Itron Inc - ITRI STOCK NEWS

Itron has launched its innovative Electric Vehicle (EV) Charging Optimizer, a first-of-its-kind solution aimed at enhancing EV charging management and grid integration. The cloud-based platform is charger and vehicle agnostic, designed for utilities and EV operators globally, and is particularly focused on fleet management. The solution can result in over 35% savings on energy costs for customers and more than 20% savings for utilities. Early deployments with major utilities have commenced, and Itron collaborates with various technology partners to optimize charging and grid performance.

Itron, Inc. has announced the integration of NET2GRID's AI-driven customer engagement solution into its Distributed Intelligence ecosystem. This application enhances energy consumption insight for consumers and utilities by disaggregating data from smart meters. NET2GRID aims to provide accurate residential load disaggregation and demand predictions, helping users understand their energy usage. This collaboration marks a significant step in Itron's initiative to support utilities' transformation and sustainability goals by leveraging advanced data analytics for improved energy management.

Itron, Inc. (NASDAQ: ITRI) has announced that its Intelis smart gas meter has received type approval from Measurement Canada. This makes it the first ultrasonic gas meter with an internal shutoff valve approved in Canada, allowing utilities to enhance safety and operational efficiency in gas delivery. The meter features automatic shutoff capabilities during high flow or temperature incidents, minimizing explosion risks. With millions contracted in North America, this approval positions Itron to significantly improve gas management and safety.

Itron, Inc. (NASDAQ: ITRI) announced it will release its financial results for Q4 and full year ending Dec. 31, 2021 on Feb. 28, 2022, before market opening. The financial statements will be accessible on its website at investors.itron.com at 8:30 a.m. EST. Following this, a management conference call is scheduled for 10 a.m. EST. Interested parties can listen via a live webcast. A telephone replay of the call will be available through Mar. 5, 2022, by dialing 888-203-1112 or 719-457-0820 with passcode 5471582.

Itron has secured a contract with ESB Networks to deploy its Temetra meter data management solution, targeting the operational efficiency of Ireland's energy distribution network. This initiative forms part of ESB Networks' Smart Metering Programme, aimed at reading 1.75 million electric meters in Ireland by utilizing a modern, cloud-based interface. By enhancing visibility and data management, the deployment is expected to foster cleaner and more reliable electricity for customers, aligning with Ireland's National Climate Action Plan.

Itron, Inc. (NASDAQ: ITRI) has secured a contract with Sarawak Energy to deploy 180,000 Advanced Metering Infrastructure (AMI) endpoints in Sarawak, Malaysia. This initiative, under a 15-year agreement, enhances operational efficiency and consumer engagement through Itron's industrial IoT solution, including Network-as-a-Service (NaaS) for managing the communications network. Following a successful pilot in 2018, this expanded deployment aims to improve customer service and operational safety.

Itron (NASDAQ: ITRI) is partnering with EQUANS to implement an intelligent street lighting solution for Sibelga in Brussels, Belgium. This initiative aims to achieve a 20% reduction in electricity consumption by 2035, equal to approximately 600 car trips around the globe each year. The project includes 10 years of communication management and will enhance safety and customer satisfaction. The installation is expected to complete by the end of 2021.

Itron, Inc. has launched Itron Smart Pay in North America, a Software as a Service (SaaS) solution enabling utilities to offer flexible billing and payment options to customers. With over 20 million prepay endpoints globally, this initiative aims to enhance customer engagement and satisfaction by allowing real-time energy consumption tracking. The solution, in partnership with PayGo, leverages advanced technology for efficient debt recovery and improved user experience. This program is timely, supporting customers affected by the COVID-19 pandemic.

Itron reported a revenue of $487 million for Q3 2021, down 10% from the previous year due to component constraints. However, gross margin improved to 27.7%, up 120 basis points. The net loss shrank to $(2) million from $(25) million in 2020, with a loss per share of $(0.04). Non-GAAP diluted EPS was $0.21, down from $0.61. Itron's total backlog grew to $3.4 billion. Additionally, a new share repurchase program of up to $100 million was authorized. The company’s strategy includes the acquisition of SELC and a restructuring project following the sale of certain business segments.