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Itron Inc. develops intelligent infrastructure for utilities and cities that measure, manage and analyze energy, water and city services. Company news commonly covers grid edge intelligence, advanced metering infrastructure, communicating endpoints, network infrastructure, headend software and analytics used across electric, gas and water deployments.
Recurring updates include quarterly results, segment activity in Device Solutions, Networked Solutions, Resiliency Solutions and Outcomes, and customer deployments such as distributed energy resource management for low-voltage networks. Itron also reports product expansions for UtilityIQ, cellular gas and water modules, AI-enabled distributed intelligence, education and sustainability programs, and capital-structure actions such as convertible senior notes.
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Itron, Inc. (NASDAQ: ITRI) will announce its financial results for Q1 2023 on May 4, 2023, before market opening. The results will be available on the company's investor relations website at 8:30 AM EDT, followed by a conference call at 10 AM EDT. Interested parties can join the call via a live webcast, which will also feature a supplemental presentation. A replay of the conference call will be accessible through May 10, 2023. Itron supports utilities and cities globally, providing solutions for more efficient energy and water management.
Itron, Inc. (NASDAQ: ITRI) announced a partnership with Abbanoa S.p.A, Sardinia's main water distributor, to deploy Itron's Intelis wSource smart water meters. This contract aims to reduce water waste and promote sustainable use. The advanced ultrasonic meters will enable remote readings, allowing for efficient leak detection and data collection. Maurizio Zannol, Abbanoa’s sector head, emphasized the technology's role in improving service quality by increasing reading efficiency from 200 to 2,500 per day. Itron's meters are MID-certified for enhanced accuracy, crucial for reliable resource management.
Itron, Inc. (NASDAQ: ITRI) has signed a contract with Duquesne Light Company to modernize its infrastructure using Itron's smart street lighting solution. The project will deploy approximately 60,000 mesh-enabled streetlight nodes, allowing for secure monitoring and control. The initiative aims to enhance energy efficiency and operational performance, with features like real-time alerts for lamp failures and power supply issues. This collaboration supports Itron's mission to enable smart city applications and improve community services. The smart lighting solution is expected to provide a foundation for future Industrial Internet of Things (IIoT) applications.
Itron, Inc. (NASDAQ: ITRI) announced a collaboration with ComEd, Peoples Gas, and North Shore Gas to enhance sustainability in Illinois. This partnership leverages ComEd’s advanced metering infrastructure (AMI) for smart technology to improve natural gas meter reading and reduce carbon emissions. The initiative eliminates over 580,000 driving miles and 626 tons of carbon emissions annually, saving an estimated $5.5 million per year. Itron's AMI project, launched in 2022, aims to modernize 1 million endpoints, enhancing operational efficiency and customer satisfaction in the Chicago area.
Itron, Inc. (NASDAQ: ITRI) has entered into a contract with PT. Megalopolis Manunggal Industrial Development (PT. MMID) to implement Temetra, a state-of-the-art meter data collection and management platform, for enhanced operational efficiency in Indonesia's MM2100 Industrial Town. This initiative aims to optimize water meter usage data collection, thereby reducing billing errors and promoting resource conservation as Indonesia progresses towards Industry 4.0. The platform's analytics capabilities will also help identify and address unusual water anomalies. The collaboration signifies Itron's commitment to advancing smart resource management.
Itron, Inc. (NASDAQ: ITRI) has introduced its Fiber Mini Access Point (Fiber MiniAP™), designed to enhance connectivity for smart meters and devices via existing fiber assets. This innovation aims to support rural electric cooperatives by extending IIoT network coverage and aiding in grid modernization. The Fiber MiniAP reduces infrastructure costs while enabling advanced applications like electric vehicle management and distributed energy resources. Scheduled for testing with cooperative utilities, this solution is set for commercial release in North America in the first half of 2024.
Itron, Inc. (NASDAQ:ITRI) reported its Q4 and full-year 2022 results, revealing quarterly revenue of $467 million and annual revenue of $1.8 billion. The company recorded a gross margin of 30.1% in Q4 and 29.1% for the full year. Q4 GAAP net income reached $22 million ($0.49 per diluted share), improving from a loss of $(59) million last year. However, full-year results showed a net loss of $(10) million per share at $(0.22). Itron's backlog hit a record $4.6 billion. For 2023, the company forecasts revenue between $1.85 and $1.95 billion and non-GAAP EPS of $0.70 to $1.10.