Resource management provider Itron (NASDAQ:ITRI) will be announcing earnings results tomorrow before market open. Here’s what investors should know.
Itron beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $612.9 million, up 6.2% year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations.
Is Itron a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Itron’s revenue to grow 1.8% year on year to $614.1 million, slowing from the 22% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.32 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Itron has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Itron’s peers in the inspection instruments segment, some have already reported their Q1 results, giving us a hint as to what we can expect. FARO’s revenues decreased 1.6% year on year, beating analysts’ expectations by 3.3%, and Badger Meter reported revenues up 13.2%, in line with consensus estimates. FARO traded up 19.4% following the results while Badger Meter was also up 8.8%.
Read our full analysis of FARO’s results here and Badger Meter’s results here.
Investors in the inspection instruments segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Itron is up 5.4% during the same time and is heading into earnings with an average analyst price target of $129.77 (compared to the current share price of $111.60).
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