Itron Q2 2024 revenue $609M (+13% YoY), GAAP EPS $1.10, raises FY 2024 guidance

ITRON, INC.

2024-Q2 EPS reported $2.22 revenue$1,212,511,000

Revenue $609M (+13% YoY); gross margin 34.6% (+250 bps).
GAAP diluted EPS $1.10 vs $0.53 YoY; Non-GAAP diluted EPS $1.21 vs $0.65.
Networked Solutions and Outcomes segments posted record revenue.
FY 2024 revenue guidance raised to $2.385-2.415B from $2.275-2.375B; Non-GAAP EPS $4.45-4.65 from $3.40-3.80.
Free cash flow $45M vs $36M YoY; backlog $4.1B.

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