Itron Inc - ITRI STOCK NEWS

Itron (NASDAQ: ITRI) is partnering with EQUANS to implement an intelligent street lighting solution for Sibelga in Brussels, Belgium. This initiative aims to achieve a 20% reduction in electricity consumption by 2035, equal to approximately 600 car trips around the globe each year. The project includes 10 years of communication management and will enhance safety and customer satisfaction. The installation is expected to complete by the end of 2021.

Itron, Inc. has launched Itron Smart Pay in North America, a Software as a Service (SaaS) solution enabling utilities to offer flexible billing and payment options to customers. With over 20 million prepay endpoints globally, this initiative aims to enhance customer engagement and satisfaction by allowing real-time energy consumption tracking. The solution, in partnership with PayGo, leverages advanced technology for efficient debt recovery and improved user experience. This program is timely, supporting customers affected by the COVID-19 pandemic.

Itron reported a revenue of $487 million for Q3 2021, down 10% from the previous year due to component constraints. However, gross margin improved to 27.7%, up 120 basis points. The net loss shrank to $(2) million from $(25) million in 2020, with a loss per share of $(0.04). Non-GAAP diluted EPS was $0.21, down from $0.61. Itron's total backlog grew to $3.4 billion. Additionally, a new share repurchase program of up to $100 million was authorized. The company’s strategy includes the acquisition of SELC and a restructuring project following the sale of certain business segments.

Itron, Inc. (NASDAQ: ITRI) has agreed to sell its global gas regulator and European commercial & industrial gas metering businesses to Dresser Utility Solutions. The transaction, expected to close in the first half of 2022, is subject to customary conditions. Dresser's CEO noted the acquisition will broaden their product offerings and global presence. Itron anticipates this adjustment will help them concentrate on innovative solutions for utilities, enhancing their core capabilities while transitioning affected employees to Dresser's workforce.

Itron, Inc. (NASDAQ: ITRI) will release its financial results for the quarter ended September 30, 2021, on November 4, 2021, before market opening. The press release and financial statements will be available on the company's investor relations website at 8:30 a.m. EDT, followed by a management conference call at 10 a.m. EDT. Interested parties can access the live webcast and supplemental presentation from the company’s website. A telephone replay of the call will be available until November 9, 2021.

Itron, Inc. (NASDAQ: ITRI) released its 2021 Resourcefulness Insight Report, highlighting the critical need for modernizing energy infrastructure to enhance grid resilience amid climate disruption. Key findings from 500 utility executives and consumers across five countries indicate that integrating renewables and upgrading aging infrastructure are top concerns. While 88% of utility executives fear natural disasters affecting the grid, consumers express greater worry about immediate challenges. The report also notes the pandemic's impact on technology investments, emphasizing the urgency for government infrastructure bills.

Itron, Inc. (NASDAQ: ITRI) will host its Investor Day 2021 virtually on October 5, 2021, at 9:30 a.m. EDT. The event is part of Itron Inspire 2021 and will feature insights from CEO Tom Deitrich and CFO Joan Hooper. Attendees can expect updates on the company's long-term strategy and technology roadmap. This decision comes amid rising concerns over the COVID-19 delta variant. The live webcast and a replay will be available on Itron's Investor Relations website.

Itron (NASDAQ: ITRI) has announced the Itron Inspire 2021 virtual event, scheduled for Oct. 4-8, 2021, due to concerns over the COVID-19 Delta variant. This customer-centric event will focus on energy, water, and IIoT innovations. Key sessions include a discussion on industry transformation led by Itron's CEO and a session on decarbonization strategies. Additional topics encompass grid resilience, cybersecurity, and data management solutions. The event aims to foster collaboration among utility leaders and address pressing industry challenges.