Itron Q2 FY26 net income falls 22% to $53.27 million; revenue drops 7% to $562.9 million
ITRI•Q2 FY26 results
Itron posted Q2 net income attributable to shareholders of $53.3 million, down 22%, with GAAP diluted EPS of $1.19.
Revenue fell 7% to $562.9 million, while gross margin widened 4.1 percentage points to 41%.
Share repurchase program
The board authorized a new $200 million share repurchase program; Itron bought back $52.2 million of stock in Q2.
Non-GAAP results and backlog
Non-GAAP net income attributable to shareholders slipped 6% to $70.7 million, while adjusted EBITDA rose 8% to $96.8 million.
Total backlog was $4.4 billion, while 12-month backlog rose to $1.7 billion.
