Itron Q3 revenue beats on outcomes, resiliency solutions segments growth
Overview
Utility management technology firm's Q3 revenue rose 3%, slightly beating analyst expectations
Adjusted EPS for Q3 was $1.94, beating analyst expectations
Revenue growth driven by higher services and Resiliency Solutions; Device Solutions, Networked Solutions declined
Outlook
Itron sees Q4 revenue between $621 mln and $636 mln
Company expects Q4 non-GAAP diluted EPS between $1.70 and $1.80
Itron forecasts full-year revenue between $2.37 bln and $2.385 bln
Result Drivers
OUTCOMES AND RESILIENCY SOLUTIONS - Co said revenue growth was primarily driven by higher Outcomes segment and new Resiliency Solutions contribution
DEVICE SOLUTIONS DECLINE - Device Solutions revenue fell due to lower sales of legacy gas products
NETWORKED SOLUTIONS TIMING - Networked Solutions revenue declined due to timing of project deployments
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $599 mln | $595.85 mln (8 Analysts) |
Q3 Adjusted EPS | Beat | $1.94 | $1.56 (8 Analysts) |
Q3 EPS | $1.61 | ||
Q3 Net Income | $71 mln | ||
Q3 Adjusted EBITDA | $115 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Itron, Inc. is $129.91, about 48.1% above its October 26 closing price of $87.73
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)