The strong EPS beat and raised guidance signal improving operational leverage, but the 7% revenue decline (Networked Solutions -17%) warrants caution. Monitor Q3 revenue guidance ($590-$600M) for stabilization and watch for further commentary on project deployment timing.
Price Chart
Executive Summary
Itron reported Q2 2026 non-GAAP EPS of $1.59, beating consensus of $1.29 by 23.7%, while revenue of $563M missed the $566.3M estimate slightly and declined 7% YoY. The company raised its full-year non-GAAP EPS guidance to $6.30-$6.50, citing record gross margins and strong free cash flow, but the revenue decline (especially in Networked Solutions) tempers the positive earnings surprise.
Key Financial Metrics
Key Facts
- Revenue $563M, down 7% YoY from $607M
- Non-GAAP diluted EPS $1.59 vs consensus $1.29 (+23.7%)
- GAAP diluted EPS $1.19 vs $1.47 YoY
- Adjusted gross margin 41.4%, up 460 bps YoY
- Annual recurring revenue (ARR) $417M, up 21% YoY
- Free cash flow $81M vs $91M YoY
- Backlog $4.4B; Q2 bookings $550M
- Q3 2026 guidance: revenue $590-$600M, non-GAAP EPS $1.50-$1.60
- FY2026 guidance raised: revenue $2.37-$2.41B, non-GAAP EPS $6.30-$6.50
Financial Impact
Non-GAAP EPS beat by $0.30 (23.7%) vs consensus; revenue miss of ~$3.3M (-0.6%); full-year EPS guidance raised by undisclosed amount
Risk Factors
- Revenue decline driven by Networked Solutions project timing and lower volumes
- Integration risk from Urbint and Locusview acquisitions
- Higher interest income decline and tax rate headwinds
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3334251 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 5w ago | Insider Cluster | $98.86 $92.43 | ▼ −6.50% | ▼ −7.71% | $86.51 (−12.49%) |
Aug 25, 2026 5w ago | Insider Cluster | $98.86 $92.43 | ▼ −6.50% | ▼ −7.71% | $86.51 (−12.49%) |
Aug 25, 2026 5w ago | Insider Cluster | $98.86 $92.43 | ▼ −6.50% | ▼ −7.71% | $86.51 (−12.49%) |
Aug 24, 2026 5w ago | Insider Cluster | $98.69 $92.43 | ▼ −6.34% | ▼ −6.36% | $86.51 (−12.34%) |
Aug 24, 2026 5w ago | Insider Cluster | $98.69 $92.43 | ▼ −6.34% | ▼ −6.36% | $86.51 (−12.34%) |
Aug 24, 2026 5w ago | Insider Cluster | $98.69 $92.43 | ▼ −6.34% | ▼ −6.36% | $86.51 (−12.34%) |
Jul 28, 2026 9w ago | Press Release | $107.02 $98.73 | ▼ −7.75% | ▼ −11.13% | $86.51 (−19.16%) |
Jul 9, 2026 12w ago | Institutional Cluster | $84.99 $102.82 | ▲ +20.98% | ▲ +18.74% | $86.51 (+1.79%) |
Jun 16, 2026 15w ago | Press Release | $81.10 $83.46 | ▲ +2.91% | ▲ +2.71% | $86.51 (+6.67%) |
Jun 4, 2026 17w ago | Insider Cluster | $81.05 $85.11 | ▲ +5.01% | ▲ +6.38% | $86.51 (+6.74%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access