Earnings To Watch: Itron (ITRI) Reports Q2 Results Tomorrow

Resource management provider Itron (NASDAQ:ITRI) will be announcing earnings results this Thursday morning. Here’s what to expect.

Itron missed analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $607.2 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income 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 be flat year on year at $608.8 million, slowing from the 12.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.33 per share.

The majority of analysts covering the company have 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 electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Teledyne delivered year-on-year revenue growth of 10.2%, beating analysts’ expectations by 2.7%, and Badger Meter reported revenues up 9.9%, topping estimates by 0.6%. Teledyne traded down 1% following the results while Badger Meter was also down 21.7%.

Read our full analysis of Teledyne’s results here and Badger Meter’s results here.

There has been positive sentiment among investors in the electrical equipment segment, with share prices up 5.5% on average over the last month. Itron is up 3.8% during the same time and is heading into earnings with an average analyst price target of $136.91 (compared to the current share price of $136.62).

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