Itron, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on October 27, 2026, reporting third-quarter total revenues of $599.3 million and net income attributable to Itron of $71.4 million.

Key Highlights

  • Total revenues of $599.333 million for Q3 2026, up from $581.625 million in Q3 2025, according to the filing.
  • Net income attributable to Itron, Inc. of $71.369 million for Q3 2026, compared with $65.613 million in the prior-year quarter.
  • Diluted earnings per share of $1.61 for Q3 2026, versus $1.41 in Q3 2025, as reported in the filing.
  • Total assets of $4.117 billion as of September 30, 2026, up from $3.721 billion at December 31, 2025, reflecting increases in goodwill and intangible assets.
  • Goodwill increased to $1.690 billion at September 30, 2026, from $1.345 billion at December 31, 2025.
  • Share repurchases of $152.234 million during the nine months ended September 30, 2026, comprising $100.0 million in Q1 and $52.234 million in Q2.
  • 43,860,429 shares outstanding as of October 23, 2026, the registrant disclosed on the cover page.

Itron's Third-Quarter 2026 Financial Results: Revenue Growth and Balance Sheet Changes

According to the filing, Itron, Inc. (NASDAQ:ITRI) reported total revenues of $599.333 million for the three months ended September 30, 2026, consisting of product revenues of $489.002 million and service revenues of $110.331 million. This compares with total revenues of $581.625 million in the same quarter of 2025, when product revenues were $494.323 million and service revenues were $87.302 million. Gross profit for Q3 2026 was $244.870 million, up from $219.545 million a year earlier, the filing showed.

Operating income for the quarter was $95.488 million, compared with $81.783 million in Q3 2025. The company reported operating expenses of $149.382 million for the quarter, which included sales, general and administrative costs of $84.067 million, research and development of $56.957 million, and amortization of intangible assets of $8.460 million. For the nine months ended September 30, 2026, total revenues were $1.749 billion versus $1.796 billion in the corresponding prior-year period, and net income attributable to Itron was $178.100 million compared with $199.427 million, according to the filing.

On the balance sheet, the filing disclosed that cash and cash equivalents stood at $840.323 million as of September 30, 2026, down from $1.020 billion at December 31, 2025. Long-term debt, net, rose to $1.577 billion from $788.805 million over the same period. Total equity was $1.719 billion at September 30, 2026. During the first two quarters of 2026, the company repurchased shares totaling $152.234 million and recorded payments on a call spread for a convertible offering, net of tax, of $70.373 million, as shown in the statements of equity.

What Was Disclosed

Itron, Inc. submitted its unaudited quarterly report covering the three and nine months ended September 30, 2026. The filing includes consolidated statements of operations, comprehensive income, balance sheets, equity, and cash flows, along with management's discussion and notes to financial statements.