Resource management provider Itron (NASDAQ:ITRI) will be reporting results tomorrow before market open. Here’s what to expect.
Itron beat analysts’ revenue expectations by 3% last quarter, reporting revenues of $615.5 million, up 9.8% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
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 4.4% year on year to $602.8 million, slowing from the 23.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.05 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 three times over the last two years.
Looking at Itron’s peers in the inspection instruments segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 5.4%, beating analysts’ expectations by 3.6%, and Mirion reported revenues up 10.4%, topping estimates by 3.8%. Teledyne traded up 7.2% following the results while Mirion was also up 1.3%.
Read our full analysis of Teledyne’s results here and Mirion’s results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, have had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the inspection instruments stocks have shown solid performance, the group has generally underpeformed, with share prices down 5.8% on average over the last month. Itron is down 9.6% during the same time and is heading into earnings with an average analyst price target of $127.62 (compared to the current share price of $95.50).
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