Itron: Q3 Earnings Snapshot
LIBERTY LAKE, Wash. (AP) — LIBERTY LAKE, Wash. (AP) — Itron Inc. (ITRI) on Thursday reported third-quarter profit of $40.2 million.
The Liberty Lake, Washington-based company said it had net income of 87 cents per share. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The energy and water meter company posted revenue of $560.8 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $540.8 million.
For the current quarter ending in December, Itron expects its per-share earnings to range from 70 cents to 80 cents.
The company said it expects revenue in the range of $565 million to $575 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $497.7 million.
Itron expects full-year earnings in the range of $2.83 to $2.93 per share, with revenue ranging from $2.16 billion to $2.17 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITRI at https://www.zacks.com/ap/ITRI