Itron Q2 Adj. Profit Declines; Cuts Guidance

(RTTNews) - Itron, Inc. (ITRI) reported second quarter non-GAAP EPS of $0.07, compared with $0.28, prior year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.21, for the quarter. Analysts' estimates typically exclude special items.

GAAP net loss of $37 million, compared with a loss of $33 million, prior year. GAAP loss per share was $0.82, compared with a loss of $0.73.

Revenue was $432 million, compared with $489 million, last year. Analysts on average had estimated $486.71 million in revenue.

For the full year 2022, the company now expects revenue between $1.85 to $1.9 billion, revised from previous guidance of $2.0 to $2.1 billion. Non-GAAP EPS is expected between $0.70 to $0.90 updated from previous guidance of $1.25 to $1.75.

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