Trimble reports Q1 EPS 72c, consensus 67c

Reports Q1 revenue $915.4M, consensus $930.88M. "Record annualized recurring revenue of $1.65 billion and record gross margin of 64.2 percent in the first quarter demonstrates the quality of our Connect and Scale strategy," said Rob Painter, Trimble’s president and chief executive officer. "Our first quarter total revenue and profitability exceeded expectations that we communicated to shareholders in February. We are updating 2023 guidance to reflect the Transporeon acquisition, which closed on April 3, 2023."