Itron Plunges 27% After Earnings Beat, Baird Downgrade, Worsening Visibility

Itron's stock plummeted 27% in two days after the company reported Q3 earnings that beat estimates but issued mixed Q4 guidance. The company saw EPS of $2.15-$2.25, above the FactSet consensus of $1.46, but revenues of $555 million-$565 million, below the consensus of $587 million. The downgrade from Baird further exacerbated the decline in stock value.