Core Insights - Itron Inc. (ITRI) reported non-GAAP EPS of $2.46 for Q4 2025, exceeding Zacks Consensus Estimate by 12.3% and up from $1.35 in the prior-year quarter, driven by higher non-GAAP operating income and a tax benefit [1][2] Financial Performance - Quarterly revenues were $572 million, a 7% decline year over year, but above the guidance range of $555-$565 million and the Zacks Consensus Estimate of $561.8 million [2] - Full-year revenues totaled $2.4 billion, down 3% [2] - Product revenues were $474.3 million (83% of total revenues), down 10.9% year over year, while service revenues increased by 21% to $97.3 million (17%) [4] Strategic Acquisitions - Itron acquired Urbint and Locusview to enhance its utility-resiliency strategy, leading to the launch of a new Resiliency Solutions reporting segment [3] - The new segment is expected to contribute $65-$70 million in revenues for 2026 with approximately 70% gross margins [4] Bookings and Backlog - Itron's bookings reached $737 million for the quarter, contributing to full-year bookings of $2.1 billion, with a backlog of $4.5 billion at the end of the quarter [5] - The Outcomes segment backlog hit a record high due to sustained demand for Grid Edge Intelligence [5] Stock Performance - Despite mixed results, ITRI's shares rose 7.9% to close at $96.43 on Feb. 17, with a further 2% increase in pre-market trading [6] Segment Performance - Device Solutions revenues fell 3% to $104.8 million, Networked Solutions revenues decreased 15% to $352 million, while Outcomes revenues rose 23% to $111.8 million [10][11] - Resiliency Solutions generated $3 million in revenues, reflecting a partial-quarter contribution from the Urbint acquisition [11] Operating Metrics - Gross margin improved to 40.7%, a 580-basis point increase year over year, attributed to a favorable product and customer mix [12] - Non-GAAP operating income rose to $90.6 million from $70.6 million in the prior year, with non-GAAP operating margins expanding to 15.9% [12] Cash Flow and Balance Sheet - Cash and cash equivalents were $1.02 billion as of Dec. 31, 2025, down from $1.3 billion due to the Urbint acquisition and share buybacks [14] - Itron generated $119 million in cash from operations and $112 million in free cash flow during the quarter, up from $70 million in the previous year [15] Financial Guidance - For Q1 2026, Itron expects revenues between $565 million and $575 million, indicating a 6% year-over-year decline at the midpoint, with non-GAAP EPS anticipated in the range of $1.20-$1.30 [16] - For the full year 2026, revenues are projected between $2.35 billion and $2.45 billion, suggesting a 1% increase year over year at the midpoint, with non-GAAP EPS estimated between $5.75 and $6.25 [17]

Core Insights - Itron, Inc. (ITRI) reported non-GAAP EPS of $1.54 for Q3 2025, exceeding the Zacks Consensus Estimate by 4.1%, but down 16.3% year-over-year [1][9] - Revenue for the quarter was $581.6 million, a decline from $615.5 million in the prior-year quarter, attributed to portfolio optimization and project timing [2][9] - The company has raised its non-GAAP EPS outlook for 2025 to a range of $6.84 to $6.94, up from previous estimates of $6.00 to $6.20 [5] Financial Performance - Revenue decreased by 5.5% year-over-year, with product revenues at $494.3 million (85% of total revenues) down 8.2%, while service revenues increased by 13.1% to $87.3 million (15%) [5][9] - Gross margin improved to 37.7%, a 360-basis point increase year-over-year, driven by a favorable product and customer mix [11] - Non-GAAP operating income reached a record high of $89 million, marking a 12.7% year-over-year increase [11] Backlog and Bookings - Itron ended the quarter with a record backlog of $4.3 billion, up from $4 billion a year ago, with third-quarter bookings of $380 million [6][9] Segment Performance - Device Solutions segment revenue fell 16% to $103.1 million, impacted by declines in legacy EMEA electricity products and lower water volumes in North America [7] - Networked Solutions revenue dipped 6% to $365.4 million, primarily due to project implementation timing [10] - Outcomes segment revenue rose 11% to $25.8 million, driven by growth in recurring revenue [10] Outlook - For Q4 2025, Itron expects revenues between $555 million and $565 million, representing a 9% decline year-over-year at the midpoint, with non-GAAP EPS anticipated in the range of $2.15 to $2.25 [14] Balance Sheet and Cash Flow - As of September 30, 2025, cash and cash equivalents totaled $1.331 billion, with net long-term debt at $787.9 million [13] - The company generated strong cash flow, with net cash from operations totaling $118 million and free cash flow of $113 million [13]

Core Insights - Itron Inc. reported non-GAAP EPS of $1.62 for Q2 2025, exceeding the Zacks Consensus Estimate by 21.8% and surpassing management's guidance of $1.30-$1.40 [1][9] - Revenue for the quarter was $607 million, nearly flat compared to $609 million in the prior-year quarter, and came in at the upper end of the guided range [2][9] - The company adjusted its full-year revenue outlook downward by nearly 3%, projecting revenue of $2.35-$2.4 billion, while raising its EPS forecast midpoint by 13% to $6.00-$6.20 [3][4] Revenue Breakdown - Product revenues were $517.2 million, accounting for 85.2% of total revenues, down 3% year over year, while service revenues increased by 17.6% to $89.6 million [5] - The Device Solutions segment saw a 5% decline in revenue to $113 million, while the Networked Solutions segment's revenue dipped 1% to $409 million [7] - Outcomes revenue rose 9% to $85 million, driven by growth in recurring revenue and software licenses [10] Operational Performance - Itron's gross margin improved to 36.9%, a 230 basis point increase year over year, attributed to a favorable product and customer mix [11] - Non-GAAP operating income reached a record high of $82 million, marking a 19% year-over-year increase, with adjusted EBITDA also hitting a new record at $90 million [11] Financial Position - As of June 30, 2025, cash and cash equivalents totaled $1.224 billion, with net long-term debt at $787 million [12] - The company generated strong cash flow, with net cash from operations totaling $97 million and free cash flow of $91 million, nearly doubling the prior year's performance [13] Future Outlook - For Q3 2025, Itron expects revenues between $570 million and $585 million, representing a 6% year-over-year decline at the midpoint, with non-GAAP EPS anticipated in the range of $1.45-$1.55 [14]

Core Viewpoint - Itron, Inc. is expected to report first-quarter 2025 earnings on May 1, with anticipated revenues between $610 million and $620 million, reflecting a year-over-year increase of 1.8% [1][2] Revenue and Earnings Estimates - The Zacks Consensus Estimate for first-quarter revenues is $614.3 million, while non-GAAP earnings per share are projected to be between $1.25 and $1.35, with a consensus of $1.30 per share [1][2] - The company reported earnings of $1.24 per share in the same quarter last year [2] Recent Performance and Trends - Itron has beaten the Zacks Consensus Estimate in each of the last four quarters, with an average surprise of 40.8% [2] - The stock has increased by 18.4% over the past year, contrasting with a 7.1% decline in the Zacks Electronics-Testing Equipment industry [2] Factors Influencing Q1 Earnings - Strong customer demand, the growing uptake of the grid edge intelligence platform, and robust operational execution are expected to support Itron's performance [3] - The rollout of smart meters and broader adoption of IoT solutions in utilities are identified as positive trends, while potential slowdowns in project deployment or budget constraints may pose challenges [3] Business Segments Performance - Revenue expectations for the three business segments are as follows: Device Solutions at $127.5 million (up 0.6%), Outcomes at $412 million (up 1.1%), and Networked Solutions at $72.6 million (up 4.9%) year-over-year [7] Strategic Developments - Itron has introduced IntelliFLEX, a grid-edge Distributed Energy Resource Management System, aimed at optimizing utility operations and enhancing grid capacity by up to 20% [8] - The company secured $2.7 billion in orders in 2024, with a book-to-bill ratio of 1.11, primarily from grid-edge intelligence projects [5] Recent Collaborations - Itron partnered with Norgesnett for edge computing deployment in the Nordic region, marking a significant step in modernizing the electricity grid [11] - Collaborations with Tesla and Xcel Energy aim to deploy an advanced virtual power plant in Colorado, enhancing the management of distributed energy resources [12] - A partnership with Microsoft focuses on integrating AI technology to improve operational efficiency for utilities [13] - Collaboration with NVIDIA aims to deliver AI-powered solutions for grid resilience and efficiency [14]