Itron Exceeds Q1 EPS Expectations, Reports Strong Adjusted EBITDA and Free Cash Flow
ITRI is trading near its 52-week low of $83.51 (1.3% above the low) on elevated volume (1.9× avg).
Summary
Itron, Inc. announced strong first-quarter results, beating non-GAAP diluted EPS estimates and showing significant improvements in adjusted gross margin, Adjusted EBITDA, and free cash flow, while also providing Q2 guidance.
Key Events · Earnings and Guidance · ITRI
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Q1 Earnings Beat Expectations
Non-GAAP diluted EPS of $1.49 significantly exceeded analyst expectations, despite a slight decrease from $1.52 in the prior year.
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Strong Profitability Gains
Adjusted gross margin increased by 490 basis points to 40.7%, and Adjusted EBITDA rose 5% to $92 million, indicating strong operational execution.
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Improved Free Cash Flow
Free cash flow increased by $11 million to $79 million, primarily due to lower tax payments, enhancing liquidity.
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Q2 2026 Outlook Provided
The company forecasts Q2 2026 revenue between $560 million and $570 million, with non-GAAP diluted EPS expected to be between $1.25 and $1.35.
Analysis · ITRI · Industrial Applications And Services
Itron, Inc. reported first-quarter financial results that significantly surpassed analyst expectations for adjusted earnings per share, coming in at $1.49. This strong performance was driven by robust execution and projects running ahead of schedule, leading to a record gross profit and a 490 basis point increase in adjusted gross margin to 40.7%. The company also demonstrated improved financial health with a 5% increase in Adjusted EBITDA to $92 million and a notable rise in free cash flow to $79 million. Despite a slight revenue decrease, the operational efficiencies and profitability gains are a positive signal, especially as the stock is currently trading near its 52-week low. The provided Q2 2026 outlook offers forward visibility for investors.
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At the time of this filing, ITRI was trading at $84.61 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $83.51 to $142.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.