Itron revenue increases 3% to $599.3 million in Q3
Key points
- Itron (NASDAQ:ITRI) reported third-quarter 2026 revenue of $599.3 million, up 3% year over year, and non-GAAP diluted earnings of $1.94 per share, above analyst estimates.
- Adjusted EBITDA increased 18% to $115 million, free cash flow reached $96 million, and total backlog stood at $4.3 billion.
- Itron forecast fourth-quarter revenue of $621 million–$636 million and raised its full-year 2026 revenue guidance to $2.37 billion–$2.385 billion.
Itron (NASDAQ:ITRI) reported third-quarter 2026 revenue of $599.3 million, up 3% year over year, while non-GAAP diluted earnings reached $1.94 per share, exceeding analyst expectations.
Revenue surpassed consensus estimates of approximately $595.5 million–$596.5 million, while GAAP net income increased to $71 million from $66 million a year earlier.
The company reported adjusted EBITDA of $115 million, up 18% year over year, and free cash flow of $96 million.
Networked Solutions revenue declined 1% to $389.5 million, Device Solutions revenue fell 2% to $101.5 million, Outcomes revenue increased 9% to $92.2 million, and Resiliency Solutions generated $16.1 million.
Itron forecast fourth-quarter revenue of $621 million–$636 million and non-GAAP diluted earnings of $1.70–$1.80 per share.
The company reported a total backlog of $4.3 billion and quarterly bookings of $482 million, while its full-year revenue guidance stood at $2.37 billion–$2.385 billion and its adjusted earnings forecast at $6.72–$6.82 per share.
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