Early Adopters of GCP Standard Advance Interoperability, Expanding Choices for Utilities and Meter VendorsLIBERTY LAKE, Wash., March 13, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, and CHINT Global, a global metering solutions provider with regional headquarters in Singapore, have introduced the first residential electric smart meter based on the DLMS User Association’s AC Electricity Smart Meter (ACESM) Generic Compa ...

Groundbreaking Grid-Edge DERMS Solution Enhances Local Resilience, Demand Flexibility and Real-Time DER CoordinationLIBERTY LAKE, Wash., March 12, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, is helping utilities improve integration of distributed energy resources (DERs) and enhance grid flexibility with its IntelliFLEX solution. As a grid edge DERMS solution, IntelliFLEX facilitates real-time visibility, control and o ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Itron (ITRI) .Itron currently has an average brokerage recommendation (ABR) of 1.46, on a scale ...

LIBERTY LAKE, Wash., March 06, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ:ITRI), which is innovating new ways for utilities and cities to manage energy and water, and its channel partner, National Rural Telecommunications Cooperative (NRTC), are working together with Arkansas Valley Electric Cooperative Corporation (AVECC), to improve grid resiliency and reliability for AVECC's members across the Arkansas River Valley. AVECC is leveraging its existing fiber optic network to unlock a broad range of applica ...

LIBERTY LAKE, Wash., March 06, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, and its channel partner, National Rural Telecommunications Cooperative (NRTC), are working together with Arkansas Valley Electric Cooperative Corporation (AVECC), to improve grid resiliency and reliability for AVECC’s members across the Arkansas River Valley. AVECC is leveraging its existing fiber optic network to unlock a broad range of applic ...

Core Viewpoint - Itron (ITRI) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, indicating a positive outlook for the company's stock price [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in a company's earnings picture, which is a significant factor influencing stock prices [2][4]. - A strong correlation exists between earnings estimate revisions and near-term stock movements, with institutional investors playing a role in this relationship [4][6]. Company Performance and Outlook - The recent upgrade for Itron reflects an improvement in the company's underlying business, suggesting that investors may push the stock price higher [5][10]. - Itron is expected to earn $5.19 per share for the fiscal year ending December 2025, representing a year-over-year change of -7.7%, although estimates have increased by 10.7% over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7][9]. - Itron's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Itron Inc. (ITRI) reported non-GAAP earnings per share (EPS) of $1.35 for fourth-quarter 2024, which beat the Zacks Consensus Estimate by 28.6%. The company reported earnings of $1.23 per share in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenues were $613 million, which beat the Zacks Consensus Estimate by 1.6%. The top line grew 6% year over year, exceeding the high end of the company’s guided range. The uptick was driven by higher demand across its N ...

Financial Data and Key Metrics Changes - Fourth quarter revenue was $613 million, a 6% increase year over year, driven by strong customer demand and operational gross margin of 34.9%, which was 90 basis points higher than last year [17][10] - GAAP net income for the fourth quarter was $58 million or $1.26 per diluted share, compared to $44 million or $0.96 per diluted share in the prior year [17] - Non-GAAP net income for the quarter was $62 million or $1.35 per diluted share, versus $1.23 a year ago, with free cash flow of $70 million compared to $39 million a year ago [19][17] Business Line Data and Key Metrics Changes - Device solutions revenue decreased 5% on a constant currency basis, primarily due to a decline in legacy electric meter sales [20] - Network solutions revenue grew 6% year over year, driven by increased new project deployments and strong operational execution [20] - Outcomes revenue grew 25% year over year, primarily due to increased software licenses and services, with a record revenue of $91 million and a gross margin of 44% [20][24] Market Data and Key Metrics Changes - The full-year 2024 bookings totaled $2.7 billion, contributing to a record year-end backlog of $4.7 billion, with a book-to-bill ratio of 1.11% [11][10] - Market demand remains stable with a healthy pipeline of opportunities related to grid resiliency, capacity, safety, and automation [11] Company Strategy and Development Direction - The company anticipates a book-to-bill ratio of at least one to one for 2025, focusing on grid edge intelligence platform content from network solutions and outcomes segments [15] - The company is actively looking for M&A opportunities in grid intelligence areas to enhance its portfolio [43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2027 targets for revenue growth, margin expansion, and increased free cash flow generation, despite a normalization of revenue growth in 2025 [34][32] - The company expects 2025 revenue to be in the range of $2.4 billion to $2.5 billion, indicating flat year-over-year growth, but approximately 6% growth when normalizing for catch-up revenue from 2024 [30][32] Other Important Information - Total debt was $1.265 billion, with net debt at $214 million and cash and equivalents at $1.05 billion as of December 31 [28] - The company achieved a record free cash flow of $208 million or 9% of revenue in 2024, compared to $98 million or 5% in the prior year [27] Q&A Session Summary Question: Insights on cash generation and M&A pipeline - Management expects continued improvement in free cash flow conversion from 2024 to 2025, with a target of 10% to 12% of revenue for free cash flow [40] - The company is actively looking at various M&A targets, focusing on outcomes and grid intelligence areas [43] Question: Demand environment and outcomes growth - The outcomes business is expected to be the fastest-growing segment for 2024 to 2025, with significant potential for recurring revenue growth [47][51] Question: Regional demand and regulatory environment - North America leads in opportunities, with strong demand in Asia Pacific, while Europe is approached with caution due to market conditions [58][60] Question: Competitive environment and applications - The company maintains a substantial lead in grid edge intelligence, with a focus on innovation and customer support [62] Question: 2025 bookings and revenue recognition - Bookings are expected to be lumpy, with a one-to-one book-to-bill ratio anticipated for the year [70][115] Question: Impact of tariffs and supply chain - The company is monitoring potential tariffs on components from Mexico, with a focus on maintaining supply chain flexibility [72][144] Question: Partnerships and project updates - Partnerships with companies like GE Vernova and ABB are in pilot stages, with strong customer interest but not yet generating revenue [90] Question: Outcomes margins and variability - Outcomes gross margins are expected to improve year over year, but variability is anticipated due to the subscale nature of the business [85]

Fourth Quarter 2024 Earnings Conference Call Tom Deitrich – President and Chief Executive Officer Joan Hooper – Senior Vice President and Chief Financial Officer Paul Vincent – Vice President, Investor Relations ©2025 ITRON CONFIDENTIAL PROPRIETARY February 25, 2025 Conference Call Agenda • CEO – Business and Operations Update • CFO – Financial Results and 2025 Outlook • Q&A Forward Looking Statements This presentation contains, and our officers and representatives may from time to time make, "forward-looki ...

Financial Performance - Itron reported a significant increase in bookings, with total bookings for the period reaching $X million, reflecting a Y% increase compared to the previous year[30]. - The total backlog at the end of the reporting period was $X billion, with a twelve-month backlog of $Y million, indicating strong future revenue potential[30]. - Total bookings increased to $2,698 million in 2024 from $2,155 million in 2023, representing a growth of 25.2%[31]. - Total backlog rose to $4,734 million in 2024, up from $4,511 million in 2023, indicating a growth of 4.9%[31]. - The company anticipates a revenue growth rate of X% for the upcoming fiscal year, driven by increased customer demand and new product launches[9]. Revenue Segments - The Device Solutions segment generated $X million in revenue, accounting for Y% of total revenue, driven by increased demand for smart meters and related hardware[25]. - The Networked Solutions segment saw a revenue increase of X%, totaling $Y million, attributed to the growth in advanced metering infrastructure and smart city applications[26]. - Itron's Outcomes segment reported recurring revenue of $X million, representing a Y% increase, highlighting the company's focus on data analytics and software services[29]. Research and Development - Itron's investment in research and development increased by Y%, reflecting its commitment to advancing smart grid technologies and IIoT solutions[12]. - Research and development investment was approximately $215 million in 2024, accounting for 9% of total revenues, compared to 10% in 2023 and 2022[39]. Workforce and Employment - The workforce consisted of 5,788 employees as of December 31, 2024, with 5,040 being permanent employees[40]. - The Americas region employed 2,657 individuals, representing 53% of the total workforce[42]. - As of December 31, 2024, the total number of employees is 5,040, with 53% located in the Americas, 27% in Europe, Middle East and Africa, and 20% in Asia Pacific & Other[42]. - The company has 748 contingent workers as of December 31, 2024, which are not included in the total employee count[43]. Strategic Initiatives - The company plans to expand its market presence through strategic acquisitions and partnerships, aiming to enhance its technology portfolio and service offerings[14]. - The company invested in strategic alliances to enhance product advancement and market entry, focusing on technology exchange and joint sales[47]. - The company completed several acquisitions, including Silver Spring Networks in 2018, to enhance its technology offerings[14]. Competitive Landscape - The company’s competitive advantage lies in its innovative capacity and ability to provide integrated solutions at scale[44]. - The competitive landscape includes major competitors such as LM Ericsson, Landis+Gyr, Advanced Energy Industries, and Xylem, Inc.[43]. - The company emphasizes its competitive advantage through an intelligent IIoT platform that is device and transport agnostic, enabling near real-time decision making[44]. Supply Chain and Operational Risks - The company has multiple sources of supply for many materials, but certain components are supplied by limited or sole-source vendors, posing supply risks[34]. - Delays in the availability of raw materials and component parts could negatively impact revenues and operational results[68]. - The company is affected by the availability and prices of raw materials and component parts used in manufacturing, including metals, plastics, and electronic components[68]. - There is reliance on single suppliers for certain raw materials, which could lead to supply chain disruptions and increased costs[68]. - Inflation in raw material costs, freight charges, and labor costs may rise above historical levels due to an uncertain economic environment[68]. Financial Obligations and Risks - As of December 31, 2024, the company's total outstanding indebtedness was $1.3 billion, with a $500 million revolving line of credit available under the 2018 credit facility[82]. - The company faces risks related to its indebtedness, including restrictions on operational flexibility and potential inability to raise additional capital[81]. - The company may need to restructure or refinance its debt if unable to meet debt service obligations, which could lead to defaults and impair liquidity[83]. Regulatory and Compliance Issues - The company is materially in compliance with governmental regulations, with no known regulations pending that would significantly impact operations[49]. - The company is subject to compliance obligations under various privacy and data protection laws, which may increase business costs and impact practices[119]. - The company has invested significant resources to comply with the Sarbanes-Oxley Act, particularly in maintaining effective internal controls over financial reporting[102]. Environmental and Sustainability Concerns - The company emphasizes the importance of managing resources efficiently in response to macro trends and climate challenges[20]. - Environmental regulations and potential liabilities could incur significant costs and adversely affect the company's operations[141]. - The company is subject to various climate-related and sustainability regulations, which may impose additional compliance costs and oversight obligations[142].