Itron Q3 Revenue Rises 3% to $599 Million; Adjusted EPS Reaches $1.94

What happened

Itron reported third-quarter 2026 revenue of $599 million, up 3% from a year earlier. GAAP net income attributable to the company was $71 million, and adjusted diluted earnings per share was $1.94, compared with $1.54 in the prior-year quarter.

Confirmed

Global impact / market context

Higher revenue and a jump in adjusted gross margin to 41.3% from 37.7% mean Itron kept more profit from each sale. That, plus $95.5 million of free cash flow, which means cash left after running and investing in the business, supports its ability to fund operations and return cash.

Analyst inference

Results were mixed by segment: Outcomes revenue rose 9% on services, while Device Solutions fell 2% on weaker legacy gas product sales and Networked Solutions slipped 1% on project timing. Resiliency Solutions added new revenue, and annual recurring revenue, which means repeating service revenue, rose 25%.

Analyst inference

What to watch

1. Device Solutions revenue declined 2% mainly on lower legacy gas product sales, so watch whether that decline continues or stabilizes in coming quarters. Confirmed
2. Networked Solutions fell 1% on project deployment timing, so watch whether delayed projects convert into revenue later or stay pushed out. Analyst inference
3. Watch whether Outcomes services growth and the 25% rise in annual recurring revenue keep offsetting weaker hardware segments and support adjusted gross margin near 41.3%. Analyst inference

Evidence

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