Itron Inc. Reports Strong 2024 Financial Performance

Itron Inc ( (ITRI) ) has released its Q4 earnings. Here is a breakdown of the information Itron Inc presented to its investors.

Itron Inc. is a global leader in energy, water, smart city, and intelligent infrastructure services, providing innovative systems and solutions to improve resource management and conservation. The company recently announced its financial results for the fourth quarter and full year of 2024, showcasing significant growth in revenue and profitability.

Itron reported a 6% increase in fourth-quarter revenue to $613 million and a 12% rise in full-year revenue to $2.4 billion. The company’s gross profit also saw an increase, with a 9% rise in the fourth quarter and an 18% increase for the full year. Net income attributable to Itron rose by $14 million in the fourth quarter and $142 million for the full year, reflecting strong operational performance and customer demand.

Key financial highlights include a 19% increase in adjusted EBITDA for the fourth quarter and a 43% rise for the full year. The company’s free cash flow also improved significantly, with a $31 million increase in the fourth quarter and a $110 million rise for the full year. Itron’s Outcomes segment revenue and total backlog reached record levels, indicating robust future business prospects.

Looking forward, Itron’s management remains optimistic about the company’s growth trajectory, with a substantial pipeline of opportunities driven by the challenges faced by its customers in managing energy and water resources. The company aims to continue driving customer success and navigating the evolving infrastructure landscape.