Itron (NASDAQ:ITRI) Posts Quarterly Earnings Results

Key Points

• Itron beat Q1 expectations with $1.49 EPS vs. a $1.26 consensus and $587M revenue, producing $92M adjusted EBITDA, $79M free cash flow and a widened adjusted gross margin of ~40.7%.
• Management issued Q2 guidance of $1.25–$1.35 EPS and ~$560–$570M revenue, below Street hopes, citing lumpy network deployments and timing risk despite $476M bookings and a $4.4B backlog.
• Recurring and outcomes businesses are growing rapidly — Outcomes revenue rose 22% YoY and ARR reached $414M (up 28%), while Resiliency Solutions acquisitions added $16M in Q1 and are expected to be accretive to growth, margin and EBITDA (EPS accretive by 2027).

Itron (NASDAQ:ITRI - Get Free Report) released its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.23, FiscalAI reports. Itron had a return on equity of 20.04% and a net margin of 12.72%.The firm had revenue of $586.98 million during the quarter, compared to the consensus estimate of $572.13 million. During the same period in the previous year, the company posted $1.52 earnings per share. The firm's quarterly revenue was down 3.3% on a year-over-year basis. Itron updated its Q2 2026 guidance to 1.250-1.350 EPS.

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

• Itron beat expectations in Q1 with $587M revenue, $92M adjusted EBITDA, $1.49 non‑GAAP EPS and $79M free cash flow while adjusted gross margin widened ~490 bps to 40.7%.
• Bookings were $476M and backlog ended the quarter at $4.4B, supporting multi‑year visibility, but Q2 guidance of $560–$570M (midpoint down ~7% YoY) reflects near‑term timing effects.
• Recurring and outcomes businesses are growing quickly — Outcomes revenue rose 22% YoY and total company ARR reached $414M (up 28%), driving more predictable, higher‑margin revenue.
• The Resiliency Solutions acquisitions (Urbint and Locusview) contributed $16M in Q1, are integrating on track, and management expects them to be accretive to growth, gross margin and EBITDA (EPS accretive by 2027).
• Management emphasized lumpy network deployments and timing risk — second‑half growth depends on converting large network projects, and macro/regulatory volatility could affect deployment schedules.

Itron Stock Performance

NASDAQ ITRI opened at $87.00 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.56. The stock's 50 day simple moving average is $92.76 and its 200-day simple moving average is $99.67. The company has a market cap of $3.86 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.77 and a beta of 1.50. Itron has a 1-year low of $78.53 and a 1-year high of $142.00.

Itron News Summary

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Q1 results beat consensus — Itron reported $1.49 EPS and ~$587M revenue, topping estimates on both metrics and showing healthy margins and ROE, which supports the stock’s upside reaction to the print. Article Title
• Positive Sentiment: Intraday recovery/market sentiment — after an early sell‑off the stock “battled back” and closed modestly higher, suggesting investors were willing to look past near‑term weakness because of the beat and fundamentals. Article Title
• Neutral Sentiment: Company filings and call available — management filed the press release, slide deck and held the Q1 call (transcript available), which investors can use to judge backlog, margin drivers, and regional demand nuances. These are informational and can shape near‑term sentiment. Press Release & Slides
• Neutral Sentiment: Earnings transcript provides detail on bookings and margin cadence — the full call transcript gives detail on product mix and services trends that could influence future quarters but are not immediate binary catalysts. Article Title
• Negative Sentiment: Q2 guidance came in below Street expectations — Itron guided Q2 EPS to $1.25–$1.35 and revenue ~$560–$570M versus higher consensus, prompting an initial sell‑off as investors reassessed near‑term growth and margin trajectory. Article Title
• Negative Sentiment: Cyberattack disclosure increases risk — Itron confirmed a mid‑April hack with some system access; management says operations were unaffected, but such incidents can raise customer and regulatory concerns and keep valuation multiples pressured. Article Title

Insider Activity

In other news, CFO Joan S. Hooper sold 3,533 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $95.92, for a total value of $338,885.36. Following the completion of the sale, the chief financial officer directly owned 118,275 shares in the company, valued at $11,344,938. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 519 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $97.84, for a total transaction of $50,778.96. Following the completion of the transaction, the senior vice president directly owned 29,951 shares in the company, valued at approximately $2,930,405.84. This represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,180 shares of company stock valued at $5,085,475 in the last three months. Company insiders own 1.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ITRI. Employees Retirement System of Texas purchased a new stake in Itron in the 3rd quarter valued at $32,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Itron by 343.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company's stock valued at $46,000 after acquiring an additional 268 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Itron in the third quarter valued at about $49,000. EverSource Wealth Advisors LLC increased its position in Itron by 25.3% during the second quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 81 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Itron by 271.6% during the fourth quarter. UMB Bank n.a. now owns 732 shares of the scientific and technical instruments company's stock worth $68,000 after purchasing an additional 535 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a research report on Wednesday, January 14th. Zacks Research raised Itron from a "strong sell" rating to a "hold" rating in a research report on Thursday, February 26th. Robert W. Baird set a $128.00 price target on Itron and gave the stock an "outperform" rating in a research note on Wednesday, February 18th. JPMorgan Chase & Co. lowered their target price on shares of Itron from $133.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Finally, Guggenheim set a $155.00 target price on shares of Itron in a research report on Friday, February 13th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Itron currently has an average rating of "Moderate Buy" and an average target price of $133.10.

Itron Company Profile

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.