Itron Q4 2024 Earnings Report
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.
Itron Revenue
Itron EPS
Itron 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.
- Tax expense expected to be higher compared to 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income