Snapshot
Itron, Inc. reported $582M of revenue in Q3 2025, up -5.5% year over year, with diluted EPS of $1.41 and an operating margin of 14.1%.
- Revenue
- $582M
- YoY growth
- +-5.5%
- Diluted EPS
- $1.41
- Operating margin
- 14.1%
$582M
Revenue
+-5.5%
YoY growth
$1.41
Diluted EPS
14.1%
Operating margin
01 Key takeaways
What management said
- •Tom Deitrich, Itron's President and Chief Executive Officer, and Joan Hooper, Senior Vice President and Chief Financial Officer, will review Itron's third quarter results and provide a general business update and outlook.
- •Before Tom begins, a reminder that our earnings release and financial presentation include non-GAAP financial information that we believe enhances the overall understanding of our current and future performance.
- •Reconciliations of differences between GAAP and non-GAAP financial measures are available in our earnings release and on our Investor Relations website.
- •During the third quarter, Itron set new records for margins, profit, and free cash flow on revenue in line with expectations.
- •Financial highlights on slide four include revenue of $582 million, adjusted EBITDA of $97 million, non-GAAP earnings per share of $1.54, and free cash flow of $113 million.
- •On slide five, our third quarter bookings were $380 million, with a total backlog at the end of the quarter of $4.3 billion.
- •Turning to slide six, utilities are operating in an increasingly complex environment marked by accelerating load growth, rising costs, heightened regulatory scrutiny, and greater technical demands.
- •This is reflected in the ongoing expansion of distributed intelligence-enabled endpoints, which topped 16 million deployed by the end of the third quarter, with more than 10 million additional units in backlog.
- •Licensed DI applications grew 119% year over year to 20 million at quarter end.
- •Grid Edge Intelligence defines the future of agile, data-driven distribution infrastructure and continues to expand opportunities for our Outcomes segment, which grew 11% year over year, led by higher recurring revenue.
- •Although project conversion to backlog is taking longer, lumpy bookings are a familiar pattern and do not alter our long-term business trajectory.
- •Our opportunity pipeline has expanded by over 25% since the start of the year.
SourcesCompany financials · earnings call
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