Itron Reports Record Adjusted EBITDA and Strong ARR Growth in Q3 2026
Itron (ITRI) delivered a strong third quarter for fiscal year 2026, reporting revenue of $599 million, a 3% increase driven by the Resiliency Solutions segment and expansion in Outcomes. The company achieved a record adjusted EBITDA of $115 million and reported Non-GAAP EPS of $1.94, which exceeded management expectations and represented a $0.40 increase year-over-year. A key highlight was the 25% year-over-year growth in Annual Recurring Revenue (ARR), reaching $423 million as the company's software and analytics portfolio scales. While free cash flow saw a slight decline to $96 million due to working capital changes, Itron maintained a healthy liquidity position of $1.6 billion. Management is currently transitioning toward a model focused on structural earnings leverage and recurring revenue driven by grid resiliency and distributed intelligence needs.
Tickers: $ITRI
Topics: ARR Expansion EBITDA Record EPS Beat Financial Guidance Revenue Growth