ITRON, INC. (ITRI) Form 8-K — Oct 27, 2026
Itron (NASDAQ: ITRI) reported Q3 2026 revenue of $599 million, up 3% year over year, with GAAP diluted EPS of $1.61 and non-GAAP diluted EPS of $1.94, up $0.40 from the prior year. Management called the quarter strong, citing record adjusted EBITDA of $115 million (up 18%) and earnings ahead of expectations. Annual recurring revenue grew 25% to $423 million, and adjusted gross margin expanded 350 basis points to 41.3% on favorable mix and operational efficiencies. Backlog stands at $4.3 billion with $482 million of quarterly bookings, supporting demand visibility from utility and city customers.
Key figures
- Eps
- 1.61
- Revenue
- 599333000
- Guidance
- Q4 2026 revenue $621-636M, non-GAAP diluted EPS $1.70-1.80; FY2026 revenue $2.37-2.385B, non-GAAP diluted EPS $6.72-6.82
- Net Income
- 71369000
- Total Debt
- 1577039000
- Revenue Yoy
- 3%
- Total Assets
- 4117027000
- Cash Position
- 840323000
- Q3 bookings
- $482 million
- Total backlog
- $4.3 billion
- Free cash flow
- $96 million, down $18 million
- Adjusted ebitda
- $115 million, up 18%
- Non gaap diluted eps
- $1.94 (up $0.40 YoY)
- Adjusted gross margin
- 41.3%, up 350 bps
- Annual recurring revenue
- $423 million, up 25%
AI analysis
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