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Mar 31, 2022
Itron Q1 2022 Earnings Report
Itron reported a decrease in revenue due to supply constraints and an inflationary environment, with a focus on Networked Solutions and Outcomes offerings.
Key Takeaways
Itron's first quarter 2022 results showed a decrease in revenue to $475 million from $520 million, with GAAP net income falling to $1 million from $13 million. The company faced challenges due to component constraints and higher costs, impacting gross margin and profitability.
Revenue decreased by 9% to $475 million due to component constraints.
GAAP net income declined to $1 million, or $0.02 per diluted share.
Free cash flow decreased to $2 million, compared to $39 million in the prior year.
Total backlog increased to $3.9 billion from $3.4 billion.
Forward Guidance
This document does not contain forward guidance. No forward guidance was provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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