Welcome to our dedicated page for Itron news (Ticker: $ITRI), a resource for investors and traders seeking the latest updates and insights on Itron stock.
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Itron, Inc. (NASDAQ: ITRI) reported strong first-quarter financial results for 2024. Revenue increased by 22% to $603 million, with a gross profit of $205 million, GAAP net income of $52 million, and GAAP diluted EPS of $1.12. Non-GAAP diluted EPS was $1.24, adjusted EBITDA was $76 million, and free cash flow was $34 million. The company highlighted growth in all segments, especially in Networked Solutions and Device Solutions, resulting in a positive outlook for the future.
Itron, Inc. enhances its Temetra® platform in Australia and New Zealand by adding NB-IoT communications, enabling water utilities to streamline operations and maximize business value. The platform provides comprehensive meter data processing, analytics, and validation, allowing utilities to remotely read water meters, reduce costs, and prioritize maintenance. Temetra supports various communication protocols, providing utilities with interoperability and flexibility for digital transformation.
Itron, Inc. (NASDAQ: ITRI) is teaming up with Cairns Regional Council in Australia to implement Itron’s intelligent connectivity and analytic solution to modernize the water distribution system. The initiative includes deploying Intelis® wSource NB-IoT water meters and Itron’s unified Temetra® NB-IoT digital platform over the next three years as part of the Council’s water security plan. The collaboration focuses on harnessing technology to identify water leaks, improve customer experience, extend meter life, and reduce costs. This project builds upon a previous phase of the smart water network project, demonstrating Itron's advanced solutions in addressing operational challenges related to water.