secwatch.observer — SEC 8-K summary
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Issuer:     ITRON, INC. (ITRI)
CIK:        0000780571
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001157523-22-000522
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Itron Q1 revenue falls 9% to $475M; GAAP EPS $0.02 vs $0.30; backlog up to $3.9B
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- Revenue $475M, down 9% YoY; gross margin 28.4%, down 380 bps due to component costs and shortages.
- GAAP net income $1M ($0.02 EPS) vs $13M ($0.30) in Q1 2021; non-GAAP EPS $0.11 vs $0.52.
- Adjusted EBITDA $19M vs $50M; free cash flow $2M vs $39M, driven by higher variable compensation.
- Total backlog $3.9B (+15% YoY); 12-month backlog $1.6B; Q1 bookings $417M.
- Device Solutions revenue -19%; Networked Solutions and Outcomes each -3% due to component constraints.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/780571/000115752322000522/0001157523-22-000522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/780571/000115752322000522/a52702937.htm
  HTML page:      https://secwatch.observer/filing/0001157523-22-000522

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer