---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-001247"
form_type: "8-K"
ticker: "ITRI"
cik: "0000780571"
company_name: "ITRON, INC."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T10:14:38.304421+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Itron Q2 revenue $541M (+25%), non-GAAP EPS $0.65; raises FY23 guidance sharply

## Summary
- Q2 revenue $541M (+25% YoY); GAAP net income $24M vs. loss of $37M in prior year.
- Non-GAAP diluted EPS $0.65 vs. $0.07; Adjusted EBITDA $49M, up 182%.
- Total backlog $4.5B (+11%); free cash flow $36M vs. $10M.
- Full-year 2023 revenue guidance raised to $2.11-2.14B (prev. $1.85-1.95B); non-GAAP EPS to $2.03-2.28 (prev. $0.70-1.10).
- Q3 2023 outlook: revenue $535-545M, non-GAAP diluted EPS $0.44-0.56.

## SEC filing metadata
- accession: 0001157523-23-001247
- form_type: 8-K
- ticker: ITRI
- cik: 0000780571
- company_name: ITRON, INC.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/780571/000115752323001247/0001157523-23-001247-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/780571/000115752323001247/a53505851.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-001247
- JSON: https://secwatch.observer/filing/0001157523-23-001247.json
- Plain text: https://secwatch.observer/filing/0001157523-23-001247.txt

## Key facts
- Earnings Releases
  ITRON, INC. reported the second quarter ended June 30, 2023 results: revenue $541 million, net income $24 million, EPS $0.53.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $541 million
  - Net income: $24 million
  - EPS: $0.53
  - Result: reported results
  source text: Revenue of $541 million, increased 25%; Gross profit of $174 million, increased 38%; GAAP net income of $24 million, increased $61 million; GAAP diluted earnings per share of $0.53, increased $1.35 per share; Non-GAAP diluted EPS of $0.65, increased $0.58 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/780571/000115752323001247/0001157523-23-001247-index.htm
- Earnings Releases
  ITRON, INC. reported the third quarter of 2023 results: revenue between $535 and $545 million, EPS between $0.44 and $0.56. Guidance initiated.
  - Period: the third quarter of 2023
  - Revenue: between $535 and $545 million
  - EPS: between $0.44 and $0.56
  - Guidance: initiated
  - Result: guidance update
  source text: Outlook for the third quarter of 2023 is as follows: Revenue between $535 and $545 million Non-GAAP diluted EPS between $0.44 and $0.56
  evidence_url: https://www.sec.gov/Archives/edgar/data/780571/000115752323001247/0001157523-23-001247-index.htm
- Earnings Releases
  ITRON, INC. reported the full year 2023 results: revenue between $2.11 to $2.14 billion, EPS between $2.03 to $2.28. Guidance raised.
  - Period: the full year 2023
  - Revenue: between $2.11 to $2.14 billion
  - EPS: between $2.03 to $2.28
  - Guidance: raised
  - Result: guidance update
  source text: Itron's guidance for the full year 2023 has been updated as follows: Revenue between $2.11 to $2.14 billion vs. previous guidance of $1.85 to $1.95 billion Non-GAAP diluted EPS between $2.03 to $2.28 vs. previous guidance of $0.70 to $1.10
  evidence_url: https://www.sec.gov/Archives/edgar/data/780571/000115752323001247/0001157523-23-001247-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.