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Sep 30, 2020
Itron Q3 2020 Earnings Report
Itron's financial results decreased due to lower customer demand and operating constraints resulting from COVID-19.
Key Takeaways
Itron reported a decrease in revenue to $540 million compared to $624 million in the third quarter of 2019. The company experienced a GAAP net loss of $25 million, or $(0.63) per share, compared to a net income of $17 million, or $0.42 per diluted share, in the prior year. Non-GAAP diluted EPS was $0.61, compared to $1.04 in 2019. Free cash flow increased to $38 million from $32 million, while total backlog decreased to $2.8 billion from $3.1 billion.
Revenue decreased 13% to $540 million, impacted by COVID-19.
GAAP net loss was $(25) million, a decrease from net income of $17 million in the prior year.
Non-GAAP diluted EPS decreased to $0.61 from $1.04 in the prior year.
Free cash flow increased to $38 million from $32 million in the prior year.
Forward Guidance
Itron remains on track to achieve their second half 2020 expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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