Trimble (NASDAQ: TRMB) has announced a significant change in the reporting of its segment financial results, aiming to better reflect the company's organizational structure and business models. The new reporting structure, which will be implemented starting with the first quarter of 2024, will comprise three operating segments: Architects, Engineers, Construction and Owners (AECO), Field Systems, and Transportation and Logistics (T&L).
In the previous fiscal years 2023 and 2022, Trimble's agriculture business was included in its financial results. However, this business was contributed to its joint venture with AGCO, which closed on April 1, 2024.
The new segment financial results for 2022 and 2023, as if reported under the new structure, are now available, providing a comprehensive view of how the changes affect the company's financial performance.
Investors and stakeholders can access the detailed financial segment information for the previous four quarters and the full fiscal years for 2023 and 2022, as well as the prepared remarks and an accompanying slide presentation on the new reporting segments in the investor relations section of Trimble's website.
As a result of these announcements, the company's shares have moved -2.8% on the market, and are now trading at a price of $60.32. Check out the company's full 8-K submission here.
