# Itron Reports Revenue Growth and Higher Quarterly Earnings

The October 27 results show $599 million in revenue and $1.61 in reported diluted earnings per share.

By Will Langan | 24X7 News
Published: 2026-10-27T15:10:57.644Z
Updated: 2026-10-27T15:10:57.644Z
Section: Business
Format: News
Canonical: https://24x7news.us/articles/itron-third-quarter-2026-results-utility-technology

Itron reported on October 27 that third-quarter revenue rose 3% to $599 million, with services helping offset declines in parts of its equipment business.

The utility-technology company reported net income of $71 million and diluted earnings of $1.61 per share, compared with $66 million and $1.41 a year earlier. Its adjusted diluted earnings, which exclude specified costs and gains, were $1.94 per share, up from $1.54.

Outcomes revenue increased 9%, driven by services. Device Solutions revenue fell 2%, while Networked Solutions declined 1%; Itron attributed the latter change to project-deployment timing.

Annual recurring revenue reached $423 million, up 25%. That recurring measure is distinct from total quarterly revenue. The company reported $96 million in free cash flow and a $4.3 billion backlog.

For the fourth quarter, management projects $621 million–$636 million in revenue and $1.70–$1.80 in adjusted diluted earnings per share. Those figures are forecasts. The release presents company-reported results, rather than an independent assessment of future utility spending.

Source:
Itron third-quarter results: https://investors.itron.com/news-releases/news-release-details/itron-announces-third-quarter-2026-financial-results

## Sources
- Itron third-quarter results release: https://investors.itron.com/news-releases/news-release-details/itron-announces-third-quarter-2026-financial-results