Avg. share count of 234M

Tax rate of 17.5%

Historical segment financials (as-reported)

Revenue ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

$339

$300

$306

$414

$1,359

$335

$350

$358

$454

$1,499

$391

Field Systems

419

379

375

363

1,536

359

393

409

379

1,539

409

Transportation & Logistics

195

192

195

207

789

146

133

134

136

549

140

TOTAL

$953

$871

$876

$983

$3,683

$841

$876

$901

$970

$3,587

$940

Operating Income ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

$127

$79

$89

$169

$464

$92

$106

$114

$200

$512

$123

Field Systems

110

124

110

442

107

121

137

114

478

118

Transportation & Logistics

155

121

Unallocated Corporate

(27)

(30)

(29)

(37)

(123)

(26)

(33)

(31)

(32)

(123)

(32)

TOTAL

$234

$194

$225

$284

$937

$198

$223

$254

$313

$988

$243

Operating Income Margin %

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

37.4%

26.4%

29.1%

40.8%

34.1%

27.3%

30.4%

31.8%

44.1%

34.2%

31.5%

Field Systems

23.4%

28.9%

33.0%

30.4%

28.8%

29.7%

30.8%

33.4%

30.0%

31.1%

28.8%

Transportation & Logistics

18.6%

18.7%

21.0%

20.3%

19.7%

17.9%

21.6%

25.8%

22.9%

21.9%

24.2%

TOTAL

24.6%

22.3%

25.7%

28.8%

25.4%

23.6%

25.4%

28.2%

32.3%

27.5%

25.9%

Historical revenue growth metrics (as-reported)

AECO

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Organic

18%

14%

13%

43%

22%

16%

17%

10%

14%

Acquisitions

Divestitures

-1%

Foreign Currency

+1%

-1%

TOTAL

18%

13%

14%

43%

22%

-1%

17%

10%

17%

Field Systems

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Organic

-12%

-6%

-2%

-4%

12%

Acquisitions

Divestitures

-1%

-26%

-24%

-25%

-19%

-21%

-6%

Foreign Currency

TOTAL

-13%

-30%

-24%

-20%

-22%

-14%

14%

Transportation & Logistics

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Organic

-1%

Acquisitions

29%

Divestitures

-1%

-26%

-39%

-37%

-35%

-15%

Foreign Currency

-1%

-2%

TOTAL

32%

10%

-25%

-31%

-34%

-30%

-4%

Total Trimble

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Organic

17%

10%

12%

Acquisitions

Divestitures

-1%

-14%

-13%

-10%

-14%

-9%

-8%

-7%

-10%

-3%

Foreign Currency

-1%

TOTAL

-12%

-9%

-3%

-12%

-1%

-3%

12%

Note: Rounding may cause totals to differ from the sum of the components.

Historical ARR growth metrics (as-reported)

ARR ($MMs)

Q1-23

Q2-23

Q3-23

Q4-23

Q1-24

Q2-24

Q3-24

Q4-24

Q1-25

Q2-25

Q3-25

Q4-25

Q1-26

AECO

$924

$985

$1,022

$1,067

$1,094

$1,164

$1,210

$1,269

$1,294

$1,360

$1,423

$1,475

$1,510

Field Systems

273

283

290

289

304

308

328

341

358

386

409

400

Transportation & Logistics

451

614

624

626

631

641

649

525

492

501

508

525

Total

$1,648

$1,883

$1,935

$1,982

$2,029

$2,113

$2,187

$2,258

$2,176

$2,210

$2,310

$2,392

$2,435

Organic ARR Growth %

Q1-23

Q2-23

Q3-23

Q4-23

Q1-24

Q2-24

Q3-24

Q4-24

Q1-25

Q2-25

Q3-25

Q4-25

Q1-26

AECO

19%

18%

17%

18%

19%

16%

17%

16%

14%

Field Systems

12%

13%

16%

18%

21%

24%

17%

18%

20%

12%

Transportation & Logistics

Total

13%

14%

13%

14%

15%

13%

14%

12%

Historical segment financials (as-adjusted)

Agriculture ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Revenue

$85

Operating Income

Operating Margin

9.8%

0.0%

Mobility ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Revenue

$79

$74

$73

$72

$298

$23

Operating Income

Operating Margin

11.2%

12.1%

13.2%

10.8%

11.8%

0.0%

53rd Week ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Revenue

$90

Operating Income

Operating Margin

68.5%

0.0%

Total Adjustments ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

Revenue

$164

$74

$73

$163

$474

$23

Operating Income

105

Operating Margin

10.5%

12.1%

13.2%

42.9%

22.3%

0.0%

Note: As-adjusted figures exclude the financial results from the agriculture business (divested in Q2'24), mobility business (divested in Q1'25), and the 53rd week of fiscal 2024.

Historical segment financials (as-adjusted)

Revenue (as-adjusted) ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

$339

$300

$306

$338

$1,283

$335

$350

$358

$454

$1,499

$391

Field Systems

334

379

375

359

1,447

359

393

409

379

1,539

409

Transportation & Logistics

116

117

122

123

479

123

133

134

136

527

140

TOTAL

$790

$796

$803

$821

$3,210

$818

$876

$901

$970

$3,565

$940

Operating Income (as-adjusted) ($MMs)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

$127

$79

$89

$105

$400

$92

$106

$114

$200

$512

$123

Field Systems

110

124

112

436

107

121

137

114

478

118

Transportation & Logistics

116

121

Unallocated Corporate

(27)

(30)

(29)

(34)

(120)

(26)

(33)

(31)

(32)

(123)

(32)

TOTAL

$217

$185

$215

$214

$832

$198

$223

$254

$313

$988

$243

Operating Income Margin % (as-adjusted)

Q1-24

Q2-24

Q3-24

Q4-24

FY-24

Q1-25

Q2-25

Q3-25

Q4-25

FY-25

Q1-26

AECO

37.4%

26.4%

29.1%

31.2%

27.3%

30.4%

31.8%

44.1%

34.2%

31.5%

Field Systems

26.9%

28.9%

33.0%

31.2%

30.1%

29.7%

30.8%

33.4%

30.0%

31.1%

28.8%

Transportation & Logistics

23.6%

23.0%

25.7%

24.2%

24.1%

21.2%

21.5%

25.8%

22.9%

24.2%

TOTAL

27.5%

23.3%

26.8%

26.1%

25.9%

24.2%

25.4%

28.2%

32.3%

27.7%

25.9%

Note: As-adjusted figures exclude the financial results from the agriculture business (divested in Q2'24), mobility business (divested in Q1'25), and the 53rd week of fiscal 2024.

Disclaimer

Trimble Inc. published this content on May 06, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 06, 2026 at 11:29 UTC.