Itron Inc - ITRI STOCK NEWS

Itron, Inc. (NASDAQ: ITRI) announced the upcoming Itron Inspire APAC 2022, a virtual customer event scheduled for July 26-27, 2022. The event aims to unite utilities, cities, and industry leaders to discuss trends, share insights, and address challenges within the energy and water management sector. Featuring keynotes, breakout sessions, and a product showcase, the event will be available at no charge. Content will remain accessible on-demand until August 24, 2022.

Itron, Inc. (NASDAQ: ITRI) announces its flagship event, Itron Inspire 2022, set for Sept. 23-30, 2022, at the JW Marriott Island Beach Resort in Marco Island, FL. This customer-focused conference aims to connect industry experts in energy, water, IIoT, and smart city communities, offering in-person and livestreamed sessions. The agenda includes training, keynotes, and networking opportunities. Registration is currently open, with further details to be released closer to the event.

Itron, Inc. (NASDAQ: ITRI) announced the delivery of its 4 millionth Distributed Intelligence (DI)-enabled smart electric meter to Texas-New Mexico Power (TNMP), contributing to TNMP's Advanced Metering Infrastructure (AMI) goals. With over 4.2 million DI meters shipped globally, TNMP has completed over 75% of its deployment as of June 2022. This transition enhances operational efficiency, grid safety, and compliance with Texas regulations. Itron’s solutions facilitate advanced analytics at the grid edge, improving service reliability for more than 260,000 customers in Texas.

Itron, Inc. (NASDAQ: ITRI) has released its 2021 Environmental Social Governance (ESG) Report, highlighting its commitment to sustainability through innovative solutions for energy and water management. Key goals include a 50% reduction in greenhouse gas emissions by 2028, achieving carbon-neutral operations by 2035, and net zero by 2050. Itron's automated metering infrastructure has already helped avoid over 3.5 million metric tons of greenhouse gas emissions. The report emphasizes Itron's dedication to environmental stewardship, community involvement, and advancing inclusion within the company.

Itron is expanding its collaboration with Microsoft to enhance cloud adoption and innovative solutions for utilities and smart cities. This partnership aims to address critical challenges in the energy sector, including greenhouse gas emissions and operational efficiency. By leveraging edge compute and high-fidelity data, the collaboration will facilitate the transition towards net zero goals and improved customer engagement. Key use cases include outage management and carbon tracking, with a focus on delivering integrated solutions that enhance grid resilience and operational insights.

Itron (NASDAQ: ITRI) announced an expanded collaboration with PayGo, integrating its billing and payment solution into Itron's distributed intelligence (DI) platform. This partnership allows consumers to track real-time energy usage via Itron's Riva meters, enhancing payment flexibility. Through Itron Smart Pay, users receive alerts for low balances, potentially reducing energy bills by up to 12% and improving utility customer satisfaction by 10 points. The new features will be showcased at DISTRIBUTECH from May 23-25.

Itron, Inc. (NASDAQ: ITRI) has partnered with Yokogawa India Ltd. to implement its Water Operations Management solution in Satna, Madhya Pradesh, as part of the Satna Smart City project. This five-year agreement aims to decrease non-revenue water losses by optimizing water management across 200 km of water supply networks. The solution facilitates leak detection and enhances operational visibility in the city’s water distribution network, aligning with India's Smart Cities Mission and supporting Satna's vision of becoming a resource-efficient urban hub.

Itron, Inc. (NASDAQ:ITRI) reported a 9% decrease in revenue for Q1 2022, totaling $475 million, down from $520 million in Q1 2021. The gross margin declined to 28.4% from 32.2%, driven by rising component costs and manufacturing inefficiencies. GAAP net income fell to $1 million or $0.02 EPS, compared to $13 million or $0.30 EPS in the prior year. Free cash flow also dropped to $2 million from $39 million. Despite these challenges, total backlog increased to $3.9 billion.

Itron, Inc. (NASDAQ: ITRI) will announce its financial results for Q1 2022 on May 2, 2022, before market opening. The results will be available on their website at investors.itron.com. Following the release, a management conference call will be held at 10 a.m. EDT to discuss the results. Interested participants can access the live webcast and a supplemental presentation via the company's events page. A telephone replay will be available until May 7, 2022, using passcode 3063181.