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Itron shares jump 26% after earnings beat and lifted 2026 outlook
Itron reported Q2 non-GAAP EPS of $1.59 and raised its full-year 2026 revenue guidance to $2.37 billion to $2.41 billion.
Itron Inc. shares surged 26.23% to close at $107.02 on Tuesday after the technology company beat its own earnings expectations and lifted its growth outlook, with demand cited as a key driver, according to Yahoo Finance.
For the second quarter, Itron posted non-GAAP diluted earnings per share of $1.59, down $0.03 from the prior year period but above its earlier expectations of $1.25 to $1.35. Total revenues were $563 million, down 7% year over year, but within prior guidance of $560 million to $570 million.
Attributable net income for the quarter was $53.27 million, down 22% from $68.3 million a year earlier. Itron President and CEO Tom Deitrich said the company delivered record gross margin, earnings ahead of expectations, and strong free cash flow, while revenue matched its outlook.
Looking ahead, Itron expects the third quarter to improve versus last year, targeting revenues of $590 million to $600 million and non-GAAP diluted EPS of $1.50 to $1.60. For full-year 2026, it raised revenue guidance to $2.37 billion to $2.41 billion and projected non-GAAP diluted EPS of $6.30 to $6.50.