Trimble Inc. posted fourth-quarter revenue of $206.8 million in its transportation and logistics segment, a 6% increase from the same period in 2023.

The supply chain technology provider reported total revenue of $983.4 million in the quarter, up 5% on a year-over-year basis. Adjusted quarterly earnings per share increased 27% year over year to 89 cents.

Trimble (NASDAQ: TRMB) released its fourth-quarter earnings results and hosted a call with analysts before the market opened on Wednesday.

“The transportation team did a terrific job, obviously, with controlling what they can control. The macros continue to be difficult … really globally in the freight market,” Rob Painter, president and CEO, said during the call with analysts. “We won many new [clients] throughout the year, some of the biggest company names you’ll find in any vertical, and then the team did a nice job of cross-selling within that.”

Trimble’s Transporeon business achieved a record 20% year-over-year increase in bookings for full-year 2024, the company said.

Transporeon is a cloud-based TMS connecting carriers, logistics providers and shippers that Trimble acquired in 2022.

Westminster, Colorado-based Trimble is a provider of technology for trucking companies, freight brokerages and 3PLs. In addition to transportation, the company operates in industries such as buildings and infrastructure, geospatial hardware and software, and resources and utilities.

The company’s guidance for the first quarter of 2025 calls for total revenue between $794 million and $824 million and adjusted earnings per share of 55 to 61 cents.

Trimble expects full-year 2025 revenue ranging from $3.37 billion to $3.47 billion and earnings between $2.76 and $2.98 per share.

For full-year 2024, Trimble’s total revenue fell 3% year over year to $3.68 billion. The company’s 2024 transportation and logistics revenue increased 9.5% year over year to $788.8 million.

Painter said the transportation and construction markets remain in flux with the possibility of a U.S. tariff war with Canada, Mexico and European nations.

“On the change in demand since the president came into office, nothing discernible is in the pipeline. You hear sentiments: … Are we going to have onshoring, reshoring or supply chains moving around?” Painter said. “I think overall, we’re in a wait-and-see mode.”

As the freight market continues to improve, Painter expects to see more bookings from existing customers for the company’s logistics and transportation solutions.

“An economic recovery that translates into a freight market recovery is more transactions happening for each of the customers that we already have,” he said.

During fiscal year 2024, Trimble repurchased 2.9 million shares for $175 million.

Painter announced during the call that Trimble’s board of directors had increased the company’s repurchase authorization of common stock to $1 billion, which replaces the existing authorization and goes into effect immediately.

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