Itron (NASDAQ:ITRI) Releases Quarterly Earnings Results

Itron (NASDAQ:ITRI) posted its earnings results on Tuesday. The scientific and technical instruments company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.29 by $0.30, Briefing.com reports. Itron had a net margin of 12.31% and a return on equity of 19.54%. The firm had revenue of $562.90 million for the quarter, compared to analysts’ expectations of $566.34 million. During the same quarter last year, the firm earned $1.62 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. Itron updated its Q3 2026 guidance to 1.500-1.600 EPS and its FY 2026 guidance to 6.300-6.500 EPS.

Here are the key takeaways from Itron’s conference call:

• Profitability exceeded expectations in Q2, with record adjusted gross margin of 41.4%, adjusted EBITDA of $97 million, and free cash flow of $81 million despite revenue being down year over year.
• Itron reported a $4.4 billion backlog, record pipeline levels, and growing adoption among mid-market utilities; annual recurring revenue rose approximately 21% year over year to $417 million.
• Management raised the full-year non-GAAP EPS outlook to $6.30-$6.50, while narrowing revenue guidance to $2.37 billion-$2.41 billion; second-half revenue is expected to grow about 8% year over year.
• Revenue declines in Device Solutions and Networked Solutions reflected product sales and project-deployment timing, respectively, while Outcomes revenue grew 13% and Resiliency Solutions contributed $16 million following the Urbint and Locusview acquisitions.
• Management sees durable demand for grid modernization, resiliency, gas-system safety upgrades, and grid-edge intelligence, including solutions that can defer infrastructure spending; gas refresh opportunities are described as multiple times historical norms.

Itron Stock Performance

Shares of NASDAQ ITRI traded down $5.76 during trading on Wednesday, reaching $101.26. 375,306 shares of the stock traded hands, compared to its average volume of 887,402. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.66 and a quick ratio of 2.24. The stock has a market capitalization of $4.49 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 0.74 and a beta of 1.32. Itron has a 52-week low of $77.77 and a 52-week high of $142.00. The company has a 50-day moving average of $83.62 and a 200-day moving average of $89.80.

Itron News Roundup

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Q2 earnings beat expectations: Itron reported non-GAAP diluted EPS of $1.59, exceeding the $1.29 consensus estimate. Adjusted EBITDA rose 8% to $97 million, while adjusted gross margin expanded to a record 41.4% from 36.9% a year earlier. Itron Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year earnings outlook raised: Itron now expects 2026 non-GAAP EPS of $6.30 to $6.50, above the prior consensus estimate of approximately $5.98. Management cited constructive demand related to grid expansion, resiliency and the need to accelerate power availability. Itron reports Q2 earnings and raises full-year 2026 EPS outlook
• Positive Sentiment: Recurring revenue and analyst support improved: Annual recurring revenue climbed 21% to $417 million, and Needham raised its price target from $116 to $128 while assigning a “Buy” rating. The target implies meaningful upside based on the reported reference price. Benzinga
• Neutral Sentiment: Third-quarter guidance was mixed: Itron projected EPS of $1.50 to $1.60, broadly in line with expectations, but revenue of $590 million to $600 million was below the roughly $607 million consensus estimate. Itron Q2 Revenue Falls 7 Percent to $563 Million
• Negative Sentiment: Revenue and GAAP profit declined: Second-quarter revenue fell 7% year over year to $563 million, below estimates, primarily because of lower Networked Solutions revenue. GAAP net income dropped to $53 million from $68 million, and free cash flow declined to $81 million from $91 million.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 442 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total transaction of $37,291.54. Following the completion of the transaction, the chief financial officer owned 117,478 shares in the company, valued at $9,911,618.86. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 319 shares of Itron stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $26,914.03. Following the completion of the transaction, the senior vice president owned 29,100 shares of the company’s stock, valued at $2,455,167. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 3,946 shares of company stock valued at $324,420. 1.77% of the stock is owned by insiders.

Institutional Trading of Itron

A number of institutional investors have recently modified their holdings of the business. Employees Retirement System of Texas purchased a new position in Itron in the 3rd quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Itron by 343.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock worth $46,000 after acquiring an additional 268 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Itron during the third quarter worth $49,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Itron by 25.3% in the second quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 81 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Itron by 271.6% in the fourth quarter. UMB Bank n.a. now owns 732 shares of the scientific and technical instruments company’s stock valued at $68,000 after purchasing an additional 535 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on ITRI. JPMorgan Chase & Co. decreased their price target on Itron from $133.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Itron in a research report on Friday, May 8th. Roth Capital restated a “buy” rating and issued a $136.00 price objective on shares of Itron in a research note on Wednesday, April 29th. Raymond James Financial assumed coverage on Itron in a research report on Tuesday, April 21st. They set an “underperform” rating for the company. Finally, Oppenheimer lifted their target price on Itron from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $131.33.

About Itron

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.