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Dec 31, 2025
Itron Q4 2025 Earnings Report
Itron reported a decrease in revenue but an increase in net income and EPS for the fourth quarter of 2025, driven by strong Grid Edge Intelligence platform adoption and strategic acquisitions.
Key Takeaways
Itron, Inc. announced financial results for its fourth quarter and full year ended December 31, 2025, reporting a 7% decrease in revenue to $572 million compared to the prior year, but a significant increase in GAAP net income attributable to Itron, Inc. to $102 million, up $44 million from 2024. GAAP diluted EPS also saw a substantial rise to $2.21, an increase of $0.95.
Fourth quarter revenue decreased by 7% to $572 million, primarily due to portfolio optimization and project deployment timing.
GAAP net income attributable to Itron, Inc. increased by $44 million to $102 million.
GAAP diluted earnings per share rose by $0.95 to $2.21.
Adjusted EBITDA increased by 21% to $99 million, and free cash flow increased by $41 million to $112 million.
Revenue by Segment
Forward Guidance
Itron provided a positive outlook for the first quarter and full year 2026, with expected revenue and non-GAAP diluted EPS growth, indicating continued confidence in their strategic initiatives and market position.
Positive Outlook
- First quarter 2026 revenue is projected to be between $565 million and $575 million.
- First quarter 2026 non-GAAP diluted EPS is expected to be between $1.20 and $1.30.
- Full year 2026 revenue is projected to be between $2.35 billion and $2.45 billion.
- Full year 2026 non-GAAP diluted EPS is expected to be between $5.75 and $6.25.
- The company's strategic acquisitions of Urbint and Locusview are expected to enhance AI-enhanced software solutions and recurring revenue, focusing on intelligent, proactive resiliency.
Challenges Ahead
- The company did not provide GAAP diluted EPS guidance for the full year 2026 due to uncertainties in restructuring-related expenses and tax effects.
- The decrease in fourth quarter 2025 revenue was driven by portfolio optimization and the timing of project deployments, which could indicate ongoing challenges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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