Itron Q1 revenue, adjusted EPS fall less than expected

Itron

28/04/2026 13:39

Overview

U.S. energy and water management firm's Q1 revenue declined 3% but beat analyst expectations

Adjusted EPS for Q1 beat consensus, despite slight yr/yr decrease

Revenue decline driven by portfolio optimization and timing of project deployments

Outlook

Itron sees Q2 2026 revenue between $560 mln and $570 mln

Company expects Q2 2026 non-GAAP diluted EPS between $1.25 and $1.35

Itron says utilities are prioritizing resiliency and affordability, supporting multi-year grid investments

Result Drivers

PORTFOLIO OPTIMIZATION & PROJECT TIMING - Revenue decline was mainly due to portfolio optimization and timing of project deployments

SEGMENT PERFORMANCE - Device Solutions revenue fell on lower legacy electricity product sales in EMEA and fewer North American project deployments; Networked Solutions revenue declined due to project timing; Outcomes revenue rose on higher recurring and services revenue

MARGIN IMPROVEMENT - Adjusted gross margin increased due to customer and product mix and operational efficiencies

Company press release: ID:nGNX7PLpwv

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$587 mln
$570.32 mln (10 Analysts)
Q1 Adjusted EPS
Beat
$1.49
$1.25 (9 Analysts)
Q1 EPS
$1.18
Q1 Net Income
$53 mln
Q1 Adjusted EBITDA
$92 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electronic equipment & parts peer group is "buy"

Wall Street's median 12-month price target for Itron Inc is $139.06, about 60% above its April 27 closing price of $86.92

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)