The 10-second takeaway
For the quarter ended March 31 (Q1), Itron beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share dropped.
Margins dropped across the board.
Itron recorded revenue of $571.6 million. The 21 analysts polled by S&P Capital IQ anticipated net sales of $548.7 million on the same basis. GAAP reported sales were 1.4% higher than the prior-year quarter's $563.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.91. The 24 earnings estimates compiled by S&P Capital IQ forecast $0.93 per share on the same basis. GAAP EPS of $0.63 for Q1 were 4.5% lower than the prior-year quarter's $0.66 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.0%, 70 basis points worse than the prior-year quarter. Operating margin was 7.1%, 180 basis points worse than the prior-year quarter. Net margin was 4.4%, 40 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $564.1 million. On the bottom line, the average EPS estimate is $1.01.
Next year's average estimate for revenue is $2.22 billion. The average EPS estimate is $3.97.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 530 members out of 552 rating the stock outperform, and 22 members rating it underperform. Among 136 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 131 give Itron a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Itron is outperform, with an average price target of $49.20.
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