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LIBERTY LAKE, Wash., July 23, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that it will participate virtually in the Oppenheimer 29th Annual Technology, Internet & Communications Conference to be held Aug. 11, 2026.

Itron (ITRI - Free Report) ended the recent trading session at $83.39, demonstrating a -2.01% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.79%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 1.55%.

Prior to today's trading, shares of the energy and water meter company had gained 5.64% outpaced the Computer and Technology sector's gain of 3.44% and the S&P 500's gain of 4.28%.

Investors will be eagerly watching for the performance of Itron in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 28, 2026. It is anticipated that the company will report an EPS of $1.3, marking a 19.75% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $564.72 million, down 6.93% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.01 per share and revenue of $2.38 billion, indicating changes of -15.71% and +0.34%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Itron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. Itron is holding a Zacks Rank of #4 (Sell) right now.

In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 14.16. This signifies a discount in comparison to the average Forward P/E of 24.85 for its industry.

Also, we should mention that ITRI has a PEG ratio of 0.75. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.02.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 20, finds itself in the top 9% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

July 07, 2026 16:05 ET  | Source: Itron, Inc.

LIBERTY LAKE, Wash., July 07, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that it will release financial results for the quarter ended June 30, 2026 at 8:30 a.m. EDT on Tuesday, July 28, 2026. Itron management will host a conference call at 10:00 a.m. EDT to discuss the results.

Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at Itron Investor Events & Presentations. Participants should access the webcast 10 minutes prior to the start of the call to install and test any necessary audio software. Participants can also pre-register for the webcast at any time using the link above.

A webcast replay of the conference call will be available through Aug. 4, 2026 and may be accessed on the company’s website at Itron Investor Events & Presentations.

About Itron

Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron® and the Itron Logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.
Paul Vincent
Vice President, Investor Relations
512-560-1172

Stephanie Tarlton, CFA
Principal, Investor Relations
(512) 676-8365
[email protected]

Itron, Inc.

LinkedIn: www.linkedin.com/company/itronincX: https://x.com/ItronIncNewsroom: https://www.itron.com/newsroomBlog: https://blogs.itron.com

Itron (ITRI - Free Report) ended the recent trading session at $83.87, demonstrating a +1.11% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.05% for the day. Elsewhere, the Dow saw a downswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.24%.

Heading into today, shares of the energy and water meter company had lost 0.77% over the past month, outpacing the Computer and Technology sector's loss of 2.81% and the S&P 500's loss of 1.42%.

The upcoming earnings release of Itron will be of great interest to investors. In that report, analysts expect Itron to post earnings of $1.31 per share. This would mark a year-over-year decline of 19.14%. Meanwhile, the latest consensus estimate predicts the revenue to be $564.72 million, indicating a 6.93% decrease compared to the same quarter of the previous year.

ITRI's full-year Zacks Consensus Estimates are calling for earnings of $6.01 per share and revenue of $2.38 billion. These results would represent year-over-year changes of -15.71% and +0.34%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for Itron. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Itron possesses a Zacks Rank of #3 (Hold).

In the context of valuation, Itron is at present trading with a Forward P/E ratio of 13.81. This denotes a discount relative to the industry average Forward P/E of 25.23.

We can also see that ITRI currently has a PEG ratio of 0.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ITRI's industry had an average PEG ratio of 2.06 as of yesterday's close.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 20, putting it in the top 9% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Award Recognizes Customers Delivering Innovative Solutions with Itron Technology

Global call for 2026 Itron Innovator Award submissionsProgram spotlights Itron customers using Itron’s partner program to solve energy and water challengesRecipient to be recognized at Itron Inspire 2026 in Houston, Texas; Entries accepted through Aug. 17, 2026 LIBERTY LAKE, Wash., June 25, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), the intelligent infrastructure provider for modern energy and water management, is accepting nominations for its eighth annual Itron Innovator Award.

The award recognizes an Itron utility or city customer that has leveraged Itron’s partner enablement program to deliver an innovative solution that improves resource efficiency, enhances safety or strengthens community outcomes.

The winner will be announced at Itron Inspire, Itron’s premier customer-focused event, taking place Oct. 16-21, 2026, at the Marriott Marquis Houston in Houston, Texas. Nominations are open through Aug. 17, 2026.

To submit a nomination or learn more about eligibility criteria, visit www.itron.com/itron-innovator-award.

Eligible nominations must demonstrate a customer solution that is piloting, deployed or delivering measurable results and integrates with Itron technology such as networks, back-office software or distributed intelligence solutions.

“Our customers continue to challenge us and lead the way in developing new approaches to modern infrastructure challenges,” said Christina Haslund, head of partner management at Itron. “Through our partner ecosystem, we’re enabling utilities and cities to create scalable solutions that deliver meaningful outcomes for their communities.”

The Itron Innovator Award highlights how customers are using Itron’s partner ecosystem to address evolving energy, water and smart city challenges. The 2025 winner was recognized for its leadership and innovation in leveraging Itron’s partner enablement program to enhance grid reliability and deliver measurable improvements in resilience, efficiency and customer experience.

Itron’s partner enablement program brings together an ecosystem of technologies, partners and tools to help customers accelerate innovation and deploy integrated solutions that address operational and community needs.

A list of past award winners along with submission details can be found on the award landing page.

About Itron

Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron® the Itron Logo are registered trademarks of Itron Inc. in the United States and other countries and region. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]

Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]

Itron, Inc.

LinkedIn: www.linkedin.com/company/itronincX: www.x.com/itronincNewsroom: https://itron.com/newsroomBlog: https://itron.com/blog

In the latest trading session, Itron (ITRI - Free Report) closed at $79.26, marking a -2.27% move from the previous day. The stock's change was less than the S&P 500's daily loss of 1.22%. Meanwhile, the Dow experienced a drop of 0.98%, and the technology-dominated Nasdaq saw a decrease of 1.35%.

The energy and water meter company's shares have seen an increase of 3.95% over the last month, surpassing the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 1.56%.

Analysts and investors alike will be keeping a close eye on the performance of Itron in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.31, showcasing a 19.14% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $564.72 million, indicating a 6.93% decrease compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.01 per share and revenue of $2.38 billion. These totals would mark changes of -15.71% and +0.34%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Itron. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% downward. As of now, Itron holds a Zacks Rank of #4 (Sell).

In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 13.5. This represents a discount compared to its industry average Forward P/E of 24.62.

Also, we should mention that ITRI has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Electronics - Testing Equipment industry held an average PEG ratio of 1.98.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 27, which puts it in the top 12% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

LIBERTY LAKE, Wash., June 15, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, is working together with Watercare Services, New Zealand’s largest water and wastewater utility, to modernize their water network by upgrading its existing mechanical meters with 100,000 Itron Intelis wSource digital water meters, as part of Watercare’s plan to connect almost half a million smart meters in total across the Auckland region. This deployment represents one of the largest smart water metering upgrades in New Zealand and will give Watercare Services greater visibility into its network to accelerate leak detection and improve billing accuracy.

This digital transformation project supports Watercare’s broader technology programme to modernize Auckland’s water network and improve how data is used to manage assets, customer use and leak detection. With the integration of advanced sensors and analytics, Itron’s solution positions Watercare to meet the evolving needs of its customers while improving resiliency. 

Itron’s Intelis wSource meters use an NB-IoT network to deliver frequent and highly accurate consumption data. Built to operate for 15 years with minimal maintenance, even in Auckland’s harsh marine environment, the meter provides reliable data transmission and long-lasting durability. Together, these capabilities will help improve operations, lower costs and create a more sustainable network.

“We continue to identify new ways to conserve and protect the world’s most vital water resources. In support of New Zealand’s 2025 Water Services (Wastewater Environmental Performance Standards), our goal is to enable utilities, such as Watercare Services, to reduce real water losses across their network,” said Justin Patrick, senior vice president of Device Solutions at Itron. “The Intelis wSource water meter will eliminate manual meter reads, support efficient operations, provide infrastructure insights and strengthen the utility’s future infrastructure resiliency.” 

About Itron
Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron®, the Itron Logo, and Intelis are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]

Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]

Itron, Inc.

LinkedIn: www.linkedin.com/company/itronincX: www.x.com/itronincNewsroom: https://itron.com/newsroomBlog: https://itron.com/blog

Itron (ITRI - Free Report) closed the most recent trading day at $88.56, moving -1.25% from the previous trading session. This change lagged the S&P 500's daily loss of 0.41%. Meanwhile, the Dow experienced a drop of 0.36%, and the technology-dominated Nasdaq saw a decrease of 0.89%.

Shares of the energy and water meter company have depreciated by 4.13% over the course of the past month, underperforming the Computer and Technology sector's gain of 14.93%, and the S&P 500's gain of 9.71%.

Analysts and investors alike will be keeping a close eye on the performance of Itron in its upcoming earnings disclosure. The company's earnings report is set to go public on April 28, 2026. On that day, Itron is projected to report earnings of $1.26 per share, which would represent a year-over-year decline of 17.11%. Meanwhile, our latest consensus estimate is calling for revenue of $570.97 million, down 5.96% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.99 per share and revenue of $2.4 billion, indicating changes of -15.99% and +1.28%, respectively, compared to the previous year.

It is also important to note the recent changes to analyst estimates for Itron. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% lower. Itron currently has a Zacks Rank of #3 (Hold).

Investors should also note Itron's current valuation metrics, including its Forward P/E ratio of 14.98. For comparison, its industry has an average Forward P/E of 24.67, which means Itron is trading at a discount to the group.

It's also important to note that ITRI currently trades at a PEG ratio of 0.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Electronics - Testing Equipment stocks are, on average, holding a PEG ratio of 3.29 based on yesterday's closing prices.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 27% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

LIBERTY LAKE, Wash., April 28, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its first quarter ended March 31, 2026. Key results for the quarter include (compared with the first quarter of 2025):

Revenue of $587 million, decreased 3%;GAAP net income attributable to Itron, Inc. of $53 million, decreased $12 million;GAAP diluted earnings per share of $1.18, decreased $0.24 per share;Non-GAAP diluted EPS of $1.49, decreased $0.03 per share;Adjusted EBITDA of $92 million, increased 5%; andFree cash flow of $79 million, increased $11 million. "Itron’s first quarter results were ahead of our expectations on strong execution and certain projects running ahead of schedule, resulting in record gross profit", said Tom Deitrich, Itron’s president and CEO. "Our utility customers are prioritizing resiliency and affordability. This multi-year investment trend to add intelligence to the grid is structural and aligns well with Itron leading positions in essential networks, analytics, and operational intelligence applications."

Summary of First Quarter Consolidated Financial Results
(All comparisons made are against the prior year period unless otherwise noted)

Revenue
Total first quarter revenue of $587 million compared to $607 million in the prior year. The decrease was driven primarily by portfolio optimization and the timing of project deployments.

Device Solutions revenue decreased 1%, or 9% in constant currency, due to lower legacy electricity product sales related to portfolio optimization in EMEA and lower North American project deployments.

Networked Solutions revenue decreased 13%, or 14% in constant currency, due to the timing of project deployments.

Outcomes revenue increased 22%, or 20% in constant currency, due to increased recurring and services revenue.

Resiliency Solutions revenue was $16 million which now includes revenue from both Urbint and Locusview. The Locusview acquisition closed in January 2026.

Adjusted Gross Margin
Itron's first quarter adjusted gross margin of 40.7% increased 490 basis points from the prior year due to customer and product mix and operational efficiencies.

Operating Expenses and Operating Income
GAAP operating expenses of $169 million increased $28 million from the prior year. Non-GAAP operating expenses of $154 million increased $17 million from the prior year. Both increases were due to higher sales, and general & administrative expenses largely due to the additions of Urbint and Locusview.

GAAP operating income of $68 million was $9 million lower than the prior year due to higher operating expenses, partially offset by higher gross profit.

Non-GAAP operating income of $84 million was $4 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.

Net Income and Earnings per Share (EPS)
Net income attributable to Itron, Inc. for the quarter was $53 million, or $1.18 per diluted share, compared with net income attributable to Itron, Inc. of $65 million, or $1.42 per diluted share in 2025. The decrease was driven by lower GAAP operating income and lower interest income.

Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, and the tax effect of excluding these expenses, was $68 million, or $1.49 per diluted share, compared with $70 million, or $1.52 per diluted share, in 2025. The decrease was driven by lower interest income, partially offset by higher Non-GAAP operating income.

Cash Flow
Net cash provided by operating activities was $86 million in the first quarter compared with $72 million in the prior year. Free cash flow was $79 million in the first quarter compared with $67 million in the prior year. The increase in free cash flow was primarily due to lower tax payments.

Other Measures

Total backlog at quarter end was $4.4 billion compared with $4.7 billion in the prior year. Bookings in the quarter totaled $476 million. 

Q2 2026 Outlook

Outlook for the second quarter of 2026 is as follows:

Revenue between $560 and $570 millionNon-GAAP diluted EPS between $1.25 and $1.35 Earnings Conference Call
Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on April 28, 2026. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.itron.com/events-presentations. Participants should access the webcast 10 minutes prior to the start of the call. A webcast replay of the conference call will be available through May 5, 2026 and may be accessed on the company's website at https://investors.itron.com/events-presentations.

About Itron

Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com

Itron® and the Itron Logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Cautionary Note Regarding Forward Looking Statements
This release contains, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical factors nor assurances of future performance. These statements are based on our expectations about, among others, revenues, operations, financial performance, earnings, liquidity, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. This document reflects our current strategy, plans and expectations and is based on information currently available as of the date of this release. When we use words such as "expect", "intend", "anticipate", "believe", "plan", "goal", "seek", "project", "estimate", "future", "strategy", "objective", "may", "likely", "should", "will", "will continue", and similar expressions, including related to future periods, they are intended to identify forward-looking statements. Forward-looking statements rely on a number of assumptions and estimates. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Therefore, you should not rely on any of these forward-looking statements. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plans, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws, regulations, tariffs, sanctions, trade policies and retaliatory responses, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks, uncertainties caused by adverse economic conditions, including without limitation those resulting from extraordinary events or circumstances and other factors that are more fully described in Part I, Item 1A: Risk Factors included in our Annual Report on Form 10-K for the year ended Dec 31, 2025 and other reports on file with the Securities and Exchange Commission. Itron undertakes no obligation to update or revise any information in this press release.

Non-GAAP Financial Information

To supplement our consolidated financial statements, which are prepared in accordance with accounting principles generally accepted in the United States (GAAP), we use certain adjusted or non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share (EPS), adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. We provide these non-GAAP financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-GAAP financial measures as we believe the net result is a measure of our core business. We believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Our non-GAAP financial measures may be different from those reported by other companies. When providing future outlooks and/or earnings guidance, a reconciliation of forward-looking non-GAAP diluted EPS to the GAAP diluted EPS has not been provided because we are unable to predict with reasonable certainty the potential amount or timing of restructuring related expenses and their related tax effects without unreasonable effort. These costs are uncertain, depend on various factors and could have a material impact on GAAP results for the guidance period. A more detailed discussion of why we use non-GAAP financial measures, the limitations of using such measures, and reconciliations between non-GAAP and the nearest GAAP financial measures are included in this press release.

For additional information, contact:

Itron, Inc.

Paul Vincent
Vice President, Investor Relations
(512) 560-1172

Stephanie Tarlton, CFA
Principal, Investor Relations
(512) 676-8365
[email protected]

Itron, Inc.

LinkedIn: https://www.linkedin.com/company/itroninc X: https://x.com/ItronInc Newsroom: https://na.itron.com/newsroom Blog: https://blogs.itron.com  ITRON, INC.CONSOLIDATED STATEMENTS OF OPERATIONS     (Unaudited, in thousands, except per share data)     Three Months Ended
March 31,    2026  2025 Revenues   Product revenues$477,801 $523,141  Service revenues 109,181  84,010   Total revenues 586,982  607,151 Cost of revenues   Product cost of revenues 300,209  346,442  Service cost of revenues 50,454  43,490   Total cost of revenues 350,663  389,932 Gross profit 236,319  217,219      Operating expenses   Sales, general and administrative 105,357  86,911  Research and development 54,999  50,090  Amortization of intangible assets 8,172  4,479  Restructuring 214  (553) Loss on sale of business —  79   Total operating expenses 168,742  141,006      Operating income 67,577  76,213 Other income (expense)   Interest income 5,660  11,710  Interest expense (5,809) (5,593) Other income (expense), net (233) (51)  Total other income (expense) (382) 6,066      Income before income taxes 67,195  82,279 Income tax provision (13,609) (16,929)Net income 53,586  65,350  Net income (loss) attributable to noncontrolling interests 127  (124)Net income attributable to Itron, Inc.$53,459 $65,474      Net income per common share - Basic$1.20 $1.44 Net income per common share - Diluted$1.18 $1.42      Weighted average common shares outstanding - Basic 44,734  45,338 Weighted average common shares outstanding - Diluted 45,470  46,172         ITRON, INC.SEGMENT INFORMATION     (Unaudited, in thousands)     Three Months Ended
March 31,    2026  2025 Product revenues   Device Solutions$123,728 $125,387  Networked Solutions 321,147  374,522  Outcomes 31,872  23,232  Resiliency Solutions 1,054  —   Total Company$477,801 $523,141      Service revenues   Device Solutions$649 $484  Networked Solutions 29,516  28,210  Outcomes 64,038  55,316  Resiliency Solutions 14,978  —   Total Company$109,181 $84,010      Total revenues   Device Solutions$124,377 $125,871  Networked Solutions 350,663  402,732  Outcomes 95,910  78,548  Resiliency Solutions 16,032  —   Total Company$586,982 $607,151      Adjusted gross profit   Device Solutions$44,019 $37,753  Networked Solutions 143,073  148,714  Outcomes 40,024  30,752  Resiliency Solutions 11,698  —   Total Company$238,814 $217,219      Adjusted segment operating income   Device Solutions$36,892 $30,471  Networked Solutions 110,136  116,109  Outcomes 22,355  14,330  Resiliency Solutions 4,331  —   Total Company$173,714 $160,910      Adjusted Gross Margin 40.7% 35.8%        ITRON, INC.CONSOLIDATED BALANCE SHEETS      (Unaudited, in thousands)March 31, 2026 December 31, 2025ASSETS   Current assets    Cash and cash equivalents$712,850  $1,020,397  Accounts receivable, net 393,170   367,794  Inventories 239,892   242,886  Other current assets 178,769   191,241   Total current assets 1,524,681   1,822,318       Property, plant, and equipment, net 122,226   112,193 Deferred tax assets, net 257,627   265,183 Other long-term assets 64,928   63,352 Operating lease right-of-use assets, net 36,601   29,341 Intangible assets, net 277,138   83,337 Goodwill 1,695,003   1,344,983   Total assets$3,978,204  $3,720,707       LIABILITIES AND EQUITY   Current liabilities    Accounts payable$172,924  $156,288  Other current liabilities 50,932   58,864  Wages and benefits payable 91,652   122,245  Taxes payable 22,173   16,618  Current portion of debt, net —   459,522  Current portion of warranty 12,969   10,868  Unearned revenue 222,972   187,822   Total current liabilities 573,622   1,012,227       Long-term debt, net 1,573,835   788,805 Long-term warranty 7,342   7,350 Pension benefit obligation 60,163   61,998 Deferred tax liabilities, net 9,618   623 Operating lease liabilities 28,278   19,623 Other long-term obligations 96,398   91,885   Total liabilities 2,349,256   1,982,511       Equity    Common stock 1,511,342   1,661,350  Accumulated other comprehensive loss, net (69,331)  (56,505) Retained earnings 165,210   111,751   Total Itron, Inc. shareholders' equity 1,607,221   1,716,596  Noncontrolling interests 21,727   21,600   Total equity 1,628,948   1,738,196   Total liabilities and equity$3,978,204  $3,720,707            ITRON, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS    (Unaudited, in thousands)Three Months Ended March 31,    2026   2025 Operating activities    Net income$53,586  $65,350  Adjustments to reconcile net income to net cash provided by operating activities:     Depreciation and amortization of intangible assets 18,536   12,068   Non-cash operating lease expense 3,309   2,923   Stock-based compensation 20,070   16,558   Amortization of prepaid debt fees 1,849   1,781   Deferred taxes, net 3,470   (5,461)  Loss on sale of business —   79   Restructuring, non-cash 462   (25)  Other adjustments, net 175   (338)Changes in operating assets and liabilities, net of acquisition and sale of business:    Accounts receivable (17,623)  6,414  Inventories 2,364   (10,099) Other current assets 11,699   (5,959) Other long-term assets (2,419)  (1,087) Accounts payable, other current liabilities, and taxes payable 8,309   10,529  Wages and benefits payable (33,472)  (48,692) Unearned revenue 18,041   39,113  Warranty 2,076   241  Restructuring (4,190)  (8,328) Other operating, net (741)  (2,950)  Net cash provided by operating activities 85,501   72,117       Investing activities    Acquisitions of property, plant, and equipment (6,527)  (4,639) Business acquisitions, net of cash and cash equivalents acquired (515,055)  —  Other investing, net 10   5   Net cash used in investing activities (521,572)  (4,634)      Financing activities    Proceeds from borrowings 805,000   —  Payments on debt (460,000)  —  Issuance of common stock 677   2,195  Payments on call spread for convertible offering (92,817)  —  Repurchase of common stock (100,000)  —  Prepaid debt fees (21,166)  (175) Other financing, net (274)  (259)  Net cash provided by financing activities 131,420   1,761       Effect of foreign exchange rate changes on cash and cash equivalents (2,896)  2,786 Increase (decrease) in cash and cash equivalents (307,547)  72,030 Cash and cash equivalents at beginning of period 1,020,397   1,051,237 Cash and cash equivalents at end of period$712,850  $1,123,267          About Non-GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, free cash flow, adjusted gross profit, adjusted operating income, and constant currency. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and other companies may define such measures differently. For a reconciliation of each non-GAAP measure to the most comparable financial measure prepared and presented in accordance with GAAP, please see the table captioned Reconciliations of Non-GAAP Financial Measures to the Most Directly Comparable GAAP Financial Measures.

We use these non-GAAP financial measures for financial and operational decision making and/or as a means for determining executive compensation. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and ability to service debt by excluding certain expenses that may not be indicative of our recurring core operating results. These non-GAAP financial measures facilitate management's internal comparisons to our historical performance, as well as comparisons to our competitors' operating results. Our executive compensation plans exclude non-cash charges related to amortization of intangibles and depreciation of property, plant, and equipment and certain discrete cash and non-cash charges, such as restructuring, loss on sale of business, strategic initiative expenses, or acquisition and integration related expenses. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because they provide greater transparency with respect to key metrics used by management in its financial and operational decision making and because they are used by our institutional investors and the analyst community to analyze the health of our business.

Non-GAAP operating expenses and non-GAAP operating income – We define non-GAAP operating expenses as operating expenses excluding certain expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. We define non-GAAP operating income as operating income excluding the expenses related to the amortization of intangible assets, restructuring, loss on sale of business, strategic initiative expenses, and acquisition and integration related expenses. Acquisition and integration related expenses include costs, which are incurred to affect and integrate business combinations, such as professional fees; certain employee retention and salaries related to integration; employee severance; contract terminations; travel costs related to knowledge transfer; system conversion costs; and asset impairment charges. We consider these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of expenses that are not related to our core operating results. By excluding these expenses, we believe that it is easier for management and investors to compare our financial results over multiple periods and analyze trends in our operations. For example, in certain periods, expenses related to amortization of intangible assets may decrease, which would improve GAAP operating margins, yet the improvement in GAAP operating margins due to this lower expense is not necessarily reflective of an improvement in our core business. There are some limitations related to the use of non-GAAP operating expenses and non-GAAP operating income versus operating expenses and operating income calculated in accordance with GAAP. We compensate for these limitations by providing specific information about the GAAP amounts excluded from non-GAAP operating expense and non-GAAP operating income and evaluating non-GAAP operating expense and non-GAAP operating income together with GAAP operating expense and operating income.

Non-GAAP net income and non-GAAP diluted EPS – We define non-GAAP net income as net income attributable to Itron, Inc. excluding the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, and the tax effect of excluding these expenses. We define non-GAAP diluted EPS as non-GAAP net income divided by diluted weighted-average shares outstanding during the period calculated on a GAAP basis and then reduced to reflect any anti-dilutive impact of the convertible notes hedge transactions. We consider these financial measures to be useful metrics for management and investors for the same reasons that we use non-GAAP operating income. The same limitations described above regarding our use of non-GAAP operating income apply to our use of non-GAAP net income and non-GAAP diluted EPS. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP measures and evaluating non-GAAP net income and non-GAAP diluted EPS together with GAAP net income attributable to Itron, Inc. and GAAP diluted EPS.

For interim periods the budgeted annual effective tax rate (AETR) is used, adjusted for any discrete items, as defined in Accounting Standards Codification (ASC) 740 - Income Taxes. The budgeted AETR is determined at the beginning of the fiscal year. The AETR is revised throughout the year based on changes to our full-year forecast. If the revised AETR increases or decreases by 200 basis points or more from the budgeted AETR due to changes in the full-year forecast during the year, the revised AETR is used in place of the budgeted AETR beginning with the quarter the 200 basis point threshold is exceeded and going forward for all subsequent interim quarters in the year. We continue to assess the AETR based on latest forecast throughout the year and use the most recent AETR anytime it increases or decreases by 200 basis points or more from the prior interim period.

Adjusted EBITDA – We define adjusted EBITDA as net income (a) minus interest income, (b) plus interest expense, depreciation and amortization, restructuring, loss on sale of business, strategic initiative expenses, acquisition and integration related expenses, and (c) excluding income tax provision or benefit. Management uses adjusted EBITDA as a performance measure for executive compensation. A limitation to using adjusted EBITDA is that it does not represent the total increase or decrease in the cash balance for the period and the measure includes some non-cash items and excludes other non-cash items. Additionally, the items that we exclude in our calculation of adjusted EBITDA may differ from the items that our peer companies exclude when they report their results. We compensate for these limitations by providing a reconciliation of this measure to GAAP net income.

Free cash flow – We define free cash flow as net cash provided by operating activities less cash used for acquisitions of property, plant and equipment. We believe free cash flow provides investors with a relevant measure of liquidity and a useful basis for assessing our ability to fund our operations and repay our debt. The same limitations described above regarding our use of adjusted EBITDA apply to our use of free cash flow. We compensate for these limitations by providing specific information regarding the GAAP amounts in the reconciliation.

Adjusted gross profit – We define adjusted gross profit as gross profit excluding the amortization expense of core-developed technology intangible assets.

Adjusted operating income – We define adjusted operating income as operating income excluding the amortization of core-developed technology intangible assets.

Constant currency – We refer to the impact of foreign currency exchange rate fluctuations in our discussions of financial results, which references the differences between the foreign currency exchange rates used to translate operating results from the entity's functional currency into U.S. dollars for financial reporting purposes. We also use the term "constant currency", which represents financial results adjusted to exclude changes in foreign currency exchange rates as compared with the rates in the comparable prior year period. We calculate the constant currency change as the difference between the current period results and the comparable prior period's results restated using current period foreign currency exchange rates.

The tables below reconcile the non-GAAP financial measures of operating expenses, operating income, net income, diluted EPS, adjusted EBITDA, and free cash flow with the most directly comparable GAAP financial measures.

ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands, except per share data)  TOTAL COMPANY RECONCILIATIONSThree Months Ended March 31,     2026  2025  NON-GAAP OPERATING EXPENSES    GAAP operating expenses$168,742 $141,006    Amortization of intangible assets (1) (8,172) (4,479)   Restructuring (214) 553    Loss on sale of business —  (79)   Strategic initiative (20) —    Acquisition and integration (5,977) (51)  Non-GAAP operating expenses$154,359 $136,950        NON-GAAP OPERATING INCOME    GAAP operating income$67,577 $76,213    Amortization of intangible assets 10,667  4,479    Restructuring 214  (553)   Loss on sale of business —  79    Strategic initiative 20  —    Acquisition and integration 5,977  51   Non-GAAP operating income$84,455 $80,269        NON-GAAP NET INCOME & DILUTED EPS    GAAP net income attributable to Itron, Inc.$53,459 $65,474    Amortization of intangible assets 10,667  4,479    Amortization of debt placement fees 1,830  1,737    Restructuring 214  (553)   Loss on sale of business —  79    Strategic initiative 20  —    Acquisition and integration 5,977  51    Income tax effect of non-GAAP adjustments (4,475) (1,157)  Non-GAAP net income attributable to Itron, Inc.$67,692 $70,110         Non-GAAP diluted EPS$1.49 $1.52         Non-GAAP weighted average common shares outstanding - Diluted 45,470  46,172       (1)   Excludes amortization of core-developed technology intangible assets.  ITRON, INC.RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURESTO THE MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(Unaudited, in thousands)  TOTAL COMPANY RECONCILIATIONSThree Months Ended March 31,     2026  2025  ADJUSTED EBITDA    GAAP net income attributable to Itron, Inc.$53,459 $65,474    Interest income (5,660) (11,710)   Interest expense 5,809  5,593    Income tax provision 13,609  16,929    Depreciation and amortization 18,536  12,068    Restructuring 214  (553)   Loss on sale of business —  79    Strategic initiative 20  —    Acquisition and integration 5,977  51   Adjusted EBITDA$91,964 $87,931        FREE CASH FLOW    Net cash provided by operating activities$85,501 $72,117    Acquisitions of property, plant, and equipment (6,527) (4,639)  Free Cash Flow$78,974 $67,478                    The tables below reconcile the non-GAAP financial measure of adjusted gross profit with the most directly comparable GAAP financial measure.

TOTAL COMPANY RECONCILIATIONS Three Months Ended March 31, 2026(Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Resiliency
Solutions Segments
SubtotalTotal revenues $124,377  $350,663  $95,910  $16,032  $586,982 Total cost of revenues  80,358   207,590   56,511   6,204   350,663 Gross profit  44,019   143,073   39,399   9,828   236,319 Gross margin  35.4%  40.8%  41.1%  61.3%  40.3%Amortization of core-developed technology intangible assets $—  $—  $625  $1,870  $2,495 Adjusted gross profit  44,019   143,073   40,024   11,698   238,814 Adjusted gross margin  35.4%  40.8%  41.7%  73.0%  40.7%             Three Months Ended March 31, 2025  (Unaudited, in thousands) Device
Solutions Networked
Solutions Outcomes Segments
Subtotal  Total revenues $125,871  $402,732  $78,548  $607,151   Total cost of revenues  88,118   254,018   47,796   389,932   Gross profit  37,753   148,714   30,752   217,219   Gross margin  30.0%  36.9%  39.2%  35.8%  Amortization of core-developed technology intangible assets $—  $—  $—  $—   Adjusted gross profit  37,753   148,714   30,752   217,219   Adjusted gross margin  30.0%  36.9%  39.2%  35.8%  

For the quarter ended March 2026, Itron (ITRI - Free Report) reported revenue of $586.98 million, down 3.3% over the same period last year. EPS came in at $1.49, compared to $1.52 in the year-ago quarter.

The reported revenue represents a surprise of +2.81% over the Zacks Consensus Estimate of $570.97 million. With the consensus EPS estimate being $1.26, the EPS surprise was +18.73%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Itron performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue- Outcomes: $95.91 million compared to the $92.09 million average estimate based on four analysts. The reported number represents a change of +22.1% year over year.Revenue- Device Solutions: $124.38 million versus the four-analyst average estimate of $115.06 million. The reported number represents a year-over-year change of -1.2%.Revenue- Networked Solutions: $350.66 million versus $352.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -12.9% change.Revenue- Product revenues- Device Solutions: $123.73 million versus $116.07 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.3% change.Revenue- Service revenues- Networked Solutions: $29.52 million compared to the $28.8 million average estimate based on three analysts. The reported number represents a change of +4.6% year over year.Revenue- Product revenues- Networked Solutions: $321.15 million versus $321.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -14.3% change.Revenue- Product revenues: $477.8 million versus $470.8 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -8.7% change.Revenue- Service revenues: $109.18 million compared to the $107.36 million average estimate based on two analysts. The reported number represents a change of +30% year over year.Revenue- Service revenues- Outcomes: $64.04 million versus the two-analyst average estimate of $65.64 million. The reported number represents a year-over-year change of +15.8%.Revenue- Service revenues- Device Solutions: $0.65 million compared to the $0.46 million average estimate based on two analysts. The reported number represents a change of +34.1% year over year.Revenue- Resiliency Solutions: $16.03 million versus the two-analyst average estimate of $13.5 million.Revenue- Product revenues- Outcomes: $31.87 million versus the two-analyst average estimate of $26.59 million. The reported number represents a year-over-year change of +37.2%.View all Key Company Metrics for Itron here>>>

Shares of Itron have returned +3.6% over the past month versus the Zacks S&P 500 composite's +12.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Itron (ITRI +0.36%) stock managed to narrowly close out Tuesday's trading in the green despite big sell-offs early in the session. The company's share price ended the day's trading up 0.1% but had been off as much as 9.7% early in the day. Meanwhile, the S&P 500 ended the day down 0.5%, and the Nasdaq Composite closed out the session down 0.9%.

Itron posted its first-quarter results before the market opened today, and investors initially had a harshly negative reaction to the company's quarterly print and forward guidance. Despite the initial bearish response to the report, the company's share price saw strong recovery as the day progressed.

Image source: Getty Images.

Itron actually topped Wall Street's expectations for Q1 Itron recorded non-GAAP (adjusted) earnings per share of $1.49 in the first quarter, beating the average Wall Street analyst estimate by $0.25 per share. Meanwhile, sales came in at roughly $587 million -- beating the average analyst target by roughly $14.9 million. While sales came in roughly 3% lower compared to last year's quarter, the performance still beat analyst's expectations. While networked solutions ales fell roughly 13% year over year, outcomes revenues were up 22% compared to the prior-year period and helped mitigate the overall sales drop off in the period.

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What should investors make of Itron's guidance? Itron is guiding for sales to come in between $560 million and $570 million this quarter -- a level that fell significantly short of the average analyst estimate's call for sales of $607 million heading into the company's latest business update. Meanwhile, adjusted earnings per share are projected to be between $1.25 and $1.35 -- a target range that also fell short of Wall Street's call for per-share earnings of $1.46 in the period. While shares rebounded after their initial sell-offs today, the company's softer-than-expected forward guidance suggests that the stock could continue to face valuation pressures in the near term.

Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Itron. The Motley Fool has a disclosure policy.

Itron faces muted sales growth, soft bookings, and a questionable acquisition-driven strategy, leading to a cautious stance despite management's upbeat narrative. First-quarter sales declined 3% to $587 million, with margins under pressure and bookings translating to a weak 0.81x book-to-bill ratio. Recent $850 million acquisitions contribute minimally to revenue, raising concerns about deal multiples and future earnings dilution.

LIBERTY LAKE, Wash., May 26, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), the intelligent infrastructure provider for modern energy and water management, is expanding its collaboration with Hunter Water, the water utility serving the Lower Hunter region of New South Wales, Australia, to support the utility’s digital water journey as part of its Digital Metering Pilot Program. Hunter Water aims to use data to improve water network management and reduce non-revenue water while enabling customers to better understand their usage and conserve water. As part of the pilot program, Hunter Water is deploying a variety of meters including Itron Intelis wSource NB-IoT ultrasonic water meters that will be managed through Temetra, Itron’s cloud‑based, multi‑vendor, multi‑commodity meter data management solution, which is already in use by the utility.

Hunter Water’s Digital Metering Pilot Program is focused on building a more data‑driven and resilient water network. With Itron’s technology, the utility aims to advance program objectives and detect leaks sooner, reduce water loss, improve operations and empower customers with better insight into their water use.

The pilot program will include 2,000 Itron Intelis wSource NB-IoT ultrasonic water meters, which the utility will begin deploying in Q3 2026, helping Hunter Water better understand how digital meters can support future water services. The Itron technology will provide near real-time visibility of customers’ water consumption, enabling faster leak detection and quicker response to reduce water loss.

Hunter Water will use Itron’s Temetra meter data management solution to manage data from both the new Itron digital meters and its existing mechanical meters—all within a single system, supporting Hunter Water’s digital water journey. This centralised system enables Hunter Water to unlock greater value from its metering data and support ongoing operational improvements and more informed decision making as water resources become increasingly constrained.

Over the past nine years, Hunter Water has achieved a 33 percent reduction in water leaks across its water network through a range of solutions implemented under its water loss reduction program. The addition of digital meters and other water loss reduction projects across its service territory keeps the utility positioned to continue building on this progress. Itron’s digital meters combined with its communication modules will support Hunter Water in meeting its water conservation and reliable operational aspirations.

“At Hunter Water, we are committed to embracing innovative solutions that support our community and help us reduce water losses across our network,” said Matt Hingston, Executive Manager, Customer Services. “Digital water meters provide more timely and detailed insight into water consumption, which helps us identify potential leaks sooner and respond more effectively. Just as importantly, this data helps Hunter Water to tailor our approach to directly engaging with customers about their water use and to encourage them to make more informed decisions about conservation.”

“With decades of history working together, Itron and Hunter Water have delivered projects that reflect evolving operational goals and changing environmental conditions,” said Justin Patrick, senior vice president of Device Solutions at Itron. “As an existing Temetra customer for more than five years, deploying Itron digital water meters represents the next step in Hunter Water’s digital water journey. Temetra gives Hunter Water the flexibility to adopt and deploy new technologies at its own pace, supporting both current needs and future innovation. We look forward to continuing our work together and helping the utility achieve its long term operational and water management goals.”

About Itron

Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron®, the Itron Logo, Intelis, and Temetra are registered trademarks of Itron, Inc in the United States and/or other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]

Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]

Itron, Inc.

LinkedIn: www.linkedin.com/company/itronincX: www.x.com/itronincNewsroom: https://itron.com/newsroomBlog: https://itron.com/blog

A month has gone by since the last earnings report for Itron (ITRI - Free Report) . Shares have added about 3.2% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Itron due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Itron, Inc. before we dive into how investors and analysts have reacted as of late.

Itron’s Q1 Earnings Top EstimatesItron reported non-GAAP earnings per share (EPS) of $1.49 for first-quarter 2026, which beat the Zacks Consensus Estimate by 18.3%. The company reported earnings of $1.52 per share in the prior-year quarter. The year-over-year decline was due to lower interest income, partially offset by higher operating income.

Itron reported quarterly revenues of $587 million, which declined 3% year over year but exceeded the upper end of guidance ($565-$575 million). The top line surpassed the Zacks Consensus Estimate by 2.8%. The revenue decline was largely due to portfolio optimization efforts and the timing of project deployments.

Management stated that first-quarter results exceeded expectations, driven by strong execution and some projects progressing ahead of schedule, which led to a record gross profit. The company highlighted that utility customers remain focused on resiliency and affordability, with a structural, multi-year investment trend toward adding intelligence to the grid, an area well aligned with Itron’s strengths in networks, analytics and operational intelligence.

Product revenues were $477.8 million (81.4% of total revenues), down 8.7% year over year. Service revenues totaled $109.2 million (18.6%), up 30%.

Itron’s bookings were $476 million in the first quarter of 2026, and its backlog amounted to $4.4 billion at the end of the quarter. The first quarter included several key wins, including progress on a strategic grid visibility program with Duquesne Light Company. The engagement underscores rising demand for distributed intelligence and Grid Edge Computing as utilities modernize networks, while highlighting Itron’s ability to deliver an integrated solution combining smart devices, software and communications for next-generation grid operations.

Segments in DetailDevice Solutions (21.2% of total revenues): Revenues fell 1% (9% in constant currency or cc) to $124.4 million primarily due to lower sales of legacy EMEA electricity products and reduced project deployments in North America.

Networked Solutions (59.7%): Revenues dipped 13% (14% in cc) to $350.7 million, primarily due to the timing of project deployments.

Outcomes (16.4%): Revenues rose 22% (or 20% in cc) to $95.9 million, driven by growth in recurring and services revenue.

Resiliency Solutions (2.7%): The company reported revenues of $16 million. Starting with the first-quarter 2026 report, the combined results of Locusview and Urbint will be included in this segment.

Operating DetailsItron’s gross margin for the quarter rose significantly to 40.7%, a 490-basis point (bp) improvement year over year. This increase was attributed to a favorable mix and improved operational efficiencies.

Non-GAAP operating expenses were $154.4 million, up $17 million from the prior year, primarily due to higher sales and increased general and administrative expenses driven by the additions of Urbint and Locusview.

Non-GAAP operating income was $84.5 million compared with $80.3 million in the year-ago quarter. The upside was driven by higher gross profit. Non-GAAP operating margins expanded 120 bps to 14.4%.

Adjusted EBITDA jumped 4.7% year over year to $92 million. Adjusted EBITDA margins gained 120 bps to 15.7%.

Balance Sheet & Cash FlowsAs of March 31, 2026, cash and cash equivalents totaled $712.9 million compared with $1.1 billion as of Dec. 31, 2025. The company’s cash balance declined by about $300 million from year-end 2025, primarily due to the January acquisition of Locusview, the February issuance of $805 million in zero-interest convertible senior notes, the March repayment of $460 million in 2021 convertible notes, a $100 million share repurchase and $79 million in free cash flow generated during the first quarter.

As of March 31, 2026, net long-term debt was $1.6 billion compared with $788.8 million as of Dec. 31, 2025.

Itron generated $85.5 million of cash from operations in the reported quarter compared with $72.1 million in the prior-year quarter.

In the first quarter, the free cash flow reached $79 million, up from $67 million in the previous year's quarter. Free cash flow increased mainly due to a reduction in tax payments.

Financial GuidanceFor the second quarter, the company expects revenue to range from $560 million to $570 million, with the midpoint implying a 7% year-over-year decline. The anticipated fall reflects a pull-forward of first-half projects into the first quarter, while the broader first-half 2026 outlook remains consistent with the company’s previous guidance in February.

Non-GAAP EPS is projected between $1.25 and $1.35, with the midpoint suggesting an approximately 8% decline year over year after adjusting for tax rate and interest income.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.

The consensus estimate has shifted -8.19% due to these changes.

VGM ScoresAt this time, Itron has a nice Growth Score of B, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a grade of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Itron has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Itron’s portfolio supported utility decarbonization through demand response, distributed intelligence, consumer engagement and more efficient energy and water operations.Itron's solutions enabled customers to avoid at least 8.7 million metric tons of greenhouse gas (GHG) emissions or more than 690 times the carbon that Itron’s own operations produced.Operational emissions declined 11% year over year, contributing to a roughly 56% cumulative reduction from Itron’s 2019 baseline. LIBERTY LAKE, Wash., June 03, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), the intelligent infrastructure provider for modern energy and water management, has released its 2025 Corporate Sustainability Report. The report highlights Itron’s progress across customer impact, operational emissions reductions, governance, workplace safety and community engagement.

“At Itron, sustainability is core to who we are and how we create a more resourceful world,” said Tom Deitrich, president and CEO of Itron. “In 2025, we continued to perform as promised, advancing our climate goals, strengthening our safety and governance programs, and helping customers reduce emissions through our solutions. As utilities face growing pressure from aging infrastructure, extreme weather, resource scarcity and affordability concerns, our work remains focused on helping them operate more efficiently, reliably and sustainably.”

Key areas of progress highlighted in the 2025 Corporate Sustainability Report include:

Advancing Carbon Reduction Goals: Operational emissions continued to decline, with an 11% year-over-year reduction in Scope 1 and Scope 2 emissions and a roughly 56% cumulative reduction from Itron’s 2019 baseline, while the company maintained its commitment to carbon neutrality by 2035 and net-zero emissions by 2050.Helping Utilities Reduce Environmental Impact: In 2025, Itron’s solutions enabled customers to avoid at least 8.7 million metric tons of greenhouse gas (GHG) emissions or more than 690 times the carbon that Itron’s own operations produced. Itron’s solutions support utility decarbonization through improved operational efficiency, demand response, distributed intelligence, increased consumer engagement and smarter energy and water management.Operating with Trust and Accountability: Itron strengthened its governance and ethics programs, earning recognition as one of the World’s Most Ethical Companies by Ethisphere, introducing a formal Anti-Money Laundering Policy and achieving 100% completion of its companywide Code of Conduct training.Supporting People and Communities: Workplace safety and community impact advanced through ISO 45001 certification at Itron’s Mâcon, France facility, multi-year zero-recordable-incident milestones at several manufacturing sites and more than $500,000 in contributions from Itron and employees to over 440 organizations globally. Together, these efforts reflect Itron’s approach to sustainability by reducing the company’s own environmental footprint while helping utilities and cities build more efficient, resilient and sustainable infrastructure.

The full 2025 Corporate Sustainability Report is available for download at www.itron.com/esg.

About Itron
Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron® and the Itron logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

Additional Resources:

LinkedIn: https://www.linkedin.com/company/itroninc/X: https://twitter.com/ItronIncNewsroom: https://na.itron.com/newsroomBlog: https://blogs.itron.com/ Media Contact:
Alison Mallahan
Senior Manager, Corporate Communications
(509) 891-3802
[email protected]

Investor Contact:
Paul Vincent
Vice President, Investor Relations
(512) 560-1172
[email protected]