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Mar 31, 2024
Itron Q1 2024 Earnings Report
Itron's Q1 2024 financial performance reflected strong operational execution and constructive market conditions, with revenue and profitability growth exceeding expectations due to performance across all segments.
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.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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