Itron Q3 revenue beats on growth in Outcomes and Resiliency Solutions
ITRI•Itron’s third-quarter revenue rose 3% to $599 million, slightly above analyst expectations, while adjusted EPS of $1.94 beat expectations of $1.56. The company forecast fourth-quarter revenue of $621 million to $636 million and full-year revenue of $2.37 billion to $2.385 billion.
1. Quarterly results
Itron reported third-quarter revenue of $599 million and adjusted EPS of $1.94. Revenue growth was primarily driven by higher revenue in the Outcomes segment and contributions from Resiliency Solutions. Device Solutions revenue fell on lower sales of legacy gas products, while Networked Solutions revenue declined due to the timing of project deployments.
2. Company outlook
Itron expects fourth-quarter revenue of $621 million to $636 million and non-GAAP diluted EPS of $1.70 to $1.80. It forecasts full-year revenue of $2.37 billion to $2.385 billion.
