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Dec 31, 2024
Itron Q4 2024 Earnings Report
Itron reported strong Q4 2024 earnings, with increased revenue and net income driven by robust demand.
Key Takeaways
Itron delivered a solid performance in Q4 2024, with revenue reaching $613 million, a 6% increase year-over-year. Net income rose to $58 million, with GAAP EPS at $1.26 and non-GAAP EPS at $1.35. The company achieved record backlog levels of $4.7 billion and experienced strong growth in its Outcomes segment. Free cash flow increased significantly to $70 million.
Revenue grew 6% year-over-year to $613 million.
GAAP EPS increased to $1.26, while non-GAAP EPS rose to $1.35.
Record backlog of $4.7 billion, with strong bookings of $1.4 billion in Q4.
Free cash flow surged to $70 million, up from $39 million last year.
Revenue by Segment
Forward Guidance
Itron expects continued revenue growth and profitability in 2025, with stable market conditions and strong customer demand.
Positive Outlook
- Q1 2025 revenue guidance of $610M to $620M.
- Non-GAAP EPS for Q1 expected between $1.25 and $1.35.
- FY 2025 revenue forecasted between $2.4B and $2.5B.
- Non-GAAP EPS for FY 2025 projected between $5.20 and $5.60.
- Strong demand and backlog position support future growth.
Challenges Ahead
- Potential macroeconomic uncertainties impacting project execution.
- Higher operating expenses due to increased investments in growth.
- Continued decline in legacy electricity product sales within Device Solutions.
- Foreign exchange fluctuations may affect revenue and profitability.
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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