Itron (ITRI) Q3 Earnings & Revenues Lag On Shipment Delays
Zacks Investment Research | Nov 02, 2017 10:51PM ET
Itron, Inc.’s (NASDAQ:ITRI) third-quarter 2017 adjusted earnings of 77 cents per share remained flat year over year. Earnings, however, missed the Zacks Consensus Estimate of 89 cents. Results bore the impact of delay in shipments due to short-term issues related to factory consolidation, supply chain transitions and ramped-up deliveries of new solutions. These steps were carried out by Itron in a bid to improve operational efficiencies and transform its business.
Including one-time items, the company reported earnings of 65 cents per share compared to a loss of 26 cents per share witnessed in the prior-year quarter.
Total revenues decreased around 3.9% year over year to $487 million due to temporary operational issues primarily in North America and dragged delays of Water projects in the company’s Europe, Middle East and Africa (EMEA) and North American regions. Revenues also fell short of the Zacks Consensus Estimate of $525 million.
Itron, Inc. Price, Consensus and EPS Surprise
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