Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Itron (NASDAQ:ITRI) got crushed today by as much as 12% after the company reported weaker-than-expected earnings.

So what: Revenue during the fourth quarter added up to $523 million, with non-GAAP earnings per share of $0.58. The fact that sales toppled the consensus estimate of $472.9 million was little consolation for the notable miss on the bottom-line result, since investors were expecting a profit of $0.66 per share.

Now what: It gets worse. Guidance calls for full-year sales of $2 billion to $2.1 billion, which should translate into adjusted earnings per share of just $3.00 to $3.25. That hardly compares to the $3.66 per share profit that analysts were modeling for. As a result, the stock has received numerous downgrades today from analysts, including J.P. Morgan, Brean Capital, and Needham.

Interested in more info on Itron? Add it to your watchlist by clicking here.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.