Itron (ITRI) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 10:17 AM CDT 26 min read

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Date

April 28, 2026, 10 a.m. ET

Call participants

• Chief Executive Officer — Thomas L. Deitrich

• Chief Financial Officer — Joan S. Hooper

Full Conference Call Transcript

Thomas begins, a reminder that our net merchandise and fiscal presumption see non-GAAP fiscal accusation that we judge enhances the wide knowing of our existent and aboriginal performance. Reconciliations of differences betwixt GAAP and non-GAAP fiscal measures are disposable successful our net merchandise and connected our Investor Relations website. We volition beryllium making statements during this telephone that are forward-looking. These statements are based connected existent expectations and assumptions that are taxable to risks and uncertainties.

Actual results could disagree materially from these expectations due to the fact that of factors that were presented successful today’s net merchandise and comments made during this league call, arsenic good arsenic those presented successful the Risk Factors conception of our Form 10-Ks and different reports and filings with the Securities and Exchange Commission. All institution comments, estimates oregon forward-looking statements are made successful a good-faith effort to supply due penetration to our existent and aboriginal operating and fiscal environment. Materials discussed today, 04/28/2026, whitethorn materially change, and we bash not undertake immoderate work to update immoderate of our forward-looking statements. Now delight crook to Page 4 of our presumption arsenic our CEO, Thomas Deitrich, begins his remarks.

Thomas L. Deitrich: Thank you, Paul. Good morning, everyone, and convey you for joining our telephone today. Itron, Inc. had a coagulated commencement to the year. Our archetypal 4th results were up of expectations owed to beardown execution from our teams and immoderate first-half projects progressing up of schedule. Turning to Slide 4 for the highlights. Revenue of $587 million, adjusted EBITDA of $92 million, non-GAAP net per stock of $1.49, and escaped currency travel of $79 million. Turning to Slide 5. While task timing provided a humble tailwind successful Q1 revenue, we expect the archetypal fractional to beryllium accordant with our archetypal guidance.

Overall, the gait of ongoing tract deployment of grid-edge exertion is good aligned to our expectations with nary worldly constraints for labour oregon materials. The adoption of flexible and intelligent solutions is accelerating and that is translating into durable, compounding maturation implicit time. Our Outcomes conception grew 22% year-over-year. Total institution yearly recurring gross astatine 4th extremity was $400 million, up 28% owed to beardown integrated maturation positive our precocious acquired Resiliency Solutions segment. More broadly, the size and scope of the accidental funnel stay outsized from humanities levels, driven by the age-out of existing infrastructure and caller requirements.