Itron (NASDAQ:ITRI) Announces Earnings Results

Itron (NASDAQ:ITRI) released its quarterly 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%. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s 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.

Itron Stock Up 23.5%

Shares of NASDAQ ITRI traded up $19.90 during mid-day trading on Tuesday, reaching $104.68. 654,388 shares of the company’s stock were exchanged, compared to its average volume of 845,808. The company has a current ratio of 2.66, a quick ratio of 2.24 and a debt-to-equity ratio of 0.97. The business has a fifty day simple moving average of $83.04 and a 200 day simple moving average of $89.73. Itron has a twelve month low of $77.77 and a twelve month high of $142.00. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.74 and a beta of 1.32.

Analyst Ratings Changes

ITRI has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Itron in a research note on Friday, May 8th. TD Cowen reduced their target price on shares of Itron from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Roth Capital reissued a “buy” rating and set a $136.00 target price on shares of Itron in a research report on Wednesday, April 29th. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of Itron in a research report on Wednesday, May 20th. Finally, Raymond James Financial started coverage on Itron in a research report on Tuesday, April 21st. They issued an “underperform” rating on the stock. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $131.22.

Itron News Roundup

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Non-GAAP diluted EPS was $1.59, exceeding analysts’ consensus estimate of $1.29 by $0.30. Adjusted EBITDA rose 8% to $97 million, and adjusted gross margin reached a record 41.4%, up 460 basis points year over year. Itron Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Itron raised its full-year 2026 non-GAAP EPS outlook to $6.30-$6.50, above the roughly $5.98 analyst consensus, signaling confidence in improving operating performance and demand across utility and infrastructure markets. Full-year revenue guidance is $2.37-$2.41 billion.
• Positive Sentiment: Annual recurring revenue increased 21% to $417 million, while Outcomes revenue grew 13%. The company also reported $550 million in quarterly bookings and a substantial $4.4 billion backlog, supporting longer-term visibility.
• Neutral Sentiment: Third-quarter guidance calls for non-GAAP EPS of $1.50-$1.60, broadly around consensus of $1.55, but revenue of $590-$600 million is below the $607.4 million estimate. This suggests earnings may remain resilient even as project timing weighs on sales.
• Negative Sentiment: Second-quarter revenue fell 7% to $563 million, primarily because Networked Solutions revenue declined 17% amid lower volumes and project-deployment timing. Device Solutions revenue also edged lower.
• Negative Sentiment: GAAP net income attributable to Itron dropped to $53 million from $68 million, and GAAP diluted EPS declined to $1.19 from $1.47. Non-GAAP EPS also slipped slightly from $1.62 a year earlier, while free cash flow decreased to $81 million from $91 million.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 319 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total transaction of $26,914.03. Following the sale, the senior vice president directly owned 29,100 shares in the company, valued at $2,455,167. This trade represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 322 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total transaction of $27,167.14. Following the completion of the sale, the senior vice president directly owned 24,689 shares in the company, valued at $2,083,010.93. This represents a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 3,946 shares of company stock worth $324,420. Company insiders own 1.77% of the company’s stock.

Institutional Investors Weigh In On Itron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Soros Fund Management LLC bought a new position in shares of Itron in the 4th quarter valued at about $34,843,000. Millennium Management LLC boosted its position in Itron by 269.3% during the fourth quarter. Millennium Management LLC now owns 506,867 shares of the scientific and technical instruments company’s stock valued at $47,068,000 after purchasing an additional 369,617 shares during the last quarter. Merewether Investment Management LP grew its stake in Itron by 1,552.7% in the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock valued at $39,593,000 after purchasing an additional 282,587 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Itron by 65.2% during the 4th quarter. Schroder Investment Management Group now owns 588,872 shares of the scientific and technical instruments company’s stock worth $54,683,000 after purchasing an additional 232,341 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Itron during the 4th quarter worth approximately $19,133,000. 96.19% of the stock is owned by institutional investors.

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.