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. 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.
Itron, Inc. (NASDAQ:ITRI) reported its third quarter results for 2020, revealing a revenue decrease of 13% to $540 million, down from $624 million in Q3 2019. The company faced a GAAP net loss of $(25) million, equating to a loss per share of $(0.63), compared to a profit of $17 million or $0.42 per share last year. Gross margin dropped to 26.5% from 31.5%, while non-GAAP diluted EPS fell to $0.61 from $1.04. Total backlog decreased to $2.8 billion, and free cash flow improved to $38 million. Despite challenges from COVID-19, Itron remains focused on innovation and customer support.
Itron (NASDAQ: ITRI) announced the deployment of over 350,000 smart meters by New Brunswick Power (NB Power) to modernize its electricity grid. This initiative is part of NB Power's smart grid program aimed at enhancing grid efficiency and reliability. The project recently received regulatory approval and is set to commence later this year. The deployment will improve customer service, reduce non-technical losses, and enable real-time data analysis for better risk management and outage response.
Itron, Inc. (NASDAQ: ITRI) announced its financial results for the third quarter ending September 30, 2020, scheduled for release on November 2, 2020. The results will be available on the company's investor relations website at 8:30 a.m. EST, followed by a management conference call at 11 a.m. EST. Interested parties can access the call via a live webcast, with a replay available until November 7, 2020. Itron provides critical infrastructure solutions for utilities and cities globally, promoting resource management for electricity, gas, and water.
On October 5, 2020, Itron announced that the New York State Public Service Commission has approved its 550G Gas Encoder Receiver Transmitter (ERT) module for use in New York's gas utilities. Designed for compliance with state regulations, this module features Advanced Meter Reading (AMR) and Advanced Metering Infrastructure (AMI) technologies. Con Edison will deploy these modules to enhance their IoT network, allowing for on-demand readings and improved gas delivery services. The 550G ERT is available commercially, adding to Itron's leading portfolio of over 75 million AMR/AMI modules.