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.
Itron Inc. (NASDAQ: ITRI) is a leading technology company that enables utilities and cities to safely, securely, and reliably deliver critical infrastructure services. Itron operates globally, serving communities in over 100 countries, and offers a comprehensive portfolio that includes smart networks, software, services, meters, and sensors.
The company manages and reports through three primary operating segments:
- Device Solutions: This segment includes hardware products used for measurement, control, or sensing. These devices do not have embedded communication capabilities, making them essential standalone tools within the broader Itron systems.
- Networked Solutions: This segment provides integrated solutions combining communicating devices, network infrastructure, and application software. These products are designed and sold as complete systems, offering robust capabilities for monitoring and managing energy and water resources.
- Outcomes: This segment delivers value-added software and services that enhance decision-making and operational efficiency. The solutions offered in this segment help utilities and cities analyze and interpret data to optimize their operations and profitability.
Recently, Itron has been focusing on innovative projects such as the Pipe Asset Management Software, which helps utilities make informed decisions about the replacement and maintenance of water pipes. By leveraging data from various sources including GIS, historical failure data, and advanced metering infrastructure, this tool uses AI to identify pipes that are at risk of failure. The software also supports lead pipe inventory replacement, ensuring the safe delivery of drinking water.
With its commitment to innovation and sustainability, Itron aims to improve the quality of life by safeguarding natural resources and enhancing the efficiency of critical infrastructure services. For more information, visit their official website at www.itron.com.
Itron, Inc. (NASDAQ:ITRI) reported first quarter 2021 results, showing a 13% decline in revenue to $520 million compared to $598 million in 2020. Gross margin improved to 32.2% from 28.7%, and GAAP net income rose to $13 million or $0.30 EPS, up from $9 million or $0.21 EPS a year earlier. Non-GAAP diluted EPS declined to $0.52 from $0.57. Free cash flow significantly increased to $39 million from $6 million. The total backlog rose to $3.4 billion.
Itron, Inc. (NASDAQ: ITRI) CEO Tom Deitrich has been appointed to the GridWise Alliance's new Grid Infrastructure Advisory Council (GIAC). This 29-member council aims to enhance U.S. electric grid investment, significantly backed by a $50 billion federal push for modernization. Deitrich, with over 20 years of global operations experience, emphasizes the necessity of investing in the grid to tackle challenges posed by renewable energy and aging infrastructure. Itron has been a GWA member since its inception in 2003, contributing to efforts for a resilient and reliable electric grid.
Itron, Inc. (NASDAQ: ITRI) will announce its financial results for Q1 2021 on May 3, 2021, before market opening. The results will be available on its website at 8:30 a.m. EDT, followed by a management conference call at 10 a.m. EDT. Interested parties can participate in the live webcast and should access it 10 minutes early for setup. A telephone replay will be available until May 8, 2021. Itron specializes in delivering infrastructure solutions for utilities and cities globally, focused on resource management.
Itron (NASDAQ: ITRI) has partnered with Consolidated Edison to deploy 4 million smart gas modules and electricity meters in New York as part of their Advanced Metering Infrastructure project. Additionally, 25,000 methane detectors have been installed, successfully identifying over 300 gas events. This initiative leverages Itron's Industrial IoT platform to enhance outage detection, lower energy consumption, and minimize greenhouse gas emissions through efficient grid operations. Itron aims to bolster Con Edison’s operational capabilities and customer service.
Itron (NASDAQ: ITRI) has been recognized as a Visionary in the March 2021 Gartner Magic Quadrant for Managed IoT Connectivity Services. This recognition highlights Itron's role in providing robust IoT solutions that support utilities and cities in managing energy and water. The company emphasizes its capabilities in data management, intelligent analytics, and control systems for advanced utility and smart city applications. Itron's IIoT platform enables enhanced customer services, reduced costs, and improved engagement through a reliable connectivity network.
Itron, Inc. (NASDAQ: ITRI) has launched the eHZ-B residential smart meter for utilities and cities in Germany, which is part of its 3.HZ FNN-compliant portfolio. This advanced smart meter supports Germany's energy transition, ensuring safe migration to a connected distribution network. The eHZ-B is designed for interoperability and features next-gen encryption for secure data transmission. Available now, the product aims to enhance the management of distribution networks and contribute to the sustainability of energy sources in partnership with regional utilities.
Itron (NASDAQ: ITRI) will host the Itron Utility Week (IUW) virtually for Asia-Pacific (APAC) leaders on April 21-22, 2021. This event focuses on sharing insights and solutions to challenges faced by utilities and cities amid the COVID-19 pandemic. Itron aims to enhance collaboration and innovation amongst industry experts, featuring keynotes, breakout sessions, and a product showcase. The event is free and will include on-demand content available until May 21. For further details, visit www.itron.com/iuwapac.
Itron, Inc. (NASDAQ: ITRI) has expanded its Itron Engage Sales Channel Partner Program to Europe, the Middle East, and Africa (EMEA). This initiative aims to provide partners with enhanced tools, training, and support to promote Itron's technology in their markets. The program fosters an interconnected partner community and rewards performance across Itron's portfolio. Current partners can access resources via the Partner Center, while new partners can enroll online. Itron's executives express enthusiasm about this launch, emphasizing its potential to drive collective success in delivering smart solutions.
Itron, Inc. (NASDAQ: ITRI) has signed a contract to deploy its intelligent cloud-based mobile meter management solution, Temetra, for Dŵr Cymru Welsh Water. This initiative aims to enhance water data management and automate meter reading for the utility, which serves 3 million customers and manages 750,000 meters across Wales. Temetra will enable both automated and manual data collection, real-time data upload, and improved security through cloud storage. Itron's senior VP emphasized a commitment to modern water solutions to optimize operations and enhance customer engagement.
Itron (NASDAQ: ITRI) announced a private offering of $400 million in convertible senior notes due 2026, with an option for an additional $60 million. The notes will not accrue interest and will convert at a price of $126 per share, reflecting a 40% premium over its concurrent public stock offering priced at $90 per share. The offering is expected to close on March 12, 2021. Proceeds will fund convertible note hedge transactions and redeem outstanding senior notes. The company also plans to use net proceeds to manage potential dilution from the notes.
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