Itron Shares Rise Over 26% After Earnings Beat and Raised Growth Outlook
Itron Inc. (NASDAQ:ITRI) saw its stock price surge by over 26% after reporting second-quarter results that exceeded expectations despite a year-over-year revenue decline. The company reported non-GAAP diluted earnings per share of $1.59, surpassing guidance and up from the previous quarter's forecast range of $1.25 to $1.35. Total revenues came in at $563 million for Q2 2026, a 7% drop compared to last year but within its projected range. Itron raised its full-year revenue outlook and expects improved performance in the third quarter of 2026. For FY2026, it now anticipates revenues between $2.37 billion and $2.41 billion—slightly higher than earlier guidance—and a non-GAAP diluted EPS range of $6.30 to $6.50. CEO Tom Deitrich highlighted strong free cash flow and gross margins as evidence of the company's improved earnings power, citing ongoing demand for grid expansion and resiliency solutions. Institutional confidence in Itron increased during Q1 2026 despite a decline in hedge fund participation. Total institutional holdings rose to $538 million from $456 million previously.
Tickers: $ITRI
Topics: Earnings Growth Outlook Stock Performance