Itron, Inc. income statement
In fiscal 2025, Itron, Inc. reported revenue of $2.37bn, down 3.0% on the year before, operating income of $313m (a 13.2% margin) and net income of $301m, or $6.50 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,687 | 2,259 | 2,434 | 2,178 | 1,938 | 1,948 | 1,884 | 2,013 | 2,018 | 2,376 | 2,502 | 2,173 | 1,982 | 1,796 | 2,174 | 2,441 | 2,367 | 2,321 |
| Cost of revenue | 1,150 | 1,559 | 1,688 | 1,463 | 1,323 | 1,334 | 1,327 | 1,351 | 1,341 | 1,646 | 1,750 | 1,571 | 1,408 | 1,273 | 1,460 | 1,602 | 1,475 | 1,377 |
| Gross profit | 537 | 701 | 746 | 715 | 615 | 614 | 557 | 663 | 677 | 730 | 752 | 602 | 573 | 522 | 714 | 839 | 892 | 944 |
| Research and development | 122 | 139 | 161 | 179 | 175 | 176 | 162 | 168 | 169 | 208 | 202 | 194 | 197 | 185 | 209 | 215 | 207 | 221 |
| Selling, general and administrative | — | — | — | — | — | — | — | 320 | 325 | 423 | 347 | 277 | 301 | 290 | 313 | 339 | 353 | 374 |
| Selling and marketing | 152 | 171 | 185 | 198 | 183 | 183 | 161 | — | — | — | — | — | — | — | — | — | — | — |
| General and administrative | 119 | 137 | 143 | 138 | 144 | 162 | 156 | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | 45 | 184 | −459 | 151 | −140 | 0 | 53 | 101 | 155 | −50 | 133 | −10 | −79 | −7 | 129 | 264 | 313 | 318 |
| Interest expense | 70 | 55 | 37 | 10 | 11 | 12 | 12 | 14 | 14 | 58 | 52 | 44 | 29 | 7 | 8 | 15 | 22 | 23 |
| Income before tax | −46 | 121 | −506 | 136 | −153 | −18 | 37 | 85 | 135 | −109 | 73 | −57 | −124 | −16 | 127 | 285 | 342 | 330 |
| Income tax | −44 | 16 | 4 | 26 | −2 | 4 | 22 | 50 | 74 | −13 | 21 | 0 | −46 | −6 | 29 | 43 | 39 | 49 |
| Net income | −2 | 105 | −510 | 108 | −153 | −24 | 13 | 32 | 57 | −99 | 49 | −58 | −81 | −10 | 97 | 239 | 301 | 280 |
| Diluted EPS | −$0.06 | $2.56 | −$12.56 | $2.71 | −$3.90 | −$0.60 | $0.33 | $0.82 | $1.45 | −$2.53 | $1.23 | −$1.44 | −$1.83 | −$0.22 | $2.11 | $5.18 | $6.50 | $6.20 |
| Diluted shares (average) | 39m | 41m | 41m | 40m | 39m | 39m | 39m | 39m | 39m | 39m | 40m | 40m | 44m | 45m | 46m | 46m | 46m | 45m |
| EBITDA | 201 | 315 | −330 | 261 | −41 | 99 | 129 | 169 | 218 | 73 | 247 | 87 | 5 | 59 | 185 | 320 | 363 | 387 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 613 | 607 | 607 | 582 | 572 | 587 | 563 | 599 |
| Cost of revenue | 399 | 390 | 383 | 362 | 340 | 351 | 332 | 354 |
| Gross profit | 214 | 217 | 224 | 220 | 232 | 236 | 231 | 245 |
| Research and development | 58 | 50 | 54 | 50 | 53 | 55 | 56 | 57 |
| Selling, general and administrative | 85 | 87 | 88 | 83 | 95 | 105 | 90 | 84 |
| Operating income | 63 | 76 | 76 | 82 | 79 | 68 | 76 | 95 |
| Interest expense | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Income before tax | 70 | 82 | 83 | 91 | 86 | 67 | 80 | 97 |
| Income tax | 11 | 17 | 15 | 24 | −17 | 14 | 27 | 26 |
| Net income | 58 | 65 | 68 | 66 | 102 | 53 | 53 | 71 |
| Diluted EPS | $1.27 | $1.42 | $1.47 | $1.41 | $2.20 | $1.18 | $1.19 | $1.61 |
| EBITDA | 78 | 88 | 89 | 94 | 92 | 86 | 95 | 114 |
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