Revenue Performance - Total first quarter revenue increased by 1% to $607 million, including a catch-up of previously constrained revenue from Q1 2024[3] - Device Solutions revenue decreased by 1%, while Networked Solutions revenue also decreased by 1% due to timing of shipments and project deployments[4] - Outcomes revenue increased by 14%, driven by higher recurring revenue and software licenses[4] Profitability Metrics - Gross margin improved to 35.8%, an increase of 180 basis points from the prior year, attributed to product mix and operational efficiencies[5] - GAAP operating income rose to $76 million, a $13 million increase from the prior year, due to higher gross profit and lower operating expenses[6] - Net income attributable to Itron, Inc. was $65 million, or $1.42 per diluted share, reflecting a $14 million increase compared to the previous year[7] - Non-GAAP operating income rose to $80,269 in Q1 2025, up from $67,325 in Q1 2024, reflecting a growth of 19.3%[42] - GAAP net income attributable to Itron, Inc. increased to $65,474 from $51,721, representing a growth of 26.5%[44] - Adjusted EBITDA rose to $87,931, up from $76,480, reflecting an increase of 15.5%[44] Cash Flow and Liquidity - Free cash flow increased to $67 million, up $33 million from the prior year, primarily due to higher earnings and interest income[10] - Net cash provided by operating activities was $72,117 in Q1 2025, up from $41,308 in Q1 2024, indicating a growth of 74.7%[29] - Free Cash Flow improved significantly to $67,478 compared to $34,163, marking an increase of 97.5%[44] - Cash and cash equivalents at the end of Q1 2025 were $1,123,267, significantly up from $300,606 at the end of Q1 2024[29] Balance Sheet Highlights - Total assets increased to $3,503,142 in Q1 2025, compared to $3,407,623 in Q1 2024, marking a growth of 2.8%[26] - Total liabilities decreased slightly to $1,994,063 in Q1 2025 from $1,996,195 in Q1 2024[26] - The total equity of Itron, Inc. increased to $1,509,079 in Q1 2025 from $1,411,428 in Q1 2024, showing a growth of 6.9%[26] Future Outlook - The outlook for Q2 2025 includes expected revenue between $605 million and $615 million, and non-GAAP diluted EPS between $1.30 and $1.40[15] Operational Changes - Interest income decreased to $(11,710) from $(3,846), showing a decline of 204.5%[44] - Interest expense increased to $5,593 from $1,893, which is an increase of 195.5%[44] - Income tax provision rose to $16,929 from $13,429, reflecting an increase of 25.5%[44] - Depreciation and amortization slightly decreased to $12,068 from $12,744, a decline of 5.3%[44] - Restructuring costs changed from $198 to $(553), indicating a shift in strategy[44] - Acquisition and integration costs decreased to $51 from $318, showing a reduction of 83.9%[44] Customer Demand and Market Position - Itron's leadership in grid edge intelligence solutions continues to drive customer demand for new technologies[2] Backlog and Bookings - Total backlog at the end of the quarter was $4.7 billion, compared to $4.3 billion in the prior year, with bookings totaling $530 million[11] Quarterly Comparison - Net income for Q1 2025 was $65,350, an increase of 26.2% compared to $51,787 in Q1 2024[28] - Non-GAAP diluted EPS increased to $1.52 in Q1 2025, compared to $1.24 in Q1 2024, representing a growth of 22.6%[42] - Non-GAAP operating expenses decreased to $136,950 in Q1 2025 from $138,054 in Q1 2024, a reduction of 0.8%[42] - The company reported an increase in unearned revenue to $187,812 in Q1 2025, compared to $150,720 in Q1 2024, reflecting a growth of 24.6%[26]

Core Insights - Itron, Inc. reported financial results for Q1 2025, showing margin expansion and earnings growth ahead of expectations due to a favorable product mix and strong execution [1][2][4] Revenue Performance - Total revenue for Q1 2025 increased by 1% to $607 million, including a catch-up of previously constrained revenue from Q1 2024 [2] - Device Solutions revenue decreased by 1%, but increased by 2% in constant currency, driven by higher smart water sales offset by lower legacy electricity sales [2] - Networked Solutions revenue also decreased by 1% due to shipment timing and project deployment delays [3] - Outcomes revenue increased by 14%, attributed to higher recurring revenue and software licenses [3] Profitability Metrics - Gross margin for Q1 2025 was 35.8%, an increase of 180 basis points from the previous year, due to product mix and operational efficiencies [4] - GAAP operating income rose to $76 million, a $13 million increase from the prior year, while non-GAAP operating income also increased by $13 million to $80 million [5] Net Income and Earnings Per Share - Net income attributable to Itron, Inc. for the quarter was $65 million, or $1.42 per diluted share, compared to $52 million, or $1.12 per diluted share in 2024 [6] - Non-GAAP net income was $70 million, or $1.52 per diluted share, up from $57 million, or $1.24 per diluted share in the previous year [7] Cash Flow and Backlog - Net cash provided by operating activities was $72 million, compared to $41 million in the prior year, while free cash flow increased to $67 million from $34 million [8][9] - Total backlog at the end of the quarter was $4.7 billion, up from $4.3 billion in the prior year, with bookings totaling $530 million [10]

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

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Itron (ITRI) .Itron currently has an average brokerage recommendation (ABR) of 1.46, on a scale ...

Group 1 - The article discusses the integration of AI into products and services within the information technology sector, highlighting its impact on company performance [1] - Henriot Capital operates on a principle of simplicity and common sense, focusing on a quant-driven investment model that minimizes human bias in stock selection [1] - The investment strategy of Henriot Capital emphasizes a "invest first, investigate later" approach, where decisions are based on model recommendations followed by further research [1]

Company Performance - Itron's stock closed at $102.08, reflecting a +0.69% change from the previous trading day's closing, outperforming the S&P 500 which saw a loss of 0.17% [1] - Over the past month, Itron's shares have decreased by 4.85%, which is less than the Computer and Technology sector's loss of 6.26% and the S&P 500's loss of 3.94% [2] Upcoming Earnings - Itron is set to release its earnings report on May 1, 2025, with an expected EPS of $1.30, indicating a 4.84% increase from the same quarter last year [3] - The revenue forecast for the upcoming quarter is $614.27 million, representing a 1.8% increase compared to the previous year [3] Full-Year Estimates - The full-year Zacks Consensus Estimates predict earnings of $5.40 per share and revenue of $2.46 billion, reflecting year-over-year changes of -3.91% and +0.61%, respectively [4] - Recent adjustments to analyst estimates for Itron may indicate shifting business dynamics, with positive revisions suggesting a favorable business outlook [4] Valuation Metrics - Itron currently has a Forward P/E ratio of 18.77, which is lower than the industry average of 20.71 [6] - The company has a PEG ratio of 0.65, compared to the Electronics - Testing Equipment industry's average PEG ratio of 2.18 [7] Industry Context - The Electronics - Testing Equipment industry is part of the Computer and Technology sector and holds a Zacks Industry Rank of 85, placing it in the top 35% of over 250 industries [8] - Research indicates that top-rated industries outperform lower-rated ones by a factor of 2 to 1 [8]

LIBERTY LAKE, Wash., April 10, 2025 (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 Mar. 31, 2025 before market opens on Thursday, May 1, 2025. The company’s press release and financial statements will be available on the company’s website at https://investors.itron.com on May 1, 2025 at 8:30 a.m. EDT followed by the management conference call at 10 a ...

Core Insights - Itron, Inc. is collaborating with Norgesnett to implement the first edge computing deployment in the Nordic region, utilizing Itron's Grid Edge Intelligence portfolio to modernize the electricity grid [1][2] Group 1: Partnership and Deployment - The partnership aims to enhance visibility and control across the distribution system, supporting Norgesnett's Advanced Metering Infrastructure (AMI) strategy [2] - The initiative will commence in early 2026 with the deployment of 10,000 distributed intelligence (DI)-enabled smart endpoints [4] - The collaboration will provide Norgesnett access to Itron's broader ecosystem, enabling tailored applications for grid modernization [4] Group 2: Technological Advancements - The DI-enabled endpoints will facilitate two-way communication, allowing for remote updates and real-time energy data management [5] - The project aligns with Nordic Innovation's 2030 vision for sustainability and interconnectedness, enabling real-time data analysis to prevent outages and transformer overloads [6] Group 3: Market Context and Growth Drivers - Norway's energy sector is nearly 100% renewable, with electric vehicles (EVs) constituting 96% of new car registrations as of January 2025, positioning the country as a leader in clean energy adoption [3] - Itron's Grid Edge Intelligence platform is experiencing growth due to factors such as data center demand, reindustrialization, and the electrification of transportation and homes [7] - The total backlog for Itron at the end of the fourth quarter was $4.7 billion, indicating strong market demand for grid resiliency and automation solutions [7] Group 4: Financial Performance - Itron's 2024 bookings reached $2.7 billion, resulting in a book-to-bill ratio of 1:11, with a significant portion of the backlog consisting of grid-edge intelligence platform content [8] - The company anticipates 2025 revenues to be between $2.4 billion and $2.5 billion, reflecting a flat year-over-year growth at the midpoint [8]

Core Insights - Itron, Inc. is collaborating with Norwegian utility Norgesnett to implement the first edge computing deployment in the Nordics using Itron's Grid Edge Intelligence portfolio, which includes distributed intelligence-enabled smart meters [1][4] - The project aims to modernize Norgesnett's grid infrastructure, enhancing visibility and control at the grid edge, and supporting the integration of distributed energy resources [2][3] Group 1: Project Overview - Norgesnett will deploy 10,000 Itron DI-enabled smart endpoints in the first phase starting in the first half of 2026, which will provide access to a range of applications to address challenges from increased distributed energy resources [4][5] - The deployment aligns with the Nordic Innovation vision for the region to become the most sustainable and integrated by 2030, focusing on real-time data insights to manage energy loads effectively [6] Group 2: Benefits and Features - The DI-enabled solution allows for flexible two-way communication, enabling remote updates and applications installation, as well as real-time energy usage data sharing with consumers [5][8] - The project is expected to improve operational efficiency, enhance customer engagement, and provide better outage detection and grid management capabilities [8] Group 3: Company Positioning - Norgesnett is recognized as Norway's most efficient power grid company, committed to minimizing energy loss and delivering reliable electricity while addressing the evolving challenges of the power grid [3][7] - Itron's advanced analytics on electricity usage will further enhance the service provided by Norgesnett, contributing to a more sustainable energy landscape [7][8]

Core Viewpoint - Itron Inc (ITRI) has demonstrated resilience in a volatile market, achieving a 16.3% gain over the past year, driven by strong demand for its solutions related to grid resiliency, capacity, safety, and automation [1][6]. Performance Summary - ITRI has outperformed the Electronic Test Equipment industry's decline of 8.5%, as well as the Zacks Computer and Technology sector and the S&P 500 composite's growth of 3.8% and 8.2%, respectively [2]. - The stock closed at $104.76, which is 16% lower than its 52-week high of $124.90, raising questions about potential buying opportunities [5]. Demand and Growth Drivers - Steady market demand and strong operational performance are key growth drivers for Itron [6]. - The Grid Edge Intelligence platform is experiencing momentum, fueled by data center demand, reindustrialization, electrification of transportation and homes, and automation of water infrastructure [7]. - Itron's total backlog at the end of Q4 2024 was $4.7 billion, with 2024 bookings of $2.7 billion, resulting in a book-to-bill ratio of 1:11 [8]. Revenue Guidance - Itron anticipates 2025 revenues to be between $2.4 billion and $2.5 billion, projecting total revenues of $2,445.1 million for 2025, which is flat year-over-year at the midpoint [9]. Estimate Revisions - Analysts show bullish sentiment towards ITRI, as indicated by solid estimate revision activity, with significant increases in consensus estimates over the past 60 days [10]. Product Launches - Frequent product launches, such as IntelliFLEX and CityEdge, position Itron to capture market share by addressing changing market demands [11][12]. Operational Efficiency - Itron's gross margin improved to 34.9%, expanding by 90 basis points year-over-year due to enhanced operational efficiencies [13]. Valuation - ITRI presents an attractive investment opportunity with a forward 12-month price-to-earnings ratio of 18.82X, slightly below the industry average of 21.48X [14]. Investment Outlook - Increasing business pipeline activities and favorable macro trends, combined with a discounted valuation and robust estimate revisions, make ITRI an appealing investment opportunity [17].