ITRON, INC. — Form 8-K
Filed July 28, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Itron reported Q2 2026 revenue of $563M (down 7% YoY) driven by lower Networked Solutions ($309M, -17% YoY) and Device Solutions ($111M, -1% YoY), partially offset by Outcomes growth (+13%). Adjusted gross margin expanded 460 bps to 41.4%. GAAP net income fell to $53M ($1.19 EPS) from $68M ($1.47 EPS) due to lower interest income and higher tax rates, but non-GAAP EPS of $1.59 slightly declined. Company raised full-year 2026 non-GAAP EPS guidance to $6.30–$6.50 (from prior undisclosed level) and revenue to $2.37–$2.41B; Q3 guidance: $590–$600M revenue, $1.50–$1.60 EPS. Total backlog: $4.4B; free cash flow: $81M (down $9M).
Why this rating
Mixed results: margin expansion and guidance raise offset by 7% revenue decline and lower net income. Modest margin of achievement relative to ~$5.9B market cap; incremental, not transformational.
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