Itron Q2 Earnings Beat, Sales Lag, Revenue Outlook Lowered Amid Challenging Market

Itron Inc. reported Q2 2025 non-GAAP EPS of $1.62, beating estimates by 21.8%. Revenue of $607 million was flat YoY, but the company lowered its full-year revenue outlook by 3% and raised its EPS outlook by 13%. Shares declined 10% due to the mixed performance and lowered revenue expectations.

Itron Inc. (ITRI) reported its second quarter (Q2) 2025 earnings on July 31, 2025, with non-GAAP earnings per share (EPS) of $1.62, beating analysts' estimates by 21.8%. However, revenue of $607 million remained flat year-over-year (YoY), leading to a 10% decline in shares following the announcement. The company attributed the revenue miss to macroeconomic uncertainties and slower project deployments [2].

Key highlights from the earnings report include:
- Revenue: $607 million, flat YoY.
- Non-GAAP EPS: $1.62, up from $1.21 in the previous year.
- Free Cash Flow: $91 million, a record high.
- Gross Margin: 36.9%, an all-time high.
- Full-Year Outlook: Revenue is expected to decline by 3%, while non-GAAP EPS is projected to increase by 9%.

Despite the revenue miss, Itron's strong operational efficiency and focus on high-value solutions contributed to the improved EPS. The company's GridEdge Intelligence platform continues to see strong demand, with over 15.3 million distributed intelligence endpoints shipped in Q2 2025 [2].

However, Itron faces several challenges, including regulatory approval delays, macroeconomic uncertainties, and supply chain issues. The company remains optimistic about long-term growth prospects, with a full-year revenue outlook of $2.350 to $2.400 billion and a non-GAAP EPS outlook of $6.00 to $6.20 [2].

References:
[1] https://www.marketscreener.com/news/itron-inc-reports-earnings-results-for-the-second-quarter-and-six-months-ended-june-30-2025-ce7c5fdddf8cf32d
[2] https://www.investing.com/news/transcripts/earnings-call-transcript-itron-q2-2025-beats-eps-estimates-stock-declines-93CH-4164114