Itron (NASDAQ:ITRI) Releases Quarterly Earnings Results, Beats Expectations By $0.38 EPS

Posted by Brenda Bartman on Oct 29th, 2026

Itron (NASDAQ:ITRI – Get Free Report) posted its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.38, Briefing.com reports. Itron had a return on equity of 19.26% and a net margin of 11.90%. The company had revenue of $599.33 million during the quarter, compared to analysts’ expectations of $595.50 million. During the same period in the prior year, the business earned $1.54 earnings per share. Itron’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Here are the key takeaways from Itron’s conference call:

Strong third-quarter performance: Revenue increased 3% year over year to $599 million, while adjusted EBITDA reached a record $115 million and non-GAAP EPS rose 26% to $1.94. Gross margin expanded to 41.3%, supported by favorable mix, operational efficiencies, and cost discipline.
Itron narrowed its full-year revenue outlook to $2.37 billion–$2.385 billion and raised its full-year non-GAAP EPS guidance to $6.72–$6.82; fourth-quarter revenue is expected to grow 10% year over year at the midpoint.
Bookings increased 27% year over year to $482 million, October bookings started strongly, and backlog reached $4.3 billion. Annual recurring revenue grew approximately 25%, driven by expanding adoption of Grid Edge Intelligence, software, analytics, and services.
Management sees substantial future demand in gas distribution, grid resiliency, wildfire prevention, and utility modernization, but acknowledged that the expected gas-related awards have not yet meaningfully appeared in bookings or financial results. Free cash flow declined to $96 million from $113 million a year ago due to working-capital needs, higher tax payments, and lower interest income.

Itron Price Performance

NASDAQ ITRI traded down $0.37 on Thursday, hitting $92.22. 92,440 shares of the company were exchanged, compared to its average volume of 819,637. The firm has a 50 day moving average of $91.19 and a two-hundred day moving average of $91.07. The company has a market cap of $4.04 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.05 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 2.29 and a debt-to-equity ratio of 0.96. Itron has a 1-year low of $77.77 and a 1-year high of $142.00.

Analysts Set New Price Targets

ITRI has been the subject of a number of research analyst reports. BNP Paribas Exane cut their price objective on shares of Itron from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on Itron from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zacks Research lowered Itron from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Oppenheimer reaffirmed an “outperform” rating on shares of Itron in a report on Wednesday. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $150.00 price objective on shares of Itron in a research report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $129.20.

Read Our Latest Research Report on ITRI

Insider Activity at Itron

In related news, SVP Justin K. Patrick sold 10,210 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $97.36, for a total value of $994,045.60. Following the completion of the sale, the senior vice president owned 22,065 shares of the company’s stock, valued at $2,148,248.40. This trade represents a 31.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Donald L. Reeves III sold 283 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $99.99, for a total transaction of $28,297.17. Following the completion of the sale, the senior vice president directly owned 27,662 shares of the company’s stock, valued at approximately $2,765,923.38. This represents a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,903 shares of company stock worth $1,753,521. 1.77% of the stock is owned by insiders.

Key Itron News

Here are the key news stories impacting Itron this week:

Positive Sentiment: Strong third-quarter results: Itron reported $599.3 million in revenue, up 3% year over year, and $1.94 in adjusted earnings per share, beating consensus estimates of $595.5 million and $1.56, respectively. Net income was $71.4 million. Margin strength and recurring-revenue growth were key positives. Itron Stock Jumps as Q3 Earnings Showcase Margin Strength
Positive Sentiment: Improved outlook and valuation support: Coverage following the report characterized Itron as potentially undervalued and highlighted raised guidance, while analysts’ average price target implies approximately 36% upside. Stronger earnings-estimate revisions provide more meaningful support than the target-price average alone. Wall Street Analysts See Upside in Itron
Positive Sentiment: Constructive analyst actions: JPMorgan raised its target to $109 and retained an “overweight” rating, while Needham increased its target to $137 and reiterated “buy.” These revisions reinforce confidence in Itron’s growth and profitability prospects. JPMorgan Itron Price Target
Neutral Sentiment: Technical momentum: The stock recently moved above its 200-day moving average, a potentially favorable technical signal, although trading volume has been well below average and may limit the significance of the move. Itron Stock Breaks Above 200-Day Moving Average
Negative Sentiment: Mixed analyst signals: BNP Paribas Exane cut its target from $115 to $105, even while maintaining an “outperform” rating. The reduction may be contributing to near-term caution despite the broader positive analyst consensus. BNP Paribas Exane Lowers Itron Price Target

About Itron

(Get Free Report)

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.