Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks ...

Core Viewpoint - Itron's shares have shown strong performance with a year-to-date gain of 33.1%, significantly outperforming the S&P 500 and its sub-industry, indicating potential for further upside as the stock is down 16.4% from its 52-week high [1][2] Company Overview - Itron, headquartered in Liberty Lake, WA, is a leading global supplier of various types of meters and communication systems for managing electricity, gas, and water resources [2] - The company has a Zacks Rank 2 (Buy) and a Growth Score of B, suggesting it is a solid investment option [3] Financial Performance - In Q2 2024, Itron reported revenues of $609 million, exceeding the Zacks Consensus Estimate of $600 million, with a year-over-year growth of 13% [4] - The company's bookings were $447 million, and its backlog reached $4.1 billion at the end of the reported quarter [4] Revenue Breakdown - Networked Solutions generated revenues of $412.7 million (67.8% of total), up 14% year-over-year, while Outcomes' revenues were $77.8 million (12.8%), increasing 16% year-over-year [5] Growth Drivers - The Grid Edge Intelligence platform is experiencing momentum due to factors like data center demand, reindustrialization, and electrification trends [6] - The acquisition of Elpis Squared has expanded the platform's solutions, presenting strong opportunities for Itron [7] Future Outlook - Itron anticipates a book-to-bill ratio of at least 1:1 for 2024 and expects Q3 2024 revenues between $590 million and $600 million [8] - The company has revised its full-year revenue outlook for 2024 to between $2.385 billion and $2.415 billion, up from previous guidance [9] Earnings Estimates - The Zacks Consensus Estimate for Itron's 2024 and 2025 revenues is $2.41 billion and $2.5 billion, indicating growth of 10.8% and 3.8% respectively [10] - EPS estimates for 2024 and 2025 are expected to rise 33.3% and 3.6% from prior-year actuals [10] Long-term Growth - Itron's long-term earnings growth rate is projected at 26% [11] Challenges - Rising operating expenses and competition in a soft macroeconomic environment are concerns, with non-GAAP operating expenses increasing by 6.6% year-over-year in Q2 2024 [12] - The company has a leveraged balance sheet, with cash and cash equivalents of $920.6 million and long-term debt of $1.24 billion as of June 30, 2024 [13]

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy with the hel ...

Have you been paying attention to shares of Itron (ITRI) ? Shares have been on the move with the stock up 8.7% over the past month. The stock hit a new 52-week high of $113.07 in the previous session. Itron has gained 43.2% since the start of the year compared to the 18.2% move for the Zacks Computer and Technology sector and the 1.4% return for the Zacks Electronics - Testing Equipment industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't mis ...

Itron (ITRI) reported $609.07 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 12.6%. EPS of $1.21 for the same period compares to $0.65 a year ago. The reported revenue represents a surprise of +1.53% over the Zacks Consensus Estimate of $599.9 million. With the consensus EPS estimate being $0.96, the EPS surprise was +26.04%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Itron (ITRI) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 26.04%. A quarter ago, it was expected that this energy and water meter company would post earnings of $0.85 per share when it actually produced earnings of $1.24, delivering a surprise of 45.88%. Over the last four quarters ...

Core Insights - Itron, Inc. reported strong financial results for Q2 2024, with revenue of $609 million, a 13% increase compared to Q2 2023, driven by operational execution and revenue conversion [1][2] - The company achieved a gross profit of $210 million, reflecting a 21% increase year-over-year, and a gross margin of 34.6%, up 250 basis points from the previous year [1][3] - Net income attributable to Itron, Inc. was $51 million, or $1.10 per diluted share, compared to $24 million, or $0.53 per diluted share in the same quarter last year [5][6] Financial Performance - Total revenue for Q2 2024 was $609 million, up 13% from $541 million in Q2 2023, attributed to strong operational execution and the conversion of previously constrained revenue [2][3] - Device Solutions revenue increased by 5%, or 6% in constant currency, primarily due to growth in smart water sales [3] - Networked Solutions revenue rose by 14%, driven by ongoing and new project deployments [3] - Outcomes revenue grew by 16%, mainly due to an increase in recurring revenue and services [3] Profitability Metrics - Gross profit for the quarter was $210 million, with a gross margin of 34.6%, an increase of 250 basis points from the prior year [1][3] - GAAP operating income was $65 million, a $30 million increase from the previous year, while non-GAAP operating income was $69 million, up $28 million [4] - Adjusted EBITDA reached $77 million, reflecting a 56% increase year-over-year [1] Cash Flow and Backlog - Free cash flow for Q2 2024 was $45 million, an increase of $9 million from $36 million in Q2 2023 [1][7] - Net cash provided by operating activities was $52 million, compared to $42 million in the prior year [7] - Total backlog at the end of the quarter was $4.1 billion, down from $4.4 billion in the prior year, with bookings totaling $447 million [8] Outlook - For Q3 2024, Itron expects revenue between $590 million and $600 million and non-GAAP diluted EPS between $1.10 and $1.20 [9] - The full-year 2024 revenue guidance has been updated to between $2.385 billion and $2.415 billion, an increase from the previous guidance of $2.275 billion to $2.375 billion [9]

The market expects Itron (ITRI) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these key numbers are better ...

After reaching an important support level, Itron (ITRI) could be a good stock pick from a technical perspective. ITRI surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend. ITRI has rallied 9.9% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests ITRI could be on the verge of another move higher. With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their ey ...

| --- | --- | |-------------------------------------------------------|-------| | | | | Alison Mallahan | | | Senior Manager, Corporate Communications 509-891-3802 | | | PR@Itron.com | | | Paul Vincent | | | Vice President, Investor Relations | | | 512-560-1172 | | | Investors@itron.com | | | | | "Our customers continue to pioneer new solutions, leveraging the innovations made possible with our partner enablement program. To showcase what's possible and to recognize our customers' abilities to solve challen ...