Itron Q4 2019 Earnings Report
Key Takeaways
Itron reported a 7% increase in revenue for Q4 2019, reaching $628 million, driven by growth in the Networked Solutions segment. However, the gross margin decreased by 190 basis points to 28.2% due to product mix. GAAP net income was $15 million, or $0.36 per diluted share, while non-GAAP net income was $29 million, or $0.72 per diluted share. The company's total backlog reached a record $3.2 billion.
Total revenue increased by 7% to $628 million, driven by Networked Solutions.
Gross margin decreased by 190 basis points to 28.2% due to product mix.
GAAP net income was $15 million, or $0.36 per diluted share.
Total backlog reached a record $3.2 billion.
Itron
Itron
Itron Revenue by Segment
Forward Guidance
Itron's guidance for the full year 2020 includes revenue between $2.475 and $2.575 billion and non-GAAP diluted EPS between $3.35 and $3.85.
Revenue & Expenses
Visualization of income flow from segment revenue to net income