Itron (ITRI) Q1 Earnings In Line, Revenues Beat Estimates
Zacks Investment Research | May 15, 2018 03:38AM ET
Itron, Inc. (NASDAQ:ITRI) reported first-quarter 2018 adjusted earnings of 13 cents per share, which declined around 77% year over year. Earnings came in line with the Zacks Consensus Estimate. The year-over-year earnings decline resulted from the elevated supply-chain transition costs, higher component and commodity prices, and product mix.
Including one-time items, the company posted loss of $3.74 cents per share compared with earnings of 40 cents reported in the prior-year quarter.
Total revenues increased around 27% year over year to $607 million, driven by increased sales of smart electric and gas solutions in Europe, accelerated deliveries of OpenWay Riva solutions in the Americas and stellar performance in the new Networks segment. The top line also surpassed the Zacks Consensus Estimate of $570 million.
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