$TRMB · TRIMBLE INC.
Trimble filed its 10-Q for the quarter ended October 2, 2026. Q3 revenue rose 7.3% YoY to $966.8M, with subscription and services up to $642.5M from $598.7M. Q3 net income fell to $59.1M ($0.25 diluted EPS) from $111.5M ($0.46) a year earlier, driven by a higher tax provision of $62.2M versus $13.6M. A $562.0M goodwill impairment recorded in the first three quarters pushed nine-month results to a $313.7M net loss versus $267.4M profit a year ago.
- Q3 revenue $966.8M, up 7.3% YoY from $901.2M.
- Q3 net income $59.1M vs $111.5M; diluted EPS $0.25 vs $0.46.
- $562.0M goodwill impairment drove nine-month net loss of $313.7M.
- Q3 income tax provision jumped to $62.2M from $13.6M.
- Stock repurchases totaled $552.6M in the first three quarters of 2026.
Shares fell 17.31% in the regular session to $54.25, with extended-hours last trade at $54.76 (+0.94% vs close). The sharp drop reflects the goodwill impairment and earnings decline despite revenue growth.
A large goodwill impairment and unremediated material weaknesses overshadow solid revenue growth, signaling balance-sheet and control concerns for investors.
Trimble's shift toward recurring subscription revenue (66% of Q3 revenue) mirrors the broader industrial-software transition, though the impairment signals pressure on acquired goodwill valuations.
The filing discloses material weaknesses in internal control over financial reporting that Trimble has not yet remediated. The $562.0M goodwill impairment indicates potential overvaluation of prior acquisitions.