Itron (ITRI) Reports Q1: Everything You Need To Know Ahead Of Earnings

Resource management provider Itron (NASDAQ:ITRI) will be announcing earnings results this Tuesday before market hours. Here’s what investors should know.

Itron beat analysts’ revenue expectations last quarter, reporting revenues of $571.7 million, down 6.7% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.

Is Itron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Itron’s revenue to decline 5.8% year on year, a deceleration from its flat revenue in the same quarter last year.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Itron has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Itron’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 7.6%, beating analysts’ expectations by 3%, and Badger Meter reported a revenue decline of 9%, falling short of estimates by 12.5%. Teledyne traded up 1.4% following the results while Badger Meter was down 25.5%.

Read our full analysis of Teledyne’s results here and Badger Meter’s results here.

There has been positive sentiment among investors in the electrical equipment segment, with share prices up 15% on average over the last month. Itron is up 7.6% during the same time and is heading into earnings with an average analyst price target of $135 (compared to the current share price of $90.29).

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