ITRI Itron, Inc.
Price Chart
Executive Summary
Itron reported Q1 2026 non-GAAP diluted EPS of $1.49, beating the $1.24 consensus by 20.2%, but total revenue of $587M declined 3% YoY and missed the $572.1M consensus. The beat was driven by record gross profit and strong execution, though revenue fell due to portfolio optimization and project timing. Guidance for Q2 2026 revenue of $560-570M and non-GAAP EPS of $1.25-1.35 implies a sequential decline, tempering the headline EPS beat.
Key Financial Metrics
Actionable Insight
The EPS beat is overshadowed by declining revenue and a soft Q2 guide. Watch for the earnings call commentary on Networked Solutions project timing and whether the revenue decline is transitory. The $100M buyback signals management confidence, but the backlog contraction warrants caution.
Key Facts
- Q1 2026 non-GAAP diluted EPS of $1.49 vs consensus $1.24 (20.2% beat)
- Q1 2026 revenue of $587M declined 3% YoY from $607M, vs consensus $572.1M
- GAAP diluted EPS of $1.18, down from $1.42 YoY
- Adjusted gross margin expanded 490 bps to 40.7%
- Networked Solutions revenue fell 13% YoY; Outcomes revenue grew 22% YoY
- Total backlog of $4.4B, down from $4.7B YoY
- Q2 2026 guidance: revenue $560-570M, non-GAAP diluted EPS $1.25-1.35
- Free cash flow of $79M, up from $67M YoY
- Company repurchased $100M of common stock in Q1
Financial Impact
Non-GAAP EPS beat consensus by $0.25 (20.2%); revenue missed consensus by ~$15M but beat the low end of guidance range
Risk Factors
- Revenue declined 3% YoY with Networked Solutions down 13%
- Q2 guidance implies further sequential revenue decline from Q1
- Backlog decreased to $4.4B from $4.7B YoY
- GAAP operating income fell $9M YoY due to higher expenses
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3282646 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 4, 2026
5d ago
|
Insider Cluster
| $81.05 $80.07 | ▼ −1.21% | ▲ +1.39% | $82.34 (+1.59%) |
|
Jun 2, 2026
7d ago
|
Press Release
| $83.94 $82.12 | ▼ −2.17% | ▼ −1.47% | $82.34 (−1.91%) |
|
May 28, 2026
12d ago
|
Insider Cluster
| $83.59 $82.48 | ▼ −1.33% | ▼ −1.57% | $82.34 (−1.50%) |
|
May 27, 2026
13d ago
|
Insider Cluster
| $83.59 $82.48 | ▼ −1.33% | ▼ −1.57% | $82.34 (−1.50%) |
|
May 26, 2026
14d ago
|
144
| $84.44 $85.30 | ▲ +1.02% | ▲ +1.01% | $82.34 (−2.49%) |
|
May 26, 2026
14d ago
|
Press Release
| $84.44 $85.30 | ▲ +1.02% | ▲ +1.01% | $82.34 (−2.49%) |
|
May 22, 2026
18d ago
|
Insider Cluster
| $83.02 $84.44 | ▲ +1.71% | ▲ +1.12% | $82.34 (−0.82%) |
|
May 21, 2026
19d ago
|
Insider Cluster
| $81.85 $83.02 | ▲ +1.43% | ▲ +0.98% | $82.34 (+0.60%) |
|
Apr 28, 2026
6w ago
|
Press Release
| $87.00 $82.69 | ▼ −4.95% | ▼ −4.94% | $82.34 (−5.36%) |
|
Apr 24, 2026
6w ago
|
8-K
| $88.55 $86.92 | ▼ −1.84% | ▼ −2.00% | $82.34 (−7.01%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access