Itron Shares Jump Over 26% on Strong Earnings Guidance
On July 28, Itron (NASDAQ: ITRI) saw its stock price surge by more than 26%, driven primarily by a strong upward revision to its full-year earnings guidance. Despite reporting a 7% year-over-year revenue decline and lower adjusted net income in the second quarter, investors were optimistic about management's updated outlook. The company narrowed its annual revenue forecast to between $2.37 billion and $2.41 billion while significantly raising its adjusted earnings per share (EPS) guidance from $5.75–$6.25 to $6.30–$6.50. CEO Tom Deitrich highlighted increased demand, particularly in the utility sector, where Itron provides smart metering and sensor solutions. The stock's sharp rise reflects investor confidence that Itron is well-positioned amid growing complexity for utilities, including rising reliability expectations and affordability pressures.
Tickers: $ITRI