Itron (ITRI) reported second-quarter 2026 revenue of $563 million, down 7% from the prior-year period. GAAP net income attributable to Itron was $53 million, or $1.19 per diluted share.
The company said annual recurring revenue rose 21% to $417 million and adjusted EBITDA increased 8% to $97 million. Itron raised its full-year earnings outlook and projected 2026 revenue between $2.37 billion and $2.41 billion.
- Revenue $563 million, compared with $607 million a year earlier
- GAAP net income attributable to Itron $53 million, down $15 million
- GAAP diluted EPS $1.19, down $0.28 per share
- Annual recurring revenue $417 million, up 21%
- Free cash flow $81 million, compared with $91 million in the prior year
- Backlog $4.4 billion at quarter end, with bookings of $550 million
- Third-quarter outlook Revenue of $590 million to $600 million and non-GAAP diluted EPS of $1.50 to $1.60
- Full-year outlook Revenue of $2.37 billion to $2.41 billion and non-GAAP diluted EPS of $6.30 to $6.50
