Itron's Q1 2025 Earnings Call: Navigating Tariff Impacts, Growth Trajectories, and M&A Strategies
Earnings DecryptTuesday, May 6, 2025 7:34 pm ET

Tariff impact and mitigation efforts, outcomes segment growth and margins, M&A strategy and cash deployment are the key contradictions discussed in Itron's latest 2025Q1 earnings call.
Revenue and Earnings Growth:
- Itron reported revenue of $607 million for Q1 2025, with adjusted EBITDA of $88 million and non-GAAP earnings per share of $1.52.
- Growth was driven by favorable product mix, disciplined manufacturing, and meeting customer core needs for robust solutions.
Backlog and Bookings:
- The company's backlog stood at $4.7 billion, with bookings of $530 million for Q1, equating to a book-to-bill ratio of 0.9:1.
- This increase, compared to last year's bookings of $361 million, reflects strong customer adoption of Itron's grid edge intelligence platform and deployment of distributed intelligence solutions.
Segment Performance:
- Device Solutions segment reported revenue of $126 million with a record gross margin of 30% and operating margin of 24.2%.
- Improvement in margins was attributed to favorable product mix, shifting towards smart water sales, and lower operating expenses.
Tariff Impact:
- The estimated EBITDA impact for the year under the current tariff protocol is $15 million, net of mitigation measures like alternate sourcing and pricing adjustments.
- Despite the tariff environment's fluidity, the regional supply strategy and regional manufacturing have balanced the impact on Itron's bottom line.
ITRI Total Revenue YoY, Total Revenue
Revenue and Earnings Growth:
- Itron reported revenue of $607 million for Q1 2025, with adjusted EBITDA of $88 million and non-GAAP earnings per share of $1.52.
- Growth was driven by favorable product mix, disciplined manufacturing, and meeting customer core needs for robust solutions.
Backlog and Bookings:
- The company's backlog stood at $4.7 billion, with bookings of $530 million for Q1, equating to a book-to-bill ratio of 0.9:1.
- This increase, compared to last year's bookings of $361 million, reflects strong customer adoption of Itron's grid edge intelligence platform and deployment of distributed intelligence solutions.
Segment Performance:
- Device Solutions segment reported revenue of $126 million with a record gross margin of 30% and operating margin of 24.2%.
- Improvement in margins was attributed to favorable product mix, shifting towards smart water sales, and lower operating expenses.
Tariff Impact:
- The estimated EBITDA impact for the year under the current tariff protocol is $15 million, net of mitigation measures like alternate sourcing and pricing adjustments.
- Despite the tariff environment's fluidity, the regional supply strategy and regional manufacturing have balanced the impact on Itron's bottom line.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
Comments
No comments yet