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Itron, Inc. crushed third-quarter earnings expectations, reporting Non-GAAP diluted earnings of $1.94 per share that beat the $1.59 consensus estimate by 22.0%. The technology and solutions provider, which manages energy, water, and smart city operations worldwide, posted revenue of $599.3M for the quarter, up 3.0% from the $581.6M recorded in Q3 2025. Net income reached $71.4M for the quarter.
The company’s Networked Solutions segment led operations with $389.5M in revenue, though the division saw a 1.1% year-over-year decline. Itron maintained a robust total backlog of $4.3B at quarter-end, while annual recurring revenue came in at $423M for the period. The performance underscores continued demand for the company’s infrastructure solutions as utilities and municipalities modernize their operations.
Management provided fourth-quarter guidance with expected adjusted EPS ranging from $1.70 to $1.80 and revenue projected between $621.0M and $636.0M. The outlook suggests sequential revenue growth as the company heads into the final quarter of 2026.
Wall Street maintains a positive stance on the stock, with analyst consensus stan...