Itron Expects Q3 Result To Slip, Revises Annual Guidance; Stock Down Over 3%

(RTTNews) - Itron, Inc. (ITRI), a provider of products and services for energy and water resource management, on Thursday announced that it expects its third-quarter result to decline.  

For the third quarter, the company expects adjusted income per share of $1.45 and $1.55. On average, the 7 analysts polled forecast the company to register income of $1.29 per share for the third quarter. Analysts' estimates typically exclude special items.

For the third quarter of fiscal 2024, the firm had posted adjusted income of $1.84 per share.

For the third quarter, Itron anticipates revenue of $570 million to $585 million, below Street view of $621.74 million.

For the third quarter of fiscal 2024, the company had posted revenue of $615 million.

For fiscal 2025, Itron now projects adjusted income of $6 to $6.20 per share against the earlier outlook of $5.20 to $5.60 per share. The company now anticipates annual revenue of $2.35 billion to $2.4 billion against the previous guidance of $2.4 billion to $2.5 billion.

Analysts, on average, project the company to earn $5.44 per share on revenue of $2.46 billion for the full year.

ITRI was down by 3.50% at $133.57 on the Nasdaq.