Itron Misses Where It Counts
Itron (NAS: ITRI) reported earnings on April 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Itron beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share dropped.
Margins dropped across the board.
Itron recorded revenue of $571.6 million. The 21 analysts polled by S&P Capital IQ anticipated net sales of $548.7 million on the same basis. GAAP reported sales were 1.4% higher than the prior-year quarter's $563.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.91. The 24 earnings estimates compiled by S&P Capital IQ forecast $0.93 per share on the same basis. GAAP EPS of $0.63 for Q1 were 4.5% lower than the prior-year quarter's $0.66 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 32.0%, 70 basis points worse than the prior-year quarter. Operating margin was 7.1%, 180 basis points worse than the prior-year quarter. Net margin was 4.4%, 40 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $564.1 million. On the bottom line, the average EPS estimate is $1.01.
Next year's average estimate for revenue is $2.22 billion. The average EPS estimate is $3.97.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 530 members out of 552 rating the stock outperform, and 22 members rating it underperform. Among 136 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 131 give Itron a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Itron is outperform, with an average price target of $49.20.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.