Itron Inc - ITRI STOCK NEWS

Itron (NASDAQ: ITRI) has partnered with digimondo, a leader in LoRaWAN-based software solutions, to integrate Itron’s Cyble 5 communications module with digimondo’s IoT software. This collaboration enables utilities in Germany to manage their water distribution networks flexibly using LoRaWAN technology. The solution allows for remote meter reading, transforming traditional meters into smart devices. Additionally, it supports the development of smart cities through the embedded Digital Twin technology in digimondo's software, enhancing network management without data loss.

Itron, Inc. (NASDAQ: ITRI) has appointed Santiago Perez to its board of directors, effective June 1. Perez, with nearly 35 years of experience in high-tech industries, including a significant role at Schneider Electric, is expected to enhance the company's strategic direction. His background in sales, product management, and service operations will contribute to Itron's mission to innovate energy and water management solutions. The board believes Perez's expertise will be vital as Itron strengthens its leadership in the industrial IoT sector.

Itron (NASDAQ: ITRI) has partnered with Microsoft to enhance its Meter Data Management (MDM) services through scalable cloud solutions. The collaboration achieved significant performance benchmarks, validating that Itron Enterprise Edition™ MDM can process 2.8 billion readings daily in under three hours, supporting utilities with a reliable platform on Microsoft Azure. This partnership aims to lower operational costs and drive digital transformation in utility management, ensuring a robust data-driven future. Itron’s MDM system claims to be the most widely deployed globally, managing over 45 million meters.

Itron, Inc. (NASDAQ: ITRI) has signed a two-year contract extension with Southern Maryland Electric Cooperative (SMECO), continuing to provide a pay-for-performance demand response solution as part of SMECO’s CoolSentry load management program. This collaboration, ongoing since 2008, aims to reduce peak demand and improve cost efficiency for SMECO’s over 169,000 member accounts. Itron's IntelliSOURCE® Enterprise™ software plays a crucial role in managing this program, ensuring reliable energy delivery and optimizing distributed energy resources.

Itron, Inc. (NASDAQ:ITRI) reported first quarter 2021 results, showing a 13% decline in revenue to $520 million compared to $598 million in 2020. Gross margin improved to 32.2% from 28.7%, and GAAP net income rose to $13 million or $0.30 EPS, up from $9 million or $0.21 EPS a year earlier. Non-GAAP diluted EPS declined to $0.52 from $0.57. Free cash flow significantly increased to $39 million from $6 million. The total backlog rose to $3.4 billion.

Itron, Inc. (NASDAQ: ITRI) CEO Tom Deitrich has been appointed to the GridWise Alliance's new Grid Infrastructure Advisory Council (GIAC). This 29-member council aims to enhance U.S. electric grid investment, significantly backed by a $50 billion federal push for modernization. Deitrich, with over 20 years of global operations experience, emphasizes the necessity of investing in the grid to tackle challenges posed by renewable energy and aging infrastructure. Itron has been a GWA member since its inception in 2003, contributing to efforts for a resilient and reliable electric grid.

Itron, Inc. (NASDAQ: ITRI) will announce its financial results for Q1 2021 on May 3, 2021, before market opening. The results will be available on its website at 8:30 a.m. EDT, followed by a management conference call at 10 a.m. EDT. Interested parties can participate in the live webcast and should access it 10 minutes early for setup. A telephone replay will be available until May 8, 2021. Itron specializes in delivering infrastructure solutions for utilities and cities globally, focused on resource management.

Itron (NASDAQ: ITRI) has partnered with Consolidated Edison to deploy 4 million smart gas modules and electricity meters in New York as part of their Advanced Metering Infrastructure project. Additionally, 25,000 methane detectors have been installed, successfully identifying over 300 gas events. This initiative leverages Itron's Industrial IoT platform to enhance outage detection, lower energy consumption, and minimize greenhouse gas emissions through efficient grid operations. Itron aims to bolster Con Edison’s operational capabilities and customer service.

Itron (NASDAQ: ITRI) has been recognized as a Visionary in the March 2021 Gartner Magic Quadrant for Managed IoT Connectivity Services. This recognition highlights Itron's role in providing robust IoT solutions that support utilities and cities in managing energy and water. The company emphasizes its capabilities in data management, intelligent analytics, and control systems for advanced utility and smart city applications. Itron's IIoT platform enables enhanced customer services, reduced costs, and improved engagement through a reliable connectivity network.