Resource management provider Itron (NASDAQ: ITRI) will be reporting earnings this Thursday morning. Here’s what you need to know.
Itron met analysts’ revenue expectations last quarter, reporting revenues of $606.8 million, flat year on year. It was a satisfactory quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations but full-year revenue guidance missing analysts’ expectations significantly.
Is Itron a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Itron’s revenue to decline 6% year on year to $578.3 million, a reversal from the 9.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.48 per share.
Analysts covering the company have generally 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 twice over the last two years.
Looking at Itron’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 13.1%, beating analysts’ expectations by 1.8%, and Teledyne reported revenues up 6.7%, topping estimates by 0.8%. Badger Meter traded down 2.6% following the results while Teledyne was also down 6.6%.
Read our full analysis of Badger Meter’s results here and Teledyne’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 3.1% on average over the last month. Itron is up 7.9% during the same time and is heading into earnings with an average analyst price target of $146.20 (compared to the current share price of $133.95).
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