Stock Track | Itron Plummets 7.01% Intraday on Weak Q1 Results and Soft Q2 Outlook

Stock Track04-28 21:53

Itron's stock plummeted 7.01% during Tuesday's intraday trading session, following the release of its first-quarter 2026 financial results and second-quarter guidance that disappointed investors.

The energy and water management technology company reported a significant 18.46% year-over-year decline in GAAP net income to $53 million, with revenue falling 3% to $587 million. The decrease was primarily driven by portfolio optimization and the timing of project deployments across its business segments.

While the company's adjusted earnings per share of $1.49 exceeded analyst expectations, investor sentiment turned negative due to the weaker GAAP results and a second-quarter revenue outlook of $560 million to $570 million, along with projected non-GAAP diluted EPS between $1.25 and $1.35, both below market expectations.

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