Itron Inc Stock Price, News & Analysis

Eastside Utility District (EUD) in Tennessee is deploying Itron's Smart Water Solutions to modernize its water network. The project involves upgrading 25,000 mechanical meters to ultrasonic smart water meters with cellular communication modules. The implementation includes a cellular Advanced Metering Infrastructure (AMI) network and Temetra® cloud-based management system. Key benefits include enhanced leak detection, streamlined data collection, reduced field visits, and increased annual water revenues by over 10%. Customers gain access to near real-time usage data through EUD's WaterSmart Customer Portal, promoting better water management and conservation.

Itron (NASDAQ: ITRI) has enhanced its Intelligent Connectivity suite by incorporating Verizon Network Continuity solutions with multi-network eSIM technology. The collaboration aims to provide more reliable communications for utilities, particularly in remote areas with variable network coverage. The integration with Itron's Gen5 Cellular Access Point enables automatic network switching to optimize connectivity and ensure uninterrupted operations. This enhancement includes remote eSIM management capabilities, helping to future-proof utility network investments and support evolving technology adoption.

Itron (NASDAQ: ITRI) announced a collaboration with Cielis to manage nearly 200,000 smart streetlights in Paris for the next 10 years. The project, utilizing Itron's CityEdge portfolio, aims to reduce energy usage by 30% and improve streetlight performance. The system will enable remote control and programming of streetlights, synchronize traffic lights to optimize traffic patterns, and reduce carbon emissions. This extends Itron's relationship with Paris that began in 2015 with the city's initial IoT network investment. The solution builds on Itron's global presence of 270 million IoT endpoints across 8,000 customers in over 100 countries.

Itron (NASDAQ: ITRI) reported strong Q3 2024 financial results with revenue increasing 10% to $615 million. Gross profit rose 12% to $210 million, while GAAP net income reached $78 million, up $38 million year-over-year. GAAP diluted EPS increased by $0.83 to $1.70, and non-GAAP diluted EPS grew by $0.86 to $1.84. The company's adjusted EBITDA improved 29% to $89 million, with free cash flow up $30 million to $59 million.

All business segments showed growth: Device Solutions revenue up 11%, Networked Solutions up 8%, and Outcomes up 17%. The company updated its full-year 2024 guidance, projecting revenue between $2.428-$2.438 billion and non-GAAP diluted EPS of $5.28-$5.38.

Itron (NASDAQ: ITRI) has unveiled its CityEdge portfolio, a comprehensive IoT solution addressing modern city challenges across five key areas: smart lighting, traffic and highways, environment and sustainability, public safety, and energy/water utilities. The portfolio builds on Itron's experience managing over 4 million lights globally and serves over 8,000 customers across 100+ countries with 270 million IoT endpoints deployed. CityEdge offers real-time monitoring and control capabilities for street lighting, traffic conditions, environmental metrics, and safety-related events through a unified platform with multi-transport networking and intelligent connectivity.

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%).