Itron Inc (ITRI) said before open Thursday that it earned $0.07 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $431.9 million, missing estimates by $54.8 million.
In the same quarter a year ago, the company earned $0.28 per share on revenue of $489.4 million.
The stock is down 14.44% to $50.16 after the report.
Itron Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 50. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Itron Inc provides solutions that measure, manage and analyze energy and water use. It operates under the Itron brand and manages and reports under three operating segments: Device Solutions, Networked Solutions, and Outcomes. The device Solutions segment includes hardware products used for measurement, control, or sense that do not have communications capability embedded for use with broader Itron systems.The networked Solutions segment includes a combination of communicating devices, network infrastructure, and associated application software designed and sold as a complete solution. The outcome segment includes their value-added, enhanced software and services which manage, organize, analyze, and interpret data to improve decision making, maximize operational profitability.
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Itron Inc Down 14.44% To $50.16 After Earnings Miss
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