Itron Q1 Earnings Call Highlights

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Itron (NASDAQ:ITRI) reported first-quarter 2026 results that came successful up of management’s expectations, driven by what executives described arsenic beardown execution and immoderate first-half task deployments moving up of schedule. President and CEO Tom Deitrich said the institution had “a coagulated commencement to the year,” portion emphasizing that the gait of grid-edge deployments remains accordant with the company’s wide outlook for the archetypal fractional of 2026.

Quarterly results bushed expectations arsenic projects pulled guardant

Deitrich highlighted first-quarter gross of $587 million, adjusted EBITDA of $92 million, non-GAAP net per stock of $1.49, and escaped currency travel of $79 million. He noted that portion task timing provided “a humble tailwind” successful the quarter, the institution inactive expects the archetypal fractional of the twelvemonth to beryllium accordant with its archetypal guidance.

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Senior Vice President and CFO Joan Hooper said gross exceeded the company’s outlook scope “due to an acceleration of definite archetypal fractional task deployments.” She added that gross declined year-over-year chiefly due to the fact that of the timing of ample Networked Solutions projects.

Hooper reported GAAP nett income of $53 million, oregon $1.18 per diluted share, compared with $65 million, oregon $1.42 per diluted share, successful the anterior year. She attributed the diminution to higher GAAP operating expenses tied to 2 precocious completed acquisitions and to little involvement income.

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On a non-GAAP basis, Hooper said adjusted gross borderline roseate to 40.7%, up 490 ground points year-over-year. Non-GAAP operating income of $84 cardinal and adjusted EBIT of $92 cardinal some accrued 5% from the anterior year. Non-GAAP nett income was $68 million, oregon $1.49 per diluted share, down somewhat from $1.52 a twelvemonth ago, which Hooper said was driven by little involvement income that was partially offset by higher operating income.