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Jun 30, 2021
Itron Q2 2021 Earnings Report
Itron reported a decrease in revenue due to component constraints, but improved gross margin and free cash flow compared to the prior year.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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