What guidance did Itron's management provide for the next earnings period?

What is Itron's gross profit margin?

What is the revenue and EPS growth rate for Itron year over year?

What were the key takeaways from Itron's earnings call?

What does Itron do and what are its main business segments?

What is the market's earnings forecast for Itron next quarter?

What is Itron's latest dividend and current dividend yield?

Did Itron beat or miss consensus estimates last quarter?

- **Record Q3 financials**: $582M revenue, $113M free cash flow, and 37.7% gross margin (all-time highs). 
- **Challenges in execution**: Network Solutions revenue down 6% YoY due to delayed deployments, though pipeline up 25% YTD. 
- **Outcomes segment strength**: Recurring revenue grew 11% YoY, with bookings up 36% YoY. 
- **Strategic move**: $325M acquisition of Urbint to expand SaaS offerings for operational resilience. 
- **2027 confidence**: Management maintains long-term targets despite near-term booking lags.

**【CEO Summary】**
- **Record financial performance**: Q3 revenue of $582M, adjusted EBITDA of $97M, and free cash flow of $113M (new record). Backlog reached $4.3B, with 16M deployed grid-edge intelligence endpoints.
- **Challenges in project timing**: Bookings of $380M fell short of expectations due to slower deployments, though the pipeline expanded 25% YTD. Outcomes segment (recurring revenue) grew 11% YoY, with bookings up 36% YoY.
- **Strategic acquisition**: Announced all-cash acquisition of Urbint for $325M, a SaaS platform for operational resilience, expected to close in Q4.

**【CFO Financial Commentary】**
- **Q3 financial highlights**: GAAP net income $66M ($1.41 EPS), Non-GAAP EPS $1.54 (vs. $1.84 YoY). Free cash flow $113M (19.5% of revenue), up from $59M YoY. Gross margin 37.7% (record high, +360bps YoY).
- **Segment performance**: 
  - *Device Solutions*: Revenue $104M, operating margin 24% (up 240bps YoY). 
  - *Network Solutions*: Revenue $394M, operating margin 31% (up 330bps YoY). 
  - *Outcomes*: Revenue $84M, operating margin 19.9% (up 520bps YoY).
- **Q4 Outlook**: Revenue $555-565M (midpoint -9% YoY), Non-GAAP EPS $2.15-2.25 (tax benefit of $0.84/ share). Full-year 2025 guidance: Revenue $2.35-2.36B, Non-GAAP EPS $6.84-6.94.

**【Q&A Highlights】**
- **Revenue decline explanation**: Network Solutions down 6% YoY due to delayed deployments, not demand destruction. Customers are spreading hardware projects over longer timelines (e.g., 3-year to 4-year deployments) amid regulatory scrutiny.
- **Pipeline confidence**: Despite slower bookings, win rates remain strong. Outcomes backlog (software/services) now >20% of total backlog, up 36% YoY.
- **Urbint synergies**: 80% customer overlap with Itron. Combining Itron's grid data with Urbint's AI for emergency response will create new SaaS opportunities.
- **2027 targets**: Management reaffirms confidence in achieving 2027 goals, with margin expansion outpacing revenue growth.


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