Trimble Inc. stock (US8962391058): focus shifts to transportation spin-off and Q1 earnings

BAE Systems and Trimble Military and Advanced Systems received U.S. Space Force agreements to develop the next-generation Maritime and Aviation Receiver Card (MAVRC) GPS receiver for the MGUE program, according to the Space Force. Phase one covers requirements, risk reduction and documentation before a design concept review; phase two is expected to cover prototyping, demos, integration and testing.

Trimble Inc. reported Q1 results on May 6, citing record recurring revenue and gross margins. Revenue rose 12% year over year to $939.9M (12% organic); annualized recurring revenue increased 12% to $2.43B. GAAP operating income rose 15.3% to $144M. Non-GAAP net income was $186.9M ($0.79 EPS); adjusted EBITDA $257.7M. Full-year guidance: revenue $3.835B–$3.915B and EPS $3.47–$3.64.

Eaton (NYSE:ETN) said the U.S. Air Force Research Laboratory awarded it a $7 million, 24-month contract to use quantum computing, machine learning, and advanced visualization to improve power grid resilience and protection. The work, with Infleqtion and Penn State, targets detection and response to multiple concurrent physical and cyber threats, addressing NERC N-2 contingency requirements.

ExxonMobil Moçambique Limitada issued McDermott Energy Solutions (UK) a letter of intent for limited engineering and procurement work on Rovuma LNG Phase 1 midstream development. The award supports planning ahead of a final investment decision expected in 2026. Rovuma LNG targets 12 modular trains totaling 18.6 mtpa, with start-up in 2031. ExxonMobil says the 30-year project could generate about $150B in revenues for Mozambique’s government.

Serbia President Aleksandar Vucic said Serbia will open a joint UAV factory with Elbit Systems, with inauguration expected Sept 15-20. Elbit will hold 51% and Serbia’s state arms firm SDPR 49%. The factory relates to a five-year contract covering precision rockets and unmanned systems, plus ISTAR, digitization and upgrades.

The U.S. Department of Defense, according to The Washington Post, asked defense contractors to submit within 21 days production and delivery schedules for critical systems, citing depleted stockpiles. CSIS estimates cite heavy early use of missiles and falling Patriot and THAAD inventories. The Pentagon is working with Northrop Grumman and Lockheed Martin, including a $58.6B deal to triple PAC-3 output by 2030, pending a stalled $1.15T defense budget.