Latest news with #TomDeitrich
Yahoo
18-06-2025
- Business
- Yahoo
Itron Announces Participation at Upcoming Investor Conference
LIBERTY LAKE, Wash., June 18, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that it will participate in the J.P. Morgan 2025 Energy, Power, Renewables & Mining Conference on Wed., June 25, 2025, in New York City. Tom Deitrich, Itron's president and CEO, will participate in a fireside chat and investor meetings. About Itron Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: Itron® and the Itron logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. For additional information, contact: Itron, Inc. Paul VincentVice President, Investor Relations512-560-1172 David MeansDirector, Investor Relations737-242-8448Investors@ Additional Resources LinkedIn: X: Newsroom: Blog:
Yahoo
10-06-2025
- Business
- Yahoo
Itron Publishes 2024 Corporate Sustainability Report
Advances Emissions Goals, Completes Double Materiality Assessment and Highlights Positive Customer Impact LIBERTY LAKE, Wash., June 10, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, today released its 2024 Corporate Sustainability Report. The report details Itron's environmental, social and governance (ESG) strategy and highlights how the company is empowering cities and utilities to boost efficiency, reduce emissions and build climate-resilient communities equipped to tackle a range of challenges including resource scarcity and infrastructure strain. 'At Itron, sustainability is a responsibility we embrace every day,' said Tom Deitrich, president and CEO of Itron. 'This year, Itron completed our first enterprise-wide double materiality assessment, furthering our commitment to ensure our sustainability priorities are aligned with stakeholder expectations and regulatory requirements. Just as importantly, our solutions continued to help customers reduce their own environmental impact. We remain deeply committed to creating lasting, positive change for our business, our communities and the planet.' Key areas of progress highlighted in the 2024 Corporate Sustainability Report include: Double Materiality Assessment: Itron completed the company's first Double Materiality Assessment (DMA) in 2024. The assessment included a multiphase approach to evaluate sustainability topics through both impact and financial materiality lenses. This exercise reinforces our commitment to stakeholder engagement and helps ensure our sustainability strategy is aligned with our business priorities and future regulatory requirements. Providing Sustainable Solutions: Itron's grid edge intelligence and smart city solutions continue to help customers advance their sustainability initiatives, reduce emissions and enhance customer engagement. In 2024, Itron solutions helped customers avoid more emissions than ever before with 7.5 million metric tons of greenhouse gas emissions avoided. These reductions were driven by improved operational efficiency and increased consumer engagement. Improving Our Environmental Impact: In 2024, Itron strengthened its sustainability program through key operational milestones. Itron achieved 100% ISO 14001 certification across all manufacturing facilities and maintained impeccable safety performance. Itron has reduced its Scope 1 and 2 emissions by over 50% since 2019. Supporting Our People and Communities: Itron continued to prioritize a people-first culture in 2024, earning recognition from Newsweek and U.S. News & World Report as one of America's Greatest Workplaces. In a company-led survey, nearly 95% of employees expressed their intent to stay with the company. Itron expanded its global inclusion efforts, strengthened leadership development programs and launched early-career and apprenticeship initiatives. The company also invested over $1 million in corporate philanthropy, educational outreach and volunteerism, reinforcing Itron's role as a responsible employer and a meaningful community partner. Operating with Integrity: Ethical conduct remains central to Itron's operation. In 2024, 100% of employees completed the Code of Conduct training, and nearly 90% of the Board remained independent, ensuring strong oversight. The company also earned recognition from MSCI and Sustainalytics for maintaining a low-risk ESG profile, demonstrating Itron's values-driven leadership and growing trust among stakeholders. ESG credibility remained strong, with an 'AA' MSCI rating and a 'Low Risk' designation from Sustainalytics. Itron's 2024 report underscores its continued leadership in responsible business practices and climate action. With oversight from its board of directors and active engagement across the organization, Itron's ESG strategy remains embedded in its operations. The full 2024 Corporate Sustainability Report is available for download at About Itron Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: Itron® and the Itron logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. Additional Resources LinkedIn: X: Newsroom: Blog: Media Contact:Alison MallahanSenior Manager, Corporate Communications(509) 891-3802PR@ Investor Contact:Paul VincentVice President, Investor Relations512-560-1172Investors@
Yahoo
10-06-2025
- Business
- Yahoo
Itron Publishes 2024 Corporate Sustainability Report
Advances Emissions Goals, Completes Double Materiality Assessment and Highlights Positive Customer Impact LIBERTY LAKE, Wash., June 10, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, today released its 2024 Corporate Sustainability Report. The report details Itron's environmental, social and governance (ESG) strategy and highlights how the company is empowering cities and utilities to boost efficiency, reduce emissions and build climate-resilient communities equipped to tackle a range of challenges including resource scarcity and infrastructure strain. 'At Itron, sustainability is a responsibility we embrace every day,' said Tom Deitrich, president and CEO of Itron. 'This year, Itron completed our first enterprise-wide double materiality assessment, furthering our commitment to ensure our sustainability priorities are aligned with stakeholder expectations and regulatory requirements. Just as importantly, our solutions continued to help customers reduce their own environmental impact. We remain deeply committed to creating lasting, positive change for our business, our communities and the planet.' Key areas of progress highlighted in the 2024 Corporate Sustainability Report include: Double Materiality Assessment: Itron completed the company's first Double Materiality Assessment (DMA) in 2024. The assessment included a multiphase approach to evaluate sustainability topics through both impact and financial materiality lenses. This exercise reinforces our commitment to stakeholder engagement and helps ensure our sustainability strategy is aligned with our business priorities and future regulatory requirements. Providing Sustainable Solutions: Itron's grid edge intelligence and smart city solutions continue to help customers advance their sustainability initiatives, reduce emissions and enhance customer engagement. In 2024, Itron solutions helped customers avoid more emissions than ever before with 7.5 million metric tons of greenhouse gas emissions avoided. These reductions were driven by improved operational efficiency and increased consumer engagement. Improving Our Environmental Impact: In 2024, Itron strengthened its sustainability program through key operational milestones. Itron achieved 100% ISO 14001 certification across all manufacturing facilities and maintained impeccable safety performance. Itron has reduced its Scope 1 and 2 emissions by over 50% since 2019. Supporting Our People and Communities: Itron continued to prioritize a people-first culture in 2024, earning recognition from Newsweek and U.S. News & World Report as one of America's Greatest Workplaces. In a company-led survey, nearly 95% of employees expressed their intent to stay with the company. Itron expanded its global inclusion efforts, strengthened leadership development programs and launched early-career and apprenticeship initiatives. The company also invested over $1 million in corporate philanthropy, educational outreach and volunteerism, reinforcing Itron's role as a responsible employer and a meaningful community partner. Operating with Integrity: Ethical conduct remains central to Itron's operation. In 2024, 100% of employees completed the Code of Conduct training, and nearly 90% of the Board remained independent, ensuring strong oversight. The company also earned recognition from MSCI and Sustainalytics for maintaining a low-risk ESG profile, demonstrating Itron's values-driven leadership and growing trust among stakeholders. ESG credibility remained strong, with an 'AA' MSCI rating and a 'Low Risk' designation from Sustainalytics. Itron's 2024 report underscores its continued leadership in responsible business practices and climate action. With oversight from its board of directors and active engagement across the organization, Itron's ESG strategy remains embedded in its operations. The full 2024 Corporate Sustainability Report is available for download at About Itron Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: Itron® and the Itron logo are registered trademarks of Itron, Inc. in the United States and other countries and regions. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. Additional Resources LinkedIn: X: Newsroom: Blog: Media Contact:Alison MallahanSenior Manager, Corporate Communications(509) 891-3802PR@ Investor Contact:Paul VincentVice President, Investor Relations512-560-1172Investors@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
ITRI Q1 Earnings Call: Margin Expansion and Software Growth Offset Revenue Miss
Resource management provider Itron (NASDAQ:ITRI) missed Wall Street's revenue expectations in Q1 CY2025, with sales flat year on year at $607.2 million. On the other hand, the company expects next quarter's revenue to be around $610 million, close to analysts' estimates. Its non-GAAP profit of $1.52 per share was 15.3% above analysts' consensus estimates. Is now the time to buy ITRI? Find out in our full research report (it's free). Revenue: $607.2 million vs analyst estimates of $614.1 million (flat year on year, 1.1% miss) Adjusted EPS: $1.52 vs analyst estimates of $1.32 (15.3% beat) Adjusted EBITDA: $87.93 million vs analyst estimates of $83.5 million (14.5% margin, 5.3% beat) Revenue Guidance for Q2 CY2025 is $610 million at the midpoint, roughly in line with what analysts were expecting Adjusted EPS guidance for Q2 CY2025 is $1.35 at the midpoint, above analyst estimates of $1.29 Operating Margin: 12.6%, up from 10.4% in the same quarter last year Free Cash Flow Margin: 11.1%, up from 5.7% in the same quarter last year Market Capitalization: $5.19 billion Itron's first quarter performance was shaped by favorable shifts in product mix and continued operational execution, as highlighted by CEO Tom Deitrich. The company saw expansion of gross margins and operating efficiency, particularly due to disciplined manufacturing and customer demand for its grid edge intelligence platform. CFO Joan Hooper pointed to record margins in Device Solutions and improved recurring revenue in Outcomes as supporting factors for margin growth, despite revenue coming in flat compared to the prior year. Looking ahead, management noted that expected tariff impacts and a stable demand environment are key themes for the remainder of the year. Deitrich acknowledged the fluid tariff landscape, estimating a $15 million EBITDA effect for 2025, but emphasized that mitigation strategies and ongoing supply chain adjustments should help maintain margin strength. Hooper added that recurring software revenue and disciplined capital allocation remain top priorities as Itron navigates macroeconomic and trade uncertainties. First quarter performance was driven by a favorable product mix, margin expansion, and continued demand for advanced grid intelligence solutions. Management emphasized operational discipline, recurring software growth, and resilience to evolving trade policies. Margin Expansion Through Product Mix: Gross margin reached a quarterly record, supported by a shift toward higher-margin products in Device Solutions and Outcomes. Portfolio pruning and a move away from legacy electric offerings contributed to improved profitability. Software and Recurring Revenue Growth: Outcomes segment revenue grew 14% year-over-year, with management highlighting four consecutive quarters of double-digit growth. Recurring software licenses made up approximately 70% of Outcomes revenue, with an ultimate goal of reaching 80%. Grid Edge Platform Adoption: Customer adoption of Itron's distributed intelligence and grid edge platforms continued, with 14.4 million endpoints shipped and another 10 million-plus in backlog. Key utility projects—including those with FirstEnergy and Public Service Company of New Mexico—drove demand for solutions that enhance outage detection and infrastructure agility. Tariff and Supply Chain Management: The company's regional supply strategy, including significant manufacturing in the U.S. and USMCA-compliant sourcing from Mexico, is helping to mitigate tariff impacts. Management estimates a $15 million net EBITDA impact from current tariffs for 2025, with most of the cost expected in the second half of the year. Constructive Regulatory Environment: Management described a supportive regulatory backdrop for utility software purchases, with the majority of states enabling rate-base inclusion for software and performance-based rates, facilitating ongoing Outcomes segment growth. Management's outlook for the next quarter and the remainder of the year centers on navigating tariff headwinds, sustaining margin improvements, and driving recurring software revenue growth, while acknowledging macroeconomic and regulatory uncertainties. Tariff Impact Mitigation: Itron is focused on offsetting anticipated tariff impacts through regional manufacturing, sourcing flexibility, and selective pricing adjustments, aiming to minimize disruption to margins and profitability. Recurring Revenue Expansion: Strategic emphasis remains on growing the Outcomes software segment, with management targeting a higher proportion of recurring revenue and ongoing margin expansion through product mix and operational leverage. Stable Utility Demand: The company sees steady customer demand for infrastructure modernization and grid intelligence solutions, although management noted that broader macroeconomic shifts could affect order timing or project execution later in the year. Noah Kaye (Oppenheimer): Asked if tariff headwinds would alter full-year guidance; management said it is too early to update, but current mitigation keeps guidance on track. Ben Kallo (R.W. Baird): Questioned regulatory progress on utilities capitalizing software; Tom Deitrich pointed to positive trends and mechanisms in most states enabling inclusion in rate bases. Jeff Osborne (TD Cowen): Inquired about the timing of tariff cost impacts and CapEx implications; management expects most tariff costs in the year's second half and no material change to capital expenditures. Joe Osha (Guggenheim): Sought clarity on margin sustainability in Outcomes after strong results; Joan Hooper said margins will fluctuate with software mix but expects year-over-year margin growth. Chip Moore (ROTH Capital Partners): Asked about capital allocation priorities; Joan Hooper indicated acquisitions to expand software capabilities are the top focus, with active exploration of potential deals. In the coming quarters, the StockStory team will closely monitor (1) the pace of recurring revenue growth in the Outcomes segment, (2) the effectiveness of tariff mitigation strategies as new trade measures are implemented, and (3) ongoing customer adoption of Itron's grid edge and distributed intelligence solutions. We will also watch for updates on potential software-focused acquisitions, which could accelerate recurring revenue and margin expansion. Itron currently trades at a forward P/E ratio of 20.7×. Should you double down or take your chips? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
Yahoo
01-05-2025
- Business
- Yahoo
Itron (NASDAQ:ITRI) Misses Q1 Revenue Estimates
Resource management provider Itron (NASDAQ:ITRI) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $607.2 million. On the other hand, next quarter's outlook exceeded expectations with revenue guided to $610 million at the midpoint, or 0.6% above analysts' estimates. Its non-GAAP profit of $1.52 per share was 15.4% above analysts' consensus estimates. Is now the time to buy Itron? Find out in our full research report. Revenue: $607.2 million vs analyst estimates of $614.1 million (flat year on year, 1.1% miss) Adjusted EPS: $1.52 vs analyst estimates of $1.32 (15.4% beat) Adjusted EBITDA: $88 million vs analyst estimates of $83.5 million (14.5% margin, 5.4% beat) Revenue Guidance for Q2 CY2025 is $610 million at the midpoint, roughly in line with what analysts were expecting Adjusted EPS guidance for Q2 CY2025 is $1.35 at the midpoint, above analyst estimates of $1.29 Operating Margin: 12.6%, up from 10.4% in the same quarter last year Free Cash Flow Margin: 11.1%, up from 5.7% in the same quarter last year Market Capitalization: $5.07 billion "First quarter margin expansion and earnings growth were ahead of expectations due to favorable product mix and continued strong execution," said Tom Deitrich, Itron's president and CEO. Founded by a small group of engineers who wanted to build a more efficient way to read utility meters, Itron (NASDAQ:ITRI) offers energy and water management products for the utility industry, municipalities, and industrial customers. A company's long-term performance is an indicator of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Unfortunately, Itron struggled to consistently increase demand as its $2.44 billion of sales for the trailing 12 months was close to its revenue five years ago. This wasn't a great result, but there are still things to like about Itron. Long-term growth is the most important, but within industrials, a half-decade historical view may miss new industry trends or demand cycles. Itron's annualized revenue growth of 16.1% over the last two years is above its five-year trend, suggesting its demand recently accelerated. We can better understand the company's revenue dynamics by analyzing its most important segments, Product and Service, which are 86.2% and 13.8% of revenue. Over the last two years, Itron's Product revenue (measurement and control equipment) averaged 19.2% year-on-year growth while its Service revenue ( project management, installation, consulting) averaged 3.4% growth. This quarter, Itron's $607.2 million of revenue was flat year on year, falling short of Wall Street's estimates. Company management is currently guiding for flat sales next quarter. Looking further ahead, sell-side analysts expect revenue to grow 2.3% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and suggests its products and services will face some demand challenges. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. Itron was profitable over the last five years but held back by its large cost base. Its average operating margin of 3.3% was weak for an industrials business. On the plus side, Itron's operating margin rose by 11.6 percentage points over the last five years. In Q1, Itron generated an operating profit margin of 12.6%, up 2.1 percentage points year on year. The increase was encouraging, and because its operating margin rose more than its gross margin, we can infer it was more efficient with expenses such as marketing, R&D, and administrative overhead. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Itron's EPS grew at a remarkable 13.1% compounded annual growth rate over the last five years, higher than its flat revenue. This tells us management responded to softer demand by adapting its cost structure. Diving into the nuances of Itron's earnings can give us a better understanding of its performance. As we mentioned earlier, Itron's operating margin expanded by 11.6 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its higher earnings; taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business. For Itron, its two-year annual EPS growth of 98.3% was higher than its five-year trend. We love it when earnings growth accelerates, especially when it accelerates off an already high base. In Q1, Itron reported EPS at $1.52, up from $1.24 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Itron's full-year EPS of $5.91 to shrink by 7.3%. We enjoyed seeing Itron beat analysts' EPS expectations this quarter. On the other hand, its revenue slightly missed. Looking ahead, next quarter's revenue guidance met expectations. Overall, this print was mixed. The market seemed to be hoping for more, and the stock traded down 1.5% to $109.59 immediately after reporting. Is Itron an attractive investment opportunity at the current price? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
