Business
Itron Announces Third Quarter 2025 Financial Results
LIBERTY LAKE, Wash., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water,
About this update from Itron, Inc.
[{"type":"text","content":"LIBERTY LAKE, Wash., Oct. 30, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced today financial results for its third quarter ended September 30, 2025. Key results for the quarter include (compared with the third quarter of 2024): Revenue of $582 million, decreased 5%;GAAP net income attributable to Itron, Inc. of $66 million, decreased $12 million;GAAP diluted earnings per share of $1.41, decreased $0.29 per share;Non-GAAP diluted EPS of $1.54, decreased $0.30 per share;Adjusted EBITDA of $97 million, increased 10%; andFree cash flow of $113 million, increased $55 million. \"Itron delivered third quarter results with record margin, profitability, and cash flow,\" said Tom Deitrich, Itron’s president and CEO. \"Our customers are confronting a dramatic increase in complexity and uncertainty, and as reflected in our results, they are actively deploying advanced technology to address these challenges. Itron’s Grid Edge Intelligence solutions are designed to solve dynamic problems in a rapidly changing world. Increased infrastructure agility enables utilities and municipalities to provide improved quality of service and safety.\" Summary of Third Quarter Consolidated Financial Results(All comparisons made are against the prior year period unless otherwise noted) RevenueTotal third quarter revenue of $582 million compared to $615 million in the prior year. The decrease was driven primarily by portfolio optimization and the timing of project deployments. Device Solutions revenue decreased 16%, or 19% in constant currency, due to lower legacy electricity product sales related to portfolio optimization in EMEA and lower North American water volumes. Networked Solutions revenue decreased 6% due to the timing of project deployments. Outcomes revenue increased 11%, or 10% in constant currency, due to increased recurring revenue. Gross MarginItron's third quarter gross margin of 37.7% increased 360 basis points from the prior year due to customer and product mix. Operating Expenses and Operating IncomeGAAP operating expenses of $138 million increased $2 million from the prior year. Non-GAAP operating expenses of $130 million were unchanged from the prior year. GAAP operating income of $82 million was $8 million higher than the prior year and non-GAAP oper...