ITRON, INC. reported first quarter ended March 31, 2026 results: revenue $587 million, net income $53 million, EPS $1.18.
“water, announced today financial results for its first quarter ended March 31, 2026. Key results for the quarter include (compared with the first quarter of 2025): Revenue of $587 million, decreased 3%; GAAP net income attributable to Itron, Inc. of $53 million, decreased $12 million; GAAP diluted earnings per share of $1.18, decreased $0.24 per share; Non-GAAP”
Debt Financings
ITRON, INC. incurred convertible notes of $700.0 million principal amount with J.P. Morgan Securities LLC at 0.00% maturing March 15, 2032.
“On February 23, 2026, Itron, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein (collectively, the “Initial Purchasers”), to issue and sell $700.0 million principal amount of its 0.00% Convertible Senior Notes due 2032 (the “Firm Notes”)”
Material Agreements
ITRON, INC. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee (effective 2026-02-26).
“On February 26, 2026, the Company entered into an indenture with U.S. Bank Trust Company, National Association, as trustee, relating to the issuance by the Company of the Notes (the “Indenture”).”
Material Agreements
ITRON, INC. entered into Purchase Agreement with J.P. Morgan Securities LLC, as representative of the several initial purchasers valued at $700.0 million principal amount of its 0.00% Convertible Senior Notes due 2032 (effective 2026-02-23).
“On February 23, 2026, Itron, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with J.P. Morgan Securities LLC, as representative of the several initial purchasers named therein (collectively, the “Initial Purchasers”), to issue and sell $700.0 million principal amount of its 0.00% Convertible Senior Notes due 2032 (the “Firm Notes”)”
Debt Financings
ITRON, INC. incurred revolving credit of $750 million at SOFR plus 175.0 bps maturing September 25, 2030.
“Company) entered into a third amended and restated credit agreement (the Credit Agreement) providing for committed credit facilities (the Credit Facilities) in the amount of $750 million. The Credit Agreement consists of a multi-currency revolving line of credit (the Revolver) in the amount of $750 million. The Revolver includes a standby letter of credit”
Mary C. Hemmingsen departed as Director at ITRON, INC..
“On February 19, 2025, Mary C. Hemmingsen, a member of the Board and a member of the Audit/Finance Committee, advised the Company that owing to her significant work and board load as partner at Moneta Securities and her audit chair role for four companies, she will not stand for re-election to the Board at the Company's 2025 Annual Meeting of Shareholders.”
Lynda L. Ziegler departed as Director at ITRON, INC..
“On February 19, 2025, Lynda L. Ziegler, a member of the Board of Directors (the Board) of Itron, Inc. (the Company), the chair of the Nominating and Corporate Governance Committee, and a member of the Compensation Committee, notified the Company that she will retire when her term ends and, therefore, not stand for re-election to the Board at the Company’s 2025 Annual Meeting of Shareholders.”
David M. Wright was appointed as Vice President, Corporate Controller & Chief Accounting Officer at ITRON, INC..
“On September 19, 2024, the Board of Directors of Itron, Inc. (Itron or the Company) approved the appointment of David M. Wright, 54, as the Company’s Vice President, Corporate Controller & Chief Accounting Officer.”
Shareholder Votes
ITRON, INC. shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the 2024 fiscal year at the 2024-05-09 meeting.
“Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the 2024 fiscal year. VOTES FOR VOTES AGAINST ABSTENTIONS 42,371,091 560,038 76,157”
Shareholder Votes
ITRON, INC. shareholders approved Approval of the amendment of the Itron, Inc. Third Amended and Restated 2010 Stock Incentive Plan at the 2024-05-09 meeting.
“Approval of the amendment of the Itron, Inc. Third Amended and Restated 2010 Stock Incentive Plan. VOTES FOR VOTES AGAINST ABSTENTIONS BROKER NON-VOTES 38,340,896 2,140,280 85,813 2,440,297”
Shareholder Votes
ITRON, INC. shareholders approved Approval of the advisory (non-binding) resolution relating to executive compensation at the 2024-05-09 meeting.
“Approval of the advisory (non-binding) resolution relating to executive compensation. VOTES FOR VOTES AGAINST ABSTENTIONS BROKER NON-VOTES 37,983,013 1,911,886 672,090 2,440,297”
Shareholder Votes
ITRON, INC. shareholders approved Election of Sanjay Mirchandani as Class 1 Director at the 2024-05-09 meeting.
“The following nominees for Director were elected until their successors are duly elected and qualified: NOMINEE VOTES FOR VOTES AGAINST ABSTENTIONS BROKER NON-VOTES Sanjay Mirchandani 40,385,780 97,466 83,743 2,440,297”
Earnings Releases
ITRON, INC. reported the second quarter of 2024 results: revenue $595 and $605 million, EPS $0.90 and $1.00. Guidance initiated.
“Revenue between $595 and $605 million Non-GAAP diluted EPS between $0.90 and $1.00”
Earnings Releases
ITRON, INC. reported the three months ended March 31, 2024 results: revenue $603 million, net income $52 million, EPS $1.12 per diluted share. Guidance reaffirmed.
“water, announced today financial results for its first quarter ended March 31, 2024. Key results for the quarter include (compared with the first quarter of 2023): Revenue of $603 million, increased 22%; Gross profit of $205 million, increased 31%; GAAP net income attributable to Itron, Inc. of $52 million, increased $64 million; GAAP diluted earnings per share of”
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