Itron Q2 profit beats despite revenue drop from weaker project deployments

The current average analyst rating on the shares is buy, with 12 strong buy or buy ratings, 2 hold ratings and 1 sell or strong sell rating.

The median 12-month price target is $130.00, about 53.3% above the July 27 closing price of $84.78. The stock recently traded at 13 times next 12-month earnings, versus a P/E of 14 three months ago.

For the third quarter, Itron expects revenue between $590 million and $600 million and non-GAAP diluted EPS between $1.50 and $1.60.

Itron raised its full-year 2026 non-GAAP diluted EPS outlook to $6.30 to $6.50.

Itron said second-quarter revenue fell 7% to $563 million, slightly below analyst expectations of $566.08 million. Adjusted earnings per share came in at , ahead of the consensus estimate.