The earnings call highlighted strong profitability and operational achievements, including record margins and strategic wins. However, the company is facing revenue challenges due to macroeconomic uncertainties and slower project deployments, leading to a revised revenue outlook.

Company Guidance

During Itron's Second Quarter 2025 Earnings Conference Call, the company reported solid financial results despite ongoing macroeconomic and trade policy uncertainties. Key metrics included revenue of $607 million, adjusted EBITDA of $90 million, non-GAAP earnings per share of $1.62, and free cash flow of $91 million. Itron set new quarterly records for margins, profitability, and cash flow, with gross margins reaching an all-time high of 36.9%. The company shipped over 15.3 million distributed intelligence endpoints by the end of the quarter, up from 14.4 million in Q1. Despite challenges leading to slower project deployments, Itron raised its full-year EPS outlook midpoint by 13% while lowering its full-year revenue outlook midpoint by approximately 3%. The company remains confident in its long-term growth prospects, maintaining a full-year book-to-bill ratio of 1:1 or higher and increasing its non-GAAP EPS outlook range for 2025 to $6.00-$6.20 per diluted share.

Record Quarterly Margins and Profitability

Itron set new quarterly records for margins, profitability, and cash flow, with a gross margin of 36.9%, adjusted EBITDA of $90 million, and non-GAAP operating income increasing 19% year-over-year.

Strong Performance in Outcomes Segment

The Outcomes segment demonstrated a 9% year-over-year revenue increase due to continued growth of recurring revenue and software licenses.

Significant Non-GAAP EPS Growth

Non-GAAP earnings per share for Q2 was $1.62, up from $1.21 year-over-year, with a 13% increase in the full-year EPS outlook.

Bookings and Strategic Wins

Q2 bookings reached $454 million, with notable wins including a partnership with Greece's HEDNO and a large-scale water conservation initiative in Tucson, Arizona.

Improved Free Cash Flow

Free cash flow reached a new record of $91 million, compared to $45 million the previous year.

Itron (ITRI) Earnings, Revenues Date & History

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ITRI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	1.48 / -	1.84	―	―	―
Jul 31, 2025	2025 (Q2)	1.36 / 1.62	1.21	33.88% (+0.41)
May 01, 2025	2025 (Q1)	1.32 / 1.52	1.24	22.58% (+0.28)
Feb 25, 2025	2024 (Q4)	1.06 / 1.35	1.23	9.76% (+0.12)
Oct 31, 2024	2024 (Q3)	1.13 / 1.84	0.98	87.76% (+0.86)
Aug 01, 2024	2024 (Q2)	0.96 / 1.21	0.65	86.15% (+0.56)
May 02, 2024	2024 (Q1)	0.84 / 1.24	0.49	153.06% (+0.75)
Feb 26, 2024	2023 (Q4)	0.75 / 1.23	0.71	73.24% (+0.52)
Nov 02, 2023	2023 (Q3)	0.51 / 0.98	0.23	326.09% (+0.75)
Aug 03, 2023	2023 (Q2)	0.31 / 0.65	0.07	828.57% (+0.58)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ITRI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$138.42	$124.54	-10.03%
May 01, 2025	$111.29	$108.05	-2.91%
Feb 25, 2025	$92.60	$101.81	+9.95%
Oct 31, 2024	$103.86	$111.76	+7.61%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.