Jabin Bastian
2 min read
Resource management provider Itron (NASDAQ:ITRI) will be announcing earnings results this Tuesday before the bell. Here’s what investors should know.
Itron missed analysts’ revenue expectations last quarter, reporting revenues of $562.9 million, down 7.2% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
Is Itron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Itron’s revenue to grow 2.4% year on year, a reversal from the 5.5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Itron has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Itron’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 9.4%, beating analysts’ expectations by 1.9%, and Badger Meter reported flat revenue, falling short of estimates by 2.1%. Teledyne traded down 1.9% following the results while Badger Meter was up 14.4%.
Read our full analysis of Teledyne’s results here and Badger Meter’s results here.
Over the last year or so, investors’ attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.9% on average over the last month. Itron’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $128.44 (compared to the current share price of $88).
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