Itron (NASDAQ:ITRI) Shares Gap Up Following Better-Than-Expected Earnings

Itron, Inc. (NASDAQ:ITRI)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $84.78, but opened at $91.75. Itron shares last traded at $104.4390, with a volume of 654,388 shares traded.

The scientific and technical instruments company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.30. Itron had a return on equity of 19.54% and a net margin of 12.31%.The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS.

Itron News Summary

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.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ITRI shares. Roth Capital restated a “buy” rating and set a $136.00 target price on shares of Itron in a research report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price objective 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. Raymond James Financial assumed coverage on Itron in a research report on Tuesday, April 21st. They set an “underperform” rating for the company. Zacks Research lowered Itron from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, TD Cowen lowered their target price on Itron from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Itron presently has a consensus rating of “Hold” and an average price target of $131.22.

Insider Activity

In other news, SVP Donald L. Reeves III sold 319 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $27,167.14. Following the sale, the senior vice president owned 24,689 shares in the company, valued at approximately $2,083,010.93. This trade represents a 1.29% 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. Insiders sold a total of 3,946 shares of company stock valued at $324,420 over the last 90 days. Insiders own 1.77% of the company’s stock.

Institutional Investors Weigh In On Itron

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in 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 valued at $53,000 after purchasing an additional 81 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Itron by 29.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 101 shares during the last quarter. Impact Partnership Wealth LLC grew its holdings in Itron by 4.7% in the 1st quarter. Impact Partnership Wealth LLC now owns 2,661 shares of the scientific and technical instruments company’s stock valued at $239,000 after buying an additional 119 shares during the period. Xponance LLC grew its holdings in Itron by 3.2% in the 4th quarter. Xponance LLC now owns 3,877 shares of the scientific and technical instruments company’s stock valued at $360,000 after buying an additional 120 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Itron by 112.4% during the 4th quarter. Private Trust Co. NA now owns 274 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

The stock’s 50 day moving average price is $83.04 and its 200 day moving average price is $89.73. 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 company has a market cap of $4.57 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 0.74 and a beta of 1.32.

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.