Itron 3Q 2026: Revenue $599.33M, Net income $71.37M, EPS $1.61— 10-Q Summary

What happened

Itron reported third-quarter 2026 revenue of $599.33 million, up 3% from a year earlier. Net income rose 8.8% to $71.37 million and diluted earnings per share, which means profit per share, rose 14.2% to $1.61.

Confirmed

Global impact / market context

Profit grew faster than revenue because services revenue jumped 26%, which carries different costs than product sales and helped offset a 1% decline in product revenue. This mix shift supports earnings and recurring revenue, which reached $423 million versus $339 million a year earlier.

Analyst inference

Nine-month Networked Solutions revenue fell 10% due to deployment timing, while Outcomes revenue rose 15%. The Locusview acquisition expands digital construction management. Management expects cash, operating cash flow and access to capital markets to fund operations for at least 12 months.

Analyst inference

What to watch

1. Annual recurring revenue reached $423 million, up from $339 million a year earlier. Watch whether recurring services revenue keeps growing enough to offset product revenue declines and deployment timing swings in Networked Solutions. Confirmed
2. Track whether management converts the stated 12-month funding expectation, covering cash, operating cash flow and access to capital markets, into actual cash generation as acquisition costs and deployment timing affect working capital. Proposed
3. Watch services growth and profit per sale together. If services revenue keeps rising 26% while product revenue falls, the revenue mix shifts further toward services, changing costs and how much profit each dollar of sales produces. Analyst inference

Evidence

• Original source link unavailable