Itron (NASDAQ:ITRI) Updates Q3 2026 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its third quarter 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.500-1.600 for the period, compared to the consensus estimate of 1.550. The company issued revenue guidance of $590.0 million-$600.0 million, compared to the consensus revenue estimate of $607.4 million. Itron also updated its FY 2026 guidance to 6.300-6.500 EPS.

Itron Stock Up 22.7%

ITRI traded up $19.28 during trading on Tuesday, hitting $104.06. The company had a trading volume of 1,023,520 shares, compared to its average volume of 850,952. The company has a market capitalization of $4.61 billion, a PE ratio of 16.55, a PEG ratio of 0.74 and a beta of 1.32. The company has a quick ratio of 2.24, a current ratio of 2.66 and a debt-to-equity ratio of 0.97. Itron has a one year low of $77.77 and a one year high of $142.00. The firm’s 50-day moving average price is $83.04 and its 200 day moving average price is $89.73.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.30. Itron had a return on equity of 19.54% and a net margin of 12.31%.During the same quarter in the previous 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 has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. As a group, equities analysts expect that Itron will post 6.01 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen reduced their price target on Itron from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Raymond James Financial started coverage on shares of Itron in a research note on Tuesday, April 21st. They issued an “underperform” rating for the company. Roth Capital reissued a “buy” rating and issued a $136.00 price objective on shares of Itron in a research report on Wednesday, April 29th. Zacks Research cut Itron from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Oppenheimer lifted their price target on Itron from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $131.22.

Insider Buying and Selling

In related news, SVP John F. Marcolini sold 322 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $27,167.14. Following the transaction, the senior vice president owned 24,689 shares in the company, valued at approximately $2,083,010.93. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 319 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total transaction of $26,914.03. Following the completion of the transaction, the senior vice president directly owned 29,100 shares in the company, valued at approximately $2,455,167. This represents a 1.08% 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 90 days, insiders sold 3,946 shares of company stock valued at $324,420. Company insiders own 1.77% of the company’s stock.

More Itron News

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.

Institutional Trading of Itron

Several institutional investors have recently added to or reduced their stakes in ITRI. Northwestern Mutual Wealth Management Co. grew its stake in shares of Itron by 343.6% in the second 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 in the last quarter. M&T Bank Corp increased its position in shares of Itron by 10.0% in the second quarter. M&T Bank Corp now owns 2,141 shares of the scientific and technical instruments company’s stock worth $282,000 after purchasing an additional 194 shares during the period. 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 acquiring an additional 81 shares during the last quarter. Jump Financial LLC acquired a new position in Itron during the second quarter valued at approximately $1,609,000. Finally, Cerity Partners LLC lifted its stake in Itron by 10.2% during the second quarter. Cerity Partners LLC now owns 5,431 shares of the scientific and technical instruments company’s stock worth $715,000 after purchasing an additional 503 shares during the last quarter. 96.19% of the stock is currently 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.