Itron, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 26, 2024 at 08:30 am EST
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Itron, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 577.17 million compared to USD 467.49 million a year ago. Net income was USD 44.39 million compared to USD 22.21 million a year ago. Basic earnings per share from continuing operations was USD 0.98 compared to USD 0.49 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 0.49 a year ago.
For the full year, revenue was USD 2,173.63 million compared to USD 1,795.56 million a year ago. Net income was USD 96.92 million compared to net loss of USD 9.73 million a year ago. Basic earnings per share from continuing operations was USD 2.13 compared to basic loss per share from continuing operations of USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 2.11 compared to diluted loss per share from continuing operations of USD 0.22 a year ago.
Itron, Inc. provides energy, water, smart city, Industrial Internet of Things (IIoT) and intelligent infrastructure services. The Company operates in three segments. The Device Solutions segment primarily includes hardware products used for measurement, control, or sensing. Its Networked Solutions segment primarily includes a combination of communicating devices, network infrastructure, and associated head-end management and application software designed and sold as a complete solution for acquiring and transporting application-specific data. Its Outcomes segment includes its value-added, enhanced software and services, artificial intelligence, and machine learning in which it enable grid edge intelligence and manage, organize, analyze, and interpret raw, anonymized data to improve decision making. It is also engaged in embedding real-time, high-resolution grid edge data into the grid planning, operations and engineering process. Its solutions include technology, software and services.