Itron (Nasdaq: ITRI) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Itron's revenues will compress -16.4% and EPS will drop -50.0%.

The average estimate for revenue is $484.3 million. On the bottom line, the average EPS estimate is $0.58.

Revenue details
 Last quarter, Itron reported revenue of $447.5 million. GAAP reported sales were 22% lower than the prior-year quarter's $571.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.31. GAAP EPS of $0.06 for Q1 were 90% lower than the prior-year quarter's $0.63 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 31.3%, 70 basis points worse than the prior-year quarter. Operating margin was 0.8%, 630 basis points worse than the prior-year quarter. Net margin was 0.6%, 380 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.01 billion. The average EPS estimate is $2.77.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 510 members out of 533 rating the stock outperform, and 23 members rating it underperform. Among 126 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 119 give Itron a green thumbs-up, and seven 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 $47.57.

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