ITRI

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EdgarFiling

EXHIBIT 99.1

Itron Announces Third Quarter 2026 Financial Results

LIBERTY LAKE, Wash., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its third quarter ended September 30, 2026. Key results for the quarter include (compared with the third quarter of 2025):

Revenue of $599 million, increased 3%; Annual recurring revenue of $423 million, increased 25%; GAAP net income attributable to Itron, Inc. of $71 million, increased $6 million; GAAP diluted earnings per share of $1.61, increased $0.20 per share; Non-GAAP diluted EPS of $1.94, increased $0.40 per share; Adjusted EBITDA of $115 million, increased 18%; and Free cash flow of $96 million, decreased $18 million.

“Itron delivered a strong third quarter, with revenue returning to growth at the top end of our outlook, record adjusted EBITDA, and earnings well ahead of our expectations — demonstrating the earnings leverage of our stronger operating model,” said Tom Deitrich, Itron’s President and CEO. “Utilities’ needs for capacity, reliability, resiliency, and affordability continue to drive demand for our technology, while our expanding software and services portfolio is supporting recurring revenue growth.”

Summary of Third Quarter Consolidated Financial Results (All comparisons made are against the prior year period unless otherwise noted)

Revenue Total third quarter revenue of $599 million compared to $582 million in the prior year. The increase was driven primarily by growth in Outcomes and the contribution from Resiliency Solutions.

Device Solutions revenue decreased 2%, or 1% in constant currency due to lower legacy gas product sales.

Networked Solutions revenue decreased 1% due to the timing of project deployments.

Outcomes revenue increased 9% due to higher services revenue.

Resiliency Solutions revenue was $16 million.

Adjusted Gross Margin Itron's third quarter adjusted gross margin of 41.3% increased 350 basis points from the prior year due to customer and product mix as well as operational efficiencies.

Operating Expenses and Operating Income GAAP operating expenses of $149 million increased $12 million and non-GAAP operating expenses of $141 million increased $10 million from the prior year due to the Urbint and Locusview acquisitions.

GAAP operating income of $95 million was $14 million higher due to higher gross profit.

Non-GAAP operating income of $107 million was $18 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.

Net Income and Earnings per Share (EPS) Net income attributable to Itron, Inc. for the quarter was $71 million, or $1.61 per diluted share, compared with net income attributable to Itron, Inc. of $66 million, or $1.41 per diluted share in 2025. The increase was driven by higher operating income.

Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, gain on the sale of equity method investments, and the tax effect of excluding these expenses, was $86 million, or $1.94 per diluted share, compared with $72 million, or $1.54 per diluted share, in 2025. The increase was driven by higher non-GAAP operating income and lower non-GAAP taxes.

Cash Flow Net cash provided by operating activities was $102 million in the third quarter compared with $118 million in the prior year. Free cash flow was $96 million in the third quarter compared with $113 million in the prior year. The decrease in free cash flow was primarily due to changes in working capital, higher cash tax payments and lower interest income.

Other Measures

Total backlog at quarter end was $4.3 billion and bookings during the quarter totaled $482 million.

Q4 and Updated Full Year 2026 Outlook

Fourth Quarter 2026 financial outlook:

Revenue between $621 and $636 million Non-GAAP diluted EPS between $1.70 and $1.80

Updated Full Year 2026 financial outlook:

Revenue between $2.37 and $2.385 billion Non-GAAP diluted EPS between $6.72 and $6.82

Earnings Conference Call Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on October 27, 2026. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.itron.com/events-presentations. Participants should access the webcast 10 minutes prior to the start of the call. A webcast replay of the conference call may be accessed on the company's website at https://investors.itron.com/events-presentations.

About Itron Itron is a proven global leader in energy, water, smart city, I

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PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Itron Announces Second Quarter 2026 Financial Results

LIBERTY LAKE, Wash, July 28, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its second quarter ended June 30, 2026. Key results for the quarter include (compared with the second quarter of 2025):

Revenue of $563 million, decreased 7%; Annual recurring revenue of $417 million, increased 21%; GAAP net income attributable to Itron, Inc. of $53 million, decreased $15 million; GAAP diluted earnings per share of $1.19, decreased $0.28 per share; Non-GAAP diluted EPS of $1.59, decreased $0.03 per share; Adjusted EBITDA of $97 million, increased 8%; and Free cash flow of $81 million, decreased $9 million.

"Itron delivered record gross margin, earnings well ahead of our expectations, and strong free cash flow in the second quarter, with revenue in line with our outlook — clear evidence of the structurally better earnings power this team has built," said Tom Deitrich, Itron's President and CEO. "The demand environment remains constructive, supported by durable needs across grid expansion, resiliency, and affordability — and by the industry's intensifying focus on time-to-power. A stronger operating model in a durable demand environment is why we are raising our full-year earnings outlook."

Summary of Second Quarter Consolidated Financial Results (All comparisons made are against the prior year period unless otherwise noted)

Revenue Total second quarter revenue of $563 million compared to $607 million in the prior year. The decrease was driven primarily by lower Networked Solutions revenue, partially offset by continued growth in Outcomes.

Device Solutions revenue decreased 1%, or 3% in constant currency, due primarily to lower legacy electricity product sales.

Networked Solutions revenue decreased 17% due to the timing of project deployments and lower volumes.

Outcomes revenue increased 13% due to increased services revenue.

Resiliency Solutions revenue was $16 million with integration progressing to plan.

Adjusted Gross Margin Itron's second quarter adjusted gross margin of 41.4% increased 460 bps basis points from the prior year due to customer and product mix as well as operational efficiencies.

Operating Expenses and Operating Income GAAP operating expenses of $155 million increased $7 million from the prior year due to higher amortization costs, partially offset by lower restructuring costs. Non-GAAP operating expenses of $144 million increased $3 million from the prior year due to the Urbint and Locusview acquisitions.

GAAP operating income of $76 million was $0.3 million lower due to higher operating expenses, including acquisition-related amortization expense, partially offset by higher gross profit

Non-GAAP operating income of $89 million was $7 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.

Net Income and Earnings per Share (EPS) Net income attributable to Itron, Inc. for the quarter was $53 million, or $1.19 per diluted share, compared with net income attributable to Itron, Inc. of $68 million, or $1.47 per diluted share in 2025. The decrease was driven by lower interest income and a higher effective tax rate.

Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, gain on the sale of equity method investments, and the tax effect of excluding these expenses, was $71 million, or $1.59 per diluted share, compared with $75 million, or $1.62 per diluted share, in 2025. The decrease was driven by lower interest income and a higher effective tax rate, partially offset by higher non-GAAP operating income.

Cash Flow Net cash provided by operating activities was $88 million in the second quarter compared with $97 million in the prior year. Free cash flow was $81 million in the second quarter compared with $91 million in the prior year. The decrease in free cash flow was primarily due to higher tax payments and lower interest income, partially offset by favorable working capital timing.

Other Measures

Total backlog at quarter end was $4.4 billion compared with $4.5 billion in the prior year. Bookings in the quarter totaled $550 million.

Q3 and Updated Full Year 2026 Outlook

Third quarter 2026 financial outlook:

Revenue between $590 and $600 million Non-GAAP diluted EPS between $1.50 and $1.60

Updated full year 2026 financial outlook:

Revenue between $2.37 and $2.41 billion Non-GAAP diluted EPS between $6.30 - $6.50

Earnings Conference Call Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on July 28, 2026. In

EX-99.1

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PRESS RELEASE

EdgarFiling

EXHIBIT 99.1

Itron Announces First Quarter 2026 Financial Results

LIBERTY LAKE, Wash., April 28, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today financial results for its first quarter ended March 31, 2026. Key results for the quarter include (compared with the first quarter of 2025):

Revenue of $587 million, decreased 3%; GAAP net income attributable to Itron, Inc. of $53 million, decreased $12 million; GAAP diluted earnings per share of $1.18, decreased $0.24 per share; Non-GAAP diluted EPS of $1.49, decreased $0.03 per share; Adjusted EBITDA of $92 million, increased 5%; and Free cash flow of $79 million, increased $11 million.

"Itron’s first quarter results were ahead of our expectations on strong execution and certain projects running ahead of schedule, resulting in record gross profit", said Tom Deitrich, Itron’s president and CEO. "Our utility customers are prioritizing resiliency and affordability. This multi-year investment trend to add intelligence to the grid is structural and aligns well with Itron leading positions in essential networks, analytics, and operational intelligence applications."

Summary of First Quarter Consolidated Financial Results (All comparisons made are against the prior year period unless otherwise noted)

Revenue Total first quarter revenue of $587 million compared to $607 million in the prior year. The decrease was driven primarily by portfolio optimization and the timing of project deployments.

Device Solutions revenue decreased 1%, or 9% in constant currency, due to lower legacy electricity product sales related to portfolio optimization in EMEA and lower North American project deployments.

Networked Solutions revenue decreased 13%, or 14% in constant currency, due to the timing of project deployments.

Outcomes revenue increased 22%, or 20% in constant currency, due to increased recurring and services revenue.

Resiliency Solutions revenue was $16 million which now includes revenue from both Urbint and Locusview. The Locusview acquisition closed in January 2026.

Adjusted Gross Margin Itron's first quarter adjusted gross margin of 40.7% increased 490 basis points from the prior year due to customer and product mix and operational efficiencies.

Operating Expenses and Operating Income GAAP operating expenses of $169 million increased $28 million from the prior year. Non-GAAP operating expenses of $154 million increased $17 million from the prior year. Both increases were due to higher sales, and general & administrative expenses largely due to the additions of Urbint and Locusview.

GAAP operating income of $68 million was $9 million lower than the prior year due to higher operating expenses, partially offset by higher gross profit.

Non-GAAP operating income of $84 million was $4 million higher than the prior year due to higher gross profit, partially offset by higher operating expenses.

Net Income and Earnings per Share (EPS) Net income attributable to Itron, Inc. for the quarter was $53 million, or $1.18 per diluted share, compared with net income attributable to Itron, Inc. of $65 million, or $1.42 per diluted share in 2025. The decrease was driven by lower GAAP operating income and lower interest income.

Non-GAAP net income attributable to Itron, Inc., which excludes the expenses associated with amortization of intangible assets, amortization of debt placement fees, restructuring, loss on sale of business, strategic initiative expense, acquisition and integration related expenses, and the tax effect of excluding these expenses, was $68 million, or $1.49 per diluted share, compared with $70 million, or $1.52 per diluted share, in 2025. The decrease was driven by lower interest income, partially offset by higher Non-GAAP operating income.

Cash Flow Net cash provided by operating activities was $86 million in the first quarter compared with $72 million in the prior year. Free cash flow was $79 million in the first quarter compared with $67 million in the prior year. The increase in free cash flow was primarily due to lower tax payments.

Other Measures

Total backlog at quarter end was $4.4 billion compared with $4.7 billion in the prior year. Bookings in the quarter totaled $476 million.

Q2 2026 Outlook

Outlook for the second quarter of 2026 is as follows:

Revenue between $560 and $570 million Non-GAAP diluted EPS between $1.25 and $1.35

Earnings Conference Call Itron will host a conference call to discuss the financial results contained in this release at 10:00 a.m. EDT on April 28, 2026. Interested parties may listen to the conference call on a live webcast. The webcast, along with a supplemental presentation, may be accessed from the company’s website at https://investors.itron.com/events-presentations. Participants should access the webcast 10 minutes prior to the start of the call. A webcast replay