Itron Q2 2021 Earnings Report
Key Takeaways
Itron's Q2 2021 results were impacted by component constraints, leading to a revenue decrease. However, the company saw demand recovery and improved gross margin and free cash flow. Itron updated its full-year 2021 guidance to reflect the impact of component constraints.
Revenue decreased 4% to $489 million due to component constraints.
Non-GAAP diluted EPS increased to $0.28, compared to $0.03 in the prior year.
Free cash flow improved to $64 million, compared to $(10) million in the prior year.
Total backlog reached a record $3.5 billion, compared to $2.9 billion in the prior year.
Itron
Itron
Forward Guidance
Itron updated its full year 2021 guidance to reflect the impact of component constraints. Revenue is expected to be between $2.05 to $2.15 billion, and non-GAAP diluted EPS is expected to be between $1.00 to $1.50.