The Sunnyvale, California-based company reported adjusted earnings per share of 63 cents, an 11% y/y decrease. Adjusted operating income decreased by nearly 8% y/y to $211 million.
Trimble is a technology provider for trucking companies, freight brokerages and 3PLs. Among Trimble Transportation’s services are enterprise, mobility, final-mile, mapping and maintenance solutions.
“More than 90% of the top 200 trucking companies in North America are Trimble Transportation customers,” Rob Painter, president and CEO, said during the earnings call. “The very strong majority of those are not buying everything they could be buying from us.”
“We think that there’s an attractive opportunity to upsell and cross-sell within the base. … So we need to continue to work with the go-to-market and product level to deliver the most customer value so that we can increase the level of penetration into that market segment.”
Trimble reported its adjusted earnings per share grew by 10.6% from 2021 to reach 73 cents in the first quarter of 2022. Adjusted operating income grew by 11.4% year over year to $233 million.
3rd-quarter outlook
Table: Trimble Navigation’s key performance indicators
