Itron Inc (NAS:ITRI)
$ 103.61 -3.27 (-3.06%) Market Cap: 4.67 Bil Enterprise Value: 4.98 Bil PE Ratio: 21.23 PB Ratio: 3.46 GF Score: 69/100
Back to the Transcripts List

Q2 2024 Itron Inc Earnings Call Transcript

Aug 01, 2024 / 02:00PM GMT
Release Date Price: $108.09 (+4.50%)

Key Points

Positve
  • Itron Inc (ITRI) reported a 13% year-over-year revenue growth, marking the seventh consecutive quarter of growth.
  • Record quarterly revenue was achieved in the Network Solutions and Outcomes segments.
  • Gross margin improved by 250 basis points to 34.6% due to favorable product mix and operational efficiencies.
  • Non-GAAP operating income increased by 67% year-over-year, and adjusted EBITDA grew by 56%.
  • The company raised its full-year 2024 revenue guidance, reflecting strong customer demand and operational execution.
Negative
  • The book-to-bill ratio for the second quarter was below the full-year target of one to one.
  • Outcomes segment margins were negatively impacted by a lower margin revenue mix and increased services costs.
  • The timing of bookings is skewed to the latter part of the year, potentially impacting 2025 revenue.
  • Higher tax expenses had a negative year-over-year impact on earnings per share.
  • The company still has 30% of its backlog with pre-inflation pricing, which could affect future margins.
Operator

Good day. Thank you for standing by. Welcome to Itron's second quarter 2024 earnings conference call. (Operator Instructions) Please note that today's conference is being recorded.

I will now hand the conference over to your speaker host, Paul Vincent, Vice President of Investor Relations. Please go ahead.

Paul Vincent
Itron Inc - Vice President, Investor Relations

Good morning, and welcome to Itron's second quarter 2024 earnings conference call, Tom Deitrich, Itron's President and Chief Executive Officer; and Joan Hooper, Senior Vice President and Chief Financial Officer, will review Itron's second quarter results and provide a general business update and outlook. Earlier today, the company issued a press release announcing its results. This release also includes details related to the conference call and webcast replay information.

Accompanying today's call is a presentation that is available through the webcast and on our corporate website under the Investor Relations tab. Following prepared remarks, the call will open for questions using

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2025 GuruFocus.com, LLC. All Rights Reserved.