Itron Inc - ITRI STOCK NEWS

Itron, Inc. (NASDAQ: ITRI) announced a partnership with Abbanoa S.p.A, Sardinia's main water distributor, to deploy Itron's Intelis wSource smart water meters. This contract aims to reduce water waste and promote sustainable use. The advanced ultrasonic meters will enable remote readings, allowing for efficient leak detection and data collection. Maurizio Zannol, Abbanoa’s sector head, emphasized the technology's role in improving service quality by increasing reading efficiency from 200 to 2,500 per day. Itron's meters are MID-certified for enhanced accuracy, crucial for reliable resource management.

Itron, Inc. (NASDAQ: ITRI) has signed a contract with Duquesne Light Company to modernize its infrastructure using Itron's smart street lighting solution. The project will deploy approximately 60,000 mesh-enabled streetlight nodes, allowing for secure monitoring and control. The initiative aims to enhance energy efficiency and operational performance, with features like real-time alerts for lamp failures and power supply issues. This collaboration supports Itron's mission to enable smart city applications and improve community services. The smart lighting solution is expected to provide a foundation for future Industrial Internet of Things (IIoT) applications.

Itron, Inc. (NASDAQ: ITRI) announced a collaboration with ComEd, Peoples Gas, and North Shore Gas to enhance sustainability in Illinois. This partnership leverages ComEd’s advanced metering infrastructure (AMI) for smart technology to improve natural gas meter reading and reduce carbon emissions. The initiative eliminates over 580,000 driving miles and 626 tons of carbon emissions annually, saving an estimated $5.5 million per year. Itron's AMI project, launched in 2022, aims to modernize 1 million endpoints, enhancing operational efficiency and customer satisfaction in the Chicago area.

Itron, Inc. (NASDAQ: ITRI) has entered into a contract with PT. Megalopolis Manunggal Industrial Development (PT. MMID) to implement Temetra, a state-of-the-art meter data collection and management platform, for enhanced operational efficiency in Indonesia's MM2100 Industrial Town. This initiative aims to optimize water meter usage data collection, thereby reducing billing errors and promoting resource conservation as Indonesia progresses towards Industry 4.0. The platform's analytics capabilities will also help identify and address unusual water anomalies. The collaboration signifies Itron's commitment to advancing smart resource management.

Itron, Inc. (NASDAQ: ITRI) has introduced its Fiber Mini Access Point (Fiber MiniAP™), designed to enhance connectivity for smart meters and devices via existing fiber assets. This innovation aims to support rural electric cooperatives by extending IIoT network coverage and aiding in grid modernization. The Fiber MiniAP reduces infrastructure costs while enabling advanced applications like electric vehicle management and distributed energy resources. Scheduled for testing with cooperative utilities, this solution is set for commercial release in North America in the first half of 2024.

Itron, Inc. (NASDAQ:ITRI) reported its Q4 and full-year 2022 results, revealing quarterly revenue of $467 million and annual revenue of $1.8 billion. The company recorded a gross margin of 30.1% in Q4 and 29.1% for the full year. Q4 GAAP net income reached $22 million ($0.49 per diluted share), improving from a loss of $(59) million last year. However, full-year results showed a net loss of $(10) million per share at $(0.22). Itron's backlog hit a record $4.6 billion. For 2023, the company forecasts revenue between $1.85 and $1.95 billion and non-GAAP EPS of $0.70 to $1.10.

Itron, Inc. (NASDAQ: ITRI) has been named a Visionary in the 2023 Gartner Magic Quadrant for Managed IoT Connectivity Services, recognized for its ability to execute and completeness of vision.

The report highlights Itron's management of over 86 million endpoints, emphasizing its flexible platform that optimizes performance and cost. As utilities face increasing challenges from renewable energy and water scarcity, Itron's solutions are positioned to enhance efficiency across global markets, leveraging advanced technologies such as RF mesh and LTE.

Itron (NASDAQ: ITRI) has partnered with Sense to enhance home energy management through real-time analytics. The Sense Home Analytics application will utilize Itron’s distributed intelligence (DI) platform, enabling better energy usage insights for consumers and utilities. This collaboration aims to improve grid resiliency and transform utility-consumer relationships by providing predictive insights into energy consumption. With over 5 million DI-enabled meters already shipped, the Sense application will be accessible via the Itron Enterprise Application Center by the end of Q3 2023. This partnership emphasizes reducing carbon emissions and optimizing energy management.

Itron, Inc. (NASDAQ: ITRI) is enhancing its partnership with Smart Energy Water (SEW) to transform utility-consumer relationships. This initiative aims to optimize the use of advanced metering infrastructure (AMI) and distributed intelligence (DI) data through better data sharing, empowering both utilities and consumers. The collaboration encompasses Itron's DataHub, a secure cloud platform that simplifies data access for authorized third parties. The new approach allows real-time data sharing, enabling utilities and consumers to unlock new services and revenue streams, promoting a seamless integration of distributed energy resources (DERs) into the grid.