Trimble Inc. (NASDAQ: TRMB) revealed its financial results for the first quarter of 2024 on May 3, 2024. The company's president and CEO, Rob Painter, expressed satisfaction with the performance, stating, "We had a strong start to the year, delivering record annualized recurring revenue of $2.03 billion and record first quarter gross margin. And on April 1, we closed our agriculture joint venture with AGCO."

Painter further highlighted the company's strategic moves, saying, "With our new reporting segment and organization structure in place, we have further simplified and focused the Company to enable our customers to transform how they work, while creating value for our shareholders."

Looking ahead, Trimble provided guidance for the full year 2024, expecting total revenue between $3,570 million and $3,670 million and non-GAAP EPS of $2.60 to $2.80. The company also anticipates revenue between $845 million and $875 million and non-GAAP EPS of $0.56 to $0.60 for the second quarter of 2024. These projections take into account the closure of the joint venture with AGCO at the beginning of the second quarter.

Trimble emphasized that due to certain considerations, it is unable to provide a precise reconciliation of these measures to GAAP. The company outlined its non-GAAP financial measures and provided explanations for the adjustments made.

Investors interested in further details can participate in Trimble's conference call scheduled for May 3, 2024, at 8:00 a.m. ET. The call will be live-streamed on the company's website.

Trimble, known for transforming how people move, build, and live, continues to focus on core technologies in positioning, modeling, and data analytics to enhance customer productivity, quality, safety, and sustainability.

Trimble concluded its announcement with a disclaimer regarding forward-looking statements and the factors that could impact the company's future financial and operational results.