Itron (ITRI) Q3 Earnings And Revenues Surpass Estimates
Zacks Investment Research | Nov 05, 2019 10:07PM ET
Itron, Inc. (NASDAQ:ITRI) reported third-quarter 2019 non-GAAP earnings of $1.04 per share, which beat the Zacks Consensus Estimate by 37 cents. The figure was down 8% from the year-ago quarter but up 19.5% sequentially.
Revenues came in at $624.47 million, which surpassed the Zacks Consensus Estimate by 1%. Further, the figure improved 5% year over year or 7% on a constant-currency basis.
The top line was driven by robust performance of the company’s networked solutions segment. Further, solid customer demand acted as a tailwind.
Product and services revenues — which accounted for 88.5% and 11.5% of total revenues — improved 5.2% and 1.2%from the year-ago quarter, respectively.
Its bookings were $609 million and backlog was $3.1 billion during the reported quarter.
Itron, Inc. Price, Consensus and EPS Surprise
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