Itron Posts Strong Adjusted Q2 Earnings but Revenue Slightly Misses Estimates

The results and new quarterly and full-year guidance give investors a clearer view of the utility metering maker's profit outlook and sales trajectory.

Overview

Itron reported GAAP net income of $53.3 million and GAAP earnings per share of $1.19 for the second quarter.
Adjusted earnings were $1.59 per share, topping the Zacks analyst consensus of $1.30 and exceeding Wall Street expectations.
Quarterly revenue was $562.9 million, a modest shortfall versus the Zacks consensus near $564.7 million.
The company set third-quarter guidance of $1.50 to $1.60 per share and $590 million to $600 million in revenue and gave full-year guidance of $6.30 to $6.50 per share and $2.37 billion to $2.41 billion in revenue.
This report was generated from Zacks data by Automated Insights and distributed by the Associated Press, and investors typically weigh both GAAP and adjusted figures to judge Itron's operating performance.