Trimble (TRMB) reported net income of $59.1 million in the third quarter of 2026, compared with $111.5 million in the same period a year earlier. Diluted earnings per share (EPS) were $0.25, versus $0.46 in 3Q25. Revenue totaled $966.8 million, up 7% from $901.2 million in 3Q25, with organic growth also at 7%.
Operating income was $142.0 million, or 14.7% of revenue, versus $150.5 million in 3Q25. On an adjusted basis (non-GAAP, which excludes items the company considers non-recurring), operating income was $262.6 million, or 27.2% of revenue, adjusted net income was $200.5 million and adjusted earnings per share were $0.86. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with adjustments) was $278.5 million, or 28.8% of revenue.
Annualized recurring revenue (ARR) reached $2.56 billion, up 11% in one year and 10% on an organic basis. The company describes it as a "record." In the quarter, Trimble repurchased about 4.0 million shares for $231.7 million (buyback). In the first nine months of 2026, free cash flow was $643.6 million, versus $206.2 million a year earlier. In that period, there was a net loss of $313.7 million, due to a goodwill write-down of $562.0 million in the T&L division, which the company tied to the sustained decline in market value and share price.
For full-year 2026, Trimble projects revenue between $3.91 billion and $3.94 billion, a loss per share of $0.55 to $0.49 and adjusted earnings per share of $3.63 to $3.69. For 4Q26, it projects revenue of $1.031 billion to $1.061 billion, earnings per share of $0.83 to $0.89 and adjusted earnings per share of $1.13 to $1.19.
