Itron Q1 2026 revenue falls 3% to $587 million; GAAP EPS down to $1.18
Itron reported first-quarter 2026 revenue of $587 million, down 3% from a year earlier, as portfolio optimization and project timing reduced sales. GAAP diluted EPS fell to $1.18 from $1.42, and non-GAAP diluted EPS fell to $1.49 from $1.52, though adjusted EBITDA rose 5% to $92 million and free cash flow rose to $79 million. For the second quarter of 2026, Itron guided to revenue of $560 million to $570 million and non-GAAP diluted EPS of $1.25 to $1.35.
Key points
- Q1 2026 revenue was $587 million, down 3%; Networked Solutions revenue fell 13% and Outcomes revenue rose 22%.
- GAAP net income attributable to Itron was $53 million, or $1.18 per diluted share, versus $65 million, or $1.42, a year earlier.
- Adjusted gross margin rose to 40.7% from 35.8%; free cash flow was $79 million, up from $67 million.
- Q2 2026 outlook: revenue of $560 million to $570 million and non-GAAP diluted EPS of $1.25 to $1.35.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.