Itron Inc Stock Price, News & Analysis

Itron (NASDAQ: ITRI) has successfully launched a grid-interactive water heater program for Fort Collins Utilities, benefiting over 75,000 customers in Colorado. This initiative connects electric and heat-pump water heaters to utilize excess renewable energy. Customers can save up to 15-20% on electric costs by pre-heating water during non-peak times. Itron's DERM solution, IntelliSOURCE, supports this program by enhancing demand response capabilities, while also integrating OpenADR and CTA-2045 components for better grid management.

Itron, Inc. (NASDAQ: ITRI) announced its annual event, Itron Inspire 2021, scheduled for Oct. 1-8, 2021, in Palm Desert, CA, and virtually. This hybrid conference aims to gather industry leaders from energy, water, and IoT sectors to discuss technological advancements and best practices. The event features keynotes, breakout sessions, and networking opportunities. Registration begins in July, with a commitment to follow COVID-19 safety guidelines. Itron continues to focus on enhancing customer engagement and promoting resource management solutions.

Itron, Inc. (NASDAQ: ITRI) announced the SAP certification of its ISAIM 2.0 interface for the Itron Enterprise Edition™ Meter Data Management System (MDMS) version 10.0. This integration with SAP S/4HANA aids utilities in reducing implementation costs and total ownership expenses, providing access to over 80 certified services. Itron’s partnerships with SAP have lasted over 15 years, with existing customers utilizing over 25 million endpoints. The IEE MDMS is recognized as a leading solution globally, supporting utilities in managing energy and water resources efficiently.

Itron (NASDAQ: ITRI) announced its 2020 Environmental Social Governance (ESG) Report, focusing on efforts to enhance sustainability and resource efficiency. The company prioritized employee and customer safety during the COVID-19 pandemic, adjusting operations accordingly. The report outlines initiatives in four key areas: Environmental Stewardship, which aims to reduce carbon footprint; Community Involvement through digital transformation; Inclusion and Diversity through new leadership; and Shareholder Advocacy emphasizing transparency. The full report is available at www.itron.com/esg.

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.