Itron Q1 2024 Earnings Report
Key Takeaways
Itron reported a 22% increase in total revenue to $603 million, driven by strong operational execution and customer demand. The company's GAAP operating income increased to $63 million, and net income attributable to Itron was $52 million, or $1.12 per diluted share.
Total revenue increased by 22% to $603 million, driven by operational execution and constructive customer demand.
Networked Solutions segment achieved record quarterly revenue.
Gross margin increased by 240 basis points to 34.0% due to higher margin product mix and operational efficiencies.
GAAP operating income was $63 million, a $73 million increase from the prior year.
Itron
Itron
Itron Revenue by Segment
Forward Guidance
Itron provided outlook for the second quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income