Itron, Inc. reported second-quarter 2026 results with revenue of $562.9M, net income of $53.27M and diluted earnings per share of $1.19, compared with $606.76M, $68.34M and $1.47, respectively, in the year-ago quarter.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$562.9M$606.76M(7.2%) | Net income²$53.27M$68.34M(22%) | Diluted EPS³$1.19$1.47(19%) |
¹ Reported as “Total revenues”. ² Reported as “Net income attributable to Itron, Inc.”. ³ Reported as “income per common share - Diluted”.
Business Highlights
- Revenue declined about 7% year over year for the quarter and roughly 5% year-to-date as product sales fell while services grew, indicating a shift toward recurring revenue.
- Timing of Networked Solutions deployments reduced hardware bookings, while Outcomes and managed services expanded.
- Launched Resiliency Solutions in Q4 2025; the offering contributed meaningful ARR and strong gross margins from managed services.
- Overall gross margin improved to 41.0%, driven by favorable mix and operational efficiencies.
- Annual recurring revenue rose to $417M in Q2 2026, reflecting emphasis on subscriptions, maintenance and managed services.
Original SEC Filing:
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