Itron Inc Stock Price, News & Analysis

Itron (NASDAQ: ITRI) has announced its participation in two upcoming investor conferences. The company will attend the Baird Global Industrial Conference in Chicago on November 12, 2024, where Joan Hooper, SVP and CFO, will engage in a fireside chat and investor meetings. Additionally, John Marcolini, SVP for Networked Solutions, will participate in similar activities at the Stephens Annual Investment Conference in Nashville on November 20, 2024.

Itron, Inc. (NASDAQ: ITRI), a company innovating in energy and water management for utilities and cities, has announced the release of its third quarter 2024 financial results. The results will be disclosed on Thursday, October 31, 2024, before the market opens. Itron will publish its press release and financial statements on its investor relations website at 8:30 a.m. EDT.

A management conference call is scheduled for 10 a.m. EDT on the same day to discuss the results. Interested parties can access a live webcast of the call, along with a supplemental presentation, from Itron's website. Participants are advised to access the webcast 10 minutes before the call starts. A replay of the webcast will be available until November 8, 2024.

Itron (NASDAQ: ITRI) has unveiled its Grid Edge Essentials solution, a pre-integrated, real-time system designed to address foundational issues at the grid edge and accelerate the energy transition. This solution provides unprecedented distribution grid visibility and enhances consumer engagement.

Key features of Grid Edge Essentials include:

• High-resolution data from every endpoint at the edge of a utility's distribution network
• Potential to enhance grid capacity by up to 20% through asset optimization
• Real-time visibility and control of distributed energy resources
• Accurate meter-to-phase, transformer, and feeder mapping
• Improved load disaggregation and near real-time insights for consumers
• DataHub for secure API access to curated data products
• Open ecosystem for third-party application development

The solution will be available in North America for IOUs in December 2024, with configurations for international markets, cooperative, and large municipal utilities following in 2025.

Itron's 2024 Resourcefulness Insight Report reveals the critical role of AI and machine learning in addressing utility challenges. Key findings from 600 utility executives across six countries show:

- 86% of utilities identify AI/ML as important for operational challenges
- 82% of utilities are adopting AI/ML
- Top AI/ML use cases: enhancing safety (49%), cyberthreat detection (34%), predictive maintenance (33%)
- Main barriers: lack of expertise (43%), high costs (41%), data infrastructure issues (40%)

The report highlights the strategic importance of grid edge intelligence for greater insight and control across distribution networks. Utilities are facing unprecedented demand growth, driven by data centers (40%), new construction (32%), and sustainability initiatives (31%). Top investment priorities include DERMS (26%), sensors (23%), and consumer engagement tools (22%).

Itron, Inc. (NASDAQ: ITRI) has announced the conference schedule for Itron Inspire 2024, set to take place in Palm Desert, CA, from Oct. 4-10, 2024. This flagship event will bring together industry leaders to address pressing utility challenges and explore innovative solutions in energy, water, IIoT, and smart cities.

The main Knowledge Conference (Oct. 6-8) will feature inspiring keynotes, networking events, over 75 breakout sessions, and a showcase of Itron's integrated solutions. Key highlights include:

• Keynotes from industry leaders and Itron executives
• Presentation of the 2024 Itron Resourcefulness Insight Report
• Women Who Inspire panel discussion
• Big Picture Sessions on grid edge intelligence and sustainability
• Breakout sessions covering various tracks such as Applications, Outcomes & Services, Data Management, and Multi-Purpose Network Solutions

Itron, Inc. (NASDAQ: ITRI) reported strong second quarter 2024 financial results, with revenue increasing 13% to $609 million. Key highlights include:

- GAAP net income of $51 million, up $27 million
- GAAP diluted EPS of $1.10, up $0.57 per share
- Non-GAAP diluted EPS of $1.21, up $0.56 per share
- Adjusted EBITDA of $77 million, up 56%
- Free cash flow of $45 million, up $9 million

The company saw record revenue in Networked Solutions and Outcomes segments. Itron updated its full-year 2024 guidance, projecting revenue between $2.385 to $2.415 billion and non-GAAP diluted EPS between $4.45 to $4.65.

Itron (NASDAQ: ITRI) has announced a call for nominations for the 2024 Itron Innovator Award, recognizing utility or city customers who have implemented cutting-edge solutions using Itron's Technology Partner Enablement Program. The award aims to highlight projects that address energy or water challenges or contribute to creating a more resourceful world. Nominations are open until September 6, 2024, and the winner will be announced at Itron Inspire 2024.

Eligible projects must be piloted, deployed, or have quantifiable outcomes, and integrate successfully with Itron's solutions. The 2023 winner, Tampa Electric Company, was recognized for its Smart Cities and Load Management programs. Itron collaborates with over 200 global partners to enhance its solutions and customer experience, enabling cities and utilities to address critical challenges in energy, water, and smart city management.

Itron, Inc. (NASDAQ: ITRI) has reached a significant milestone, shipping over 1 million Cyble 5 water communication modules. The millionth module was delivered to Severn Trent Water, one of the largest U.K. water utilities. This deployment is part of Severn Trent's Green Recovery Program, aimed at addressing climate disruption impacts and supporting economic vitality.

The Cyble 5 module transforms mechanical meters into communication data endpoints, enabling utilities to digitalize their water networks. Connected through a LoRaWAN network provided by Itron's partner Connexin, the solution offers Advanced Metering Infrastructure capabilities. Severn Trent Water is deploying 400,000 smart meters equipped with Cyble 5 modules, which will help improve consumer engagement, reduce water waste, and manage leaks proactively.

This technology has already helped Severn Trent achieve a demand reduction of almost four mega litres of water daily across their network, surpassing expectations. The milestone underscores Itron's commitment to helping utilities lower operational costs and achieve sustainability goals through network digitalization.

Itron, Inc. (NASDAQ: ITRI) announced its flagship customer event, Itron Inspire 2024, scheduled for Oct. 4-10, 2024, at the JW Marriott Desert Springs Resort & Spa in Palm Desert, California. The event will feature keynote presentations from Southern California Edison's SVP and CIO, Todd Inlander, and Dr. Michael E. Webber from the University of Texas at Austin. With over 75 breakout sessions and major networking events, the conference aims to gather more than 1,200 industry leaders from over 250 utilities to explore solutions for a sustainable future in energy and water management.

Itron will release its 2024 Resourcefulness Insight Report during the conference, focusing on AI and machine learning impacts in the utility industry. The event will showcase Itron's leadership in developing intelligent, resilient, and reliable electricity, gas, and water systems.