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Trimble misses Wall Street expectations as sales drop

WESTMINSTER — Industrial technology company Trimble Inc. (Nasdaq: TRMB), which last year moved its headquarters from Silicon Valley to the Boulder Valley, posted lower year-over-year sales in the fourth quarter of 2022, a period that failed to live up Wall Street analysts’ expectations.

Trimble posted $856.5 million in revenue, down 8% compared with the fourth quarter of 2021 and off the Zacks Consensus Estimate by nearly 2%.

Net earnings in the fourth quarter of 2022 were $85.6 million, down from $115.3 million during the same period of the prior year. 

Looking ahead, Trimble is projecting 2023 full-year sales between $3.7 billion and $3.8 billion. Last year, Trimble consolidated operations from Boulder and Englewood into its Westminster campus, located at 10368 Westmoor Drive in the Westmoor Technology Park. That campus is now the company’s corporate headquarters.

The Westminster location houses more than 1,000 of Trimble’s employees, its largest employment center in the U.S., according to information provided by the company.

The Westminster hub includes agriculture, construction and geospatial market segments.

Source: BizWest