Itron Q2 revenue down 12%; guides FY 2022 revenue and EPS well below prior outlook

ITRON, INC.

2022-Q2 EPS reported -$0.80 revenue$907,213,000

Revenue $432M (-12% YoY); GAAP net loss $37M ($0.82 loss per share) vs $33M loss year ago.
Non-GAAP EPS $0.07 vs $0.28; Adjusted EBITDA $17M vs $36M.
Total backlog record $4.1B (up from $3.5B); bookings $612M in quarter.
FY 2022 guidance: revenue $1.85-1.9B (down from $2.0-2.1B), non-GAAP EPS $0.70-0.90 (down from $1.25-1.75).
Goodwill impairment of $38.5M in Device Solutions segment; supply constraints and inflation cited.

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