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Itron Inc - ITRI STOCK NEWS

Welcome to our dedicated page for Itron news (Ticker: ITRI), a resource for investors and traders seeking the latest updates and insights on Itron stock.

Itron Inc. (NASDAQ: ITRI) is a leading technology company that enables utilities and cities to safely, securely, and reliably deliver critical infrastructure services. Itron operates globally, serving communities in over 100 countries, and offers a comprehensive portfolio that includes smart networks, software, services, meters, and sensors.

The company manages and reports through three primary operating segments:

  • Device Solutions: This segment includes hardware products used for measurement, control, or sensing. These devices do not have embedded communication capabilities, making them essential standalone tools within the broader Itron systems.
  • Networked Solutions: This segment provides integrated solutions combining communicating devices, network infrastructure, and application software. These products are designed and sold as complete systems, offering robust capabilities for monitoring and managing energy and water resources.
  • Outcomes: This segment delivers value-added software and services that enhance decision-making and operational efficiency. The solutions offered in this segment help utilities and cities analyze and interpret data to optimize their operations and profitability.

Recently, Itron has been focusing on innovative projects such as the Pipe Asset Management Software, which helps utilities make informed decisions about the replacement and maintenance of water pipes. By leveraging data from various sources including GIS, historical failure data, and advanced metering infrastructure, this tool uses AI to identify pipes that are at risk of failure. The software also supports lead pipe inventory replacement, ensuring the safe delivery of drinking water.

With its commitment to innovation and sustainability, Itron aims to improve the quality of life by safeguarding natural resources and enhancing the efficiency of critical infrastructure services. For more information, visit their official website at www.itron.com.

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Itron, Inc. (NASDAQ: ITRI) reported strong second quarter 2024 financial results, with revenue increasing 13% to $609 million. Key highlights include:

- GAAP net income of $51 million, up $27 million
- GAAP diluted EPS of $1.10, up $0.57 per share
- Non-GAAP diluted EPS of $1.21, up $0.56 per share
- Adjusted EBITDA of $77 million, up 56%
- Free cash flow of $45 million, up $9 million

The company saw record revenue in Networked Solutions and Outcomes segments. Itron updated its full-year 2024 guidance, projecting revenue between $2.385 to $2.415 billion and non-GAAP diluted EPS between $4.45 to $4.65.

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Itron (NASDAQ: ITRI) has announced a call for nominations for the 2024 Itron Innovator Award, recognizing utility or city customers who have implemented cutting-edge solutions using Itron's Technology Partner Enablement Program. The award aims to highlight projects that address energy or water challenges or contribute to creating a more resourceful world. Nominations are open until September 6, 2024, and the winner will be announced at Itron Inspire 2024.

Eligible projects must be piloted, deployed, or have quantifiable outcomes, and integrate successfully with Itron's solutions. The 2023 winner, Tampa Electric Company, was recognized for its Smart Cities and Load Management programs. Itron collaborates with over 200 global partners to enhance its solutions and customer experience, enabling cities and utilities to address critical challenges in energy, water, and smart city management.

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Itron, Inc. (NASDAQ: ITRI) has reached a significant milestone, shipping over 1 million Cyble 5 water communication modules. The millionth module was delivered to Severn Trent Water, one of the largest U.K. water utilities. This deployment is part of Severn Trent's Green Recovery Program, aimed at addressing climate disruption impacts and supporting economic vitality.

The Cyble 5 module transforms mechanical meters into communication data endpoints, enabling utilities to digitalize their water networks. Connected through a LoRaWAN network provided by Itron's partner Connexin, the solution offers Advanced Metering Infrastructure capabilities. Severn Trent Water is deploying 400,000 smart meters equipped with Cyble 5 modules, which will help improve consumer engagement, reduce water waste, and manage leaks proactively.

This technology has already helped Severn Trent achieve a demand reduction of almost four mega litres of water daily across their network, surpassing expectations. The milestone underscores Itron's commitment to helping utilities lower operational costs and achieve sustainability goals through network digitalization.

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Itron, Inc. (NASDAQ: ITRI) announced its flagship customer event, Itron Inspire 2024, scheduled for Oct. 4-10, 2024, at the JW Marriott Desert Springs Resort & Spa in Palm Desert, California. The event will feature keynote presentations from Southern California Edison's SVP and CIO, Todd Inlander, and Dr. Michael E. Webber from the University of Texas at Austin. With over 75 breakout sessions and major networking events, the conference aims to gather more than 1,200 industry leaders from over 250 utilities to explore solutions for a sustainable future in energy and water management.

Itron will release its 2024 Resourcefulness Insight Report during the conference, focusing on AI and machine learning impacts in the utility industry. The event will showcase Itron's leadership in developing intelligent, resilient, and reliable electricity, gas, and water systems.

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Itron, innovating in utility and city energy and water management, will announce its second-quarter financial results on August 1, 2024, prior to market opening. The results, covering the quarter ending June 30, 2024, will be accessible on Itron's investor page at 8:30 a.m. EDT. A management conference call will follow at 10 a.m. EDT, available via live webcast. Participants can register for the webcast in advance and access the replay until August 9, 2024.

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Itron (NASDAQ: ITRI) has announced the pricing of its $700 million offering of 1.375% convertible senior notes due 2030, upsized from $500 million. The notes, aimed at qualified institutional buyers, will mature on July 15, 2030, unless converted, redeemed, or repurchased earlier. They will accrue interest biannually starting January 2025 and have a conversion rate of 7.6199 shares per $1,000 principal amount, equating to a $131.24 per share conversion price. Proceeds, estimated at $681.1 million, will fund capped call transactions, share repurchases, debt repayment, and general corporate purposes. The company has granted initial purchasers an option to buy an additional $105 million in notes.

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Itron (NASDAQ: ITRI) announced a private offering of $500 million in convertible senior notes due 2030 to qualified institutional buyers under Rule 144A. The offering includes an option to purchase an additional $75 million in notes. The proceeds will fund capped call transactions to mitigate stock dilution and repurchase up to $100 million of its common stock. Remaining funds may repay existing debts or support potential acquisitions. The notes are not registered under the Securities Act and cannot be publicly traded without registration or exemption.

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Itron (NASDAQ: ITRI) has announced that Integra S.R.L., a utility services provider in Italy, Switzerland, and Albania, has become the first Itron Engage Sales Channel Partner in Italy. This partnership will enable local utilities and cities in Italy to enhance their grid infrastructure using Itron’s energy and water management solutions.

The collaboration offers several benefits, including shorter delivery times, reduced shipping costs, and personalized technical assistance. Integra will provide installation help, maintenance support, and continuous after-sales service. This partnership aims to strengthen local business relationships and streamline the deployment of Itron's products, such as automated meter reading systems and advanced metering infrastructure.

Massimo Carbone, CEO of Integra, expressed enthusiasm about expanding access to Itron’s solutions in Italy. Gregory Raby, EMEA Channel Partner Leader at Itron, emphasized the ongoing training and support provided through the Itron Engage Sales Channel Partner Program, highlighting the mutual benefits of the collaboration.

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Itron (NASDAQ: ITRI) has partnered with VODA.ai to introduce Pipe Asset Management, a solution designed to help water utilities identify, predict, and prioritize water pipe replacements using artificial intelligence. Combining Itron’s detailed meter data with VODA.ai’s daVinci™ AI engine, the tool analyzes existing utility data and public data such as soil and terrain to pinpoint at-risk pipes. The collaboration aims to reduce costs and improve decision-making for utilities, with an emphasis on identifying and managing non-revenue water and lead pipe replacements. This initiative addresses the significant issue of aging water infrastructure, with 20% of U.S. and Canadian water pipes past their useful life. Itron's solution is globally available and will be showcased at the AWWA’s Annual Conference & Expo (ACE24).

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Itron has released its 2023 Corporate Sustainability Report, detailing significant achievements in reducing carbon emissions and enhancing customer resourcefulness. The company surpassed its goal to cut owned carbon emissions by 50% five years ahead of schedule, achieving this milestone in 2023. Key highlights include enabling customers to avoid 6.8 million metric tons of greenhouse gas emissions through advanced grid edge intelligence and smart city solutions. Itron also achieved 88% ISO 14001 certification across its manufacturing facilities, showcasing its commitment to environmental management. The report underscores the company's focus on integrity, with a diverse board composition and recognition for fostering an inclusive workplace. Itron's emphasis on sustainability, ethical business practices, and community support is evident in its comprehensive 2023 strategy.

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FAQ

What is the current stock price of Itron (ITRI)?

The current stock price of Itron (ITRI) is $96.69 as of September 9, 2024.

What is the market cap of Itron (ITRI)?

The market cap of Itron (ITRI) is approximately 4.3B.

What does Itron Inc. do?

Itron Inc. provides solutions for measuring, managing, and analyzing energy and water use, serving communities in over 100 countries.

What are Itron's main business segments?

Itron operates through three segments: Device Solutions, Networked Solutions, and Outcomes.

How does Itron help improve water management?

Itron's Pipe Asset Management Software uses data and AI to identify and prioritize pipe replacements, reducing water loss and ensuring safe delivery.

What is included in Itron's Networked Solutions segment?

The Networked Solutions segment includes communicating devices, network infrastructure, and application software designed as complete solutions.

Where can I find more information about Itron's products and services?

More information is available on Itron's official website at www.itron.com.

Who can benefit from Itron's solutions?

Utilities and cities globally use Itron's solutions to efficiently manage energy and water resources.

What recent projects has Itron been involved in?

One of Itron's recent projects is the Pipe Asset Management Software, which helps utilities manage and replace water pipes using AI.

How does Itron ensure the safe delivery of drinking water?

Itron's solutions include AI tools for identifying and replacing lead pipes, ensuring the safe delivery of drinking water.

What innovations has Itron introduced in the field of energy management?

Itron offers smart networks, meters, and sensors that enhance the efficiency and reliability of energy management.

How can I contact Itron for investor relations?

For investor relations, you can contact Paul Vincent, Vice President, at (512) 560-1172 or David Means, Director, at (737) 242-8448. Their email is investors@itron.com.

Itron Inc

Nasdaq:ITRI

ITRI Rankings

ITRI Stock Data

4.35B
44.96M
0.85%
110.48%
7.4%
Scientific & Technical Instruments
Instruments for Meas & Testing of Electricity & Elec Signals
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