ITRON INC
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
ITRI$99.97+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| In thousands, except per share data | 2024 | 2023 | 2024 | 2023 |
| Revenues | ||||
| Product revenues | $538,249 | $480,355 | $1,598,978 | $1,361,482 |
| Service revenues | 77,213 | 80,417 | 228,995 | 234,978 |
| Total revenues | 615,462 | 560,772 | 1,827,973 | 1,596,460 |
| Cost of revenues | ||||
| Product cost of revenues | 362,579 | 332,035 | 1,076,033 | 951,666 |
| Service cost of revenues | 43,285 | 41,534 | 126,503 | 127,276 |
| Total cost of revenues | 405,864 | 373,569 | 1,202,536 | 1,078,942 |
| Gross profit | 209,598 | 187,203 | 625,437 | 517,518 |
| Operating expenses | ||||
| Sales, general and administrative | 79,639 | 76,576 | 254,023 | 231,176 |
| Research and development | 51,237 | 51,644 | 156,691 | 154,769 |
| Amortization of intangible assets | 4,814 | 4,663 | 13,311 | 14,433 |
| Restructuring | (723) | (615) | (624) | 36,868 |
| Loss on sale of business | 698 | 45 | 656 | 675 |
| Total operating expenses | 135,665 | 132,313 | 424,057 | 437,921 |
| Operating income | 73,933 | 54,890 | 201,380 | 79,597 |
| Other income (expense) | ||||
| Interest income | 13,420 | 2,642 | 22,394 | 5,968 |
| Interest expense | (5,605) | (2,445) | (9,788) | (6,479) |
| Other income (expense), net | 677 | 646 | 695 | (1,162) |
| Total other income (expense) | 8,492 | 843 | 13,301 | (1,673) |
| Income before income taxes | 82,425 | 55,733 | 214,681 | 77,924 |
| Income tax provision | (3,515) | (15,388) | (32,124) | (24,513) |
| Net income | 78,910 | 40,345 | 182,557 | 53,411 |
| Net income attributable to noncontrolling interests | 951 | 173 | 1,559 | 874 |
| Net income attributable to Itron, Inc. | $77,959 | $40,172 | $180,998 | $52,537 |
| Net income per common share - Basic | $1.73 | $0.88 | $3.98 | $1.16 |
| Net income per common share - Diluted | $1.70 | $0.87 | $3.91 | $1.15 |
| Weighted average common shares outstanding - Basic | 44,982 | 45,462 | 45,458 | 45,393 |
| Weighted average common shares outstanding - Diluted | 45,839 | 45,950 | 46,239 | 45,768 |
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