Itron Surges After Q4 2025 Earnings Beat Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 17 2026
0mins
Should l Buy ITRI?
Source: Fool
- Earnings Beat: Itron reported Q4 2025 revenue of $572 million, surpassing analyst expectations of $561.5 million, with adjusted EPS of $2.46 exceeding the forecast of $2.19, indicating robust market performance and profitability.
- Cash Flow Surge: The company generated free cash flow of $111.5 million in Q4, a 58.9% year-over-year increase, which not only boosts investor confidence but also provides funding for future investments and expansions.
- Business Growth Highlight: Itron's Outcomes segment grew by 23%, achieving a record revenue level for that segment, underscoring the company's leadership in smart cities and modern grid solutions, thereby enhancing its competitive position.
- Valuation Consideration: Currently trading at a forward P/E of 16.5, Itron's stock appears reasonably priced; however, given its historical underperformance relative to the S&P 500, investors should carefully assess potential risks before investing.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ITRI?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ITRI
Wall Street analysts forecast ITRI stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 96.180
Low
125.00
Averages
134.50
High
145.00
Current: 96.180
Low
125.00
Averages
134.50
High
145.00
About ITRI
Itron, Inc. provides energy, water, smart city, Industrial Internet of Things (IIoT) and intelligent infrastructure services. The Company's Device Solutions segment primarily includes hardware products used for measurement, control, or sensing that can have communications capability embedded for use with its broader Itron systems, which is hardware-based products. Its Networked Solutions segment primarily includes a combination of communicating devices (smart meters, modules, endpoints, and sensors), network infrastructure, network design services, and associated head-end management and application software designed and sold as a complete solution for acquiring and transporting application-specific data. Its Outcomes segment includes its value-added, enhanced software and services, in which it enables grid edge intelligence and manage, organize, analyze, and interpret raw, anonymized data using artificial intelligence, machine learning, statistical modeling, and other analytics.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, including upgrades, downgrades, and initiations, reflecting varying market perspectives and future expectations for these firms.
- Market Reaction Insight: While specific company names are not disclosed, such rating changes typically influence investor confidence, thereby directly impacting the market performance of the related stocks.
- Investor Decision Guidance: Investors considering buying REGN stock can refer to the latest analyst ratings and market analyses to make more informed investment decisions.
- Enhanced Information Transparency: By providing a comprehensive view of analyst rating changes, Benzinga enhances market information transparency, enabling investors to better understand market dynamics and potential investment opportunities.
See More
Major Wall Street Rating Changes Overview
- Union Pacific Upgrade: Baird upgraded Union Pacific from neutral to outperform with a price target of $311, suggesting investors should capitalize on share weakness to increase exposure, reflecting optimism about potential synergies from upcoming transactions.
- Netflix Revenue Growth Outlook: CFRA upgraded Netflix from hold to buy, projecting an additional revenue growth of $1.5 billion to $3 billion by 2026 driven by member growth and advertising, underscoring its leadership position in the streaming industry.
- First Advantage Benefits from Job Market: Barclays upgraded First Advantage from equal weight to overweight, citing the company's advantage in a resilient job market for background checks, indicating confidence in its future growth prospects.
- Marvell Technology Growth Acceleration: Bank of America upgraded Marvell Technology from neutral to buy with a price target raised to $118, driven by strong demand for AI optical connectivity and the upcoming Microsoft custom chip program, reflecting a positive outlook on its earnings potential.
See More
Itron Inc. Prices $700 Million Convertible Notes Offering
- Increased Offering Size: Itron has raised the size of its convertible notes offering from $600 million to $700 million, reflecting strong market interest in its financing needs, with settlement expected on February 26, 2026, enhancing the company's liquidity.
- Favorable Conversion Terms: The initial conversion price of approximately $123.77 per share represents a 30% premium over the last reported stock price of $95.21, providing investors with potential capital appreciation opportunities while laying the groundwork for future equity structure optimization.
- Clear Use of Proceeds: The company anticipates net proceeds of about $681.1 million from the offering, with approximately $80.7 million allocated for capped call transaction costs, thereby improving capital efficiency and reducing potential dilution risks.
- Market Reaction Expectations: Itron intends to use around $100 million of the net proceeds to repurchase 1,050,309 shares of its common stock, a move that could boost stock prices and enhance investor confidence, indicating the company's recognition of its stock value.
See More
Itron Plans to Offer $600 Million Convertible Senior Notes
- Financing Plan: Itron announced its intention to privately place $600 million in convertible senior notes due 2032, aiming to attract qualified institutional buyers and strengthen its capital structure.
- Additional Purchase Option: The company plans to grant initial purchasers an option to buy an additional $90 million of the notes within a 13-day period post-issuance, providing flexibility for future capital needs.
- Use of Proceeds: Itron expects to use part of the proceeds for capped call transactions to mitigate potential dilution from note conversions, while also planning to repurchase up to $125 million in shares to enhance shareholder value.
- Debt Management: The remaining proceeds will be allocated to repaying its 0.00% convertible senior notes due 2026 and for general corporate purposes, reflecting the company's strategic intent to optimize its capital structure and financial flexibility.
See More
Itron Upgraded to Outperform by Baird with $128 Price Target
- Earnings Beat: Itron's Q4 earnings exceeded analyst expectations, resulting in a 3.1% stock price increase on Wednesday, highlighting the company's robust performance in energy and water management.
- Rating Upgrade: Baird upgraded Itron from Neutral to Outperform, raising the price target from $118 to $128, reflecting confidence in the company's future growth potential.
- Market Opportunity: Analysts noted that while the pace of order conversion may differ from historical patterns, the utilities' need for grid modernization will drive Itron's business growth, enhancing its competitive position in the market.
- Short-term Challenges: Despite the risk of slower order conversion in the near term, Baird analysts remain confident in Itron's book-and-ship business model, asserting that infrastructure upgrades are an inevitable trend.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several stocks, including upgrades, downgrades, and initiations, reflecting varying market perspectives that could influence investor decisions.
- Market Dynamics Overview: While specific stock names are not mentioned, analyst rating changes typically have a direct impact on the stock prices of the affected companies, prompting investors to closely monitor these shifts to optimize their portfolios.
- Impact of Rating Changes: Adjustments in analyst ratings can lead to fluctuations in market sentiment, particularly when investor expectations shift regarding certain stocks, thereby affecting trading activity in the short term.
- Investor Focus: Investors are encouraged to visit the analyst ratings page for a comprehensive view of rating changes, aiding them in making more informed investment decisions.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, including upgrades, downgrades, and initiations, reflecting varying market perspectives and future expectations for these firms.
- Market Reaction Insight: While specific company names are not disclosed, such rating changes typically influence investor confidence, thereby directly impacting the market performance of the related stocks.
- Investor Decision Guidance: Investors considering buying REGN stock can refer to the latest analyst ratings and market analyses to make more informed investment decisions.
- Enhanced Information Transparency: By providing a comprehensive view of analyst rating changes, Benzinga enhances market information transparency, enabling investors to better understand market dynamics and potential investment opportunities.
See More
Major Wall Street Rating Changes Overview
- Union Pacific Upgrade: Baird upgraded Union Pacific from neutral to outperform with a price target of $311, suggesting investors should capitalize on share weakness to increase exposure, reflecting optimism about potential synergies from upcoming transactions.
- Netflix Revenue Growth Outlook: CFRA upgraded Netflix from hold to buy, projecting an additional revenue growth of $1.5 billion to $3 billion by 2026 driven by member growth and advertising, underscoring its leadership position in the streaming industry.
- First Advantage Benefits from Job Market: Barclays upgraded First Advantage from equal weight to overweight, citing the company's advantage in a resilient job market for background checks, indicating confidence in its future growth prospects.
- Marvell Technology Growth Acceleration: Bank of America upgraded Marvell Technology from neutral to buy with a price target raised to $118, driven by strong demand for AI optical connectivity and the upcoming Microsoft custom chip program, reflecting a positive outlook on its earnings potential.
See More
Itron Inc. Prices $700 Million Convertible Notes Offering
- Increased Offering Size: Itron has raised the size of its convertible notes offering from $600 million to $700 million, reflecting strong market interest in its financing needs, with settlement expected on February 26, 2026, enhancing the company's liquidity.
- Favorable Conversion Terms: The initial conversion price of approximately $123.77 per share represents a 30% premium over the last reported stock price of $95.21, providing investors with potential capital appreciation opportunities while laying the groundwork for future equity structure optimization.
- Clear Use of Proceeds: The company anticipates net proceeds of about $681.1 million from the offering, with approximately $80.7 million allocated for capped call transaction costs, thereby improving capital efficiency and reducing potential dilution risks.
- Market Reaction Expectations: Itron intends to use around $100 million of the net proceeds to repurchase 1,050,309 shares of its common stock, a move that could boost stock prices and enhance investor confidence, indicating the company's recognition of its stock value.
See More
Itron Plans to Offer $600 Million Convertible Senior Notes
- Financing Plan: Itron announced its intention to privately place $600 million in convertible senior notes due 2032, aiming to attract qualified institutional buyers and strengthen its capital structure.
- Additional Purchase Option: The company plans to grant initial purchasers an option to buy an additional $90 million of the notes within a 13-day period post-issuance, providing flexibility for future capital needs.
- Use of Proceeds: Itron expects to use part of the proceeds for capped call transactions to mitigate potential dilution from note conversions, while also planning to repurchase up to $125 million in shares to enhance shareholder value.
- Debt Management: The remaining proceeds will be allocated to repaying its 0.00% convertible senior notes due 2026 and for general corporate purposes, reflecting the company's strategic intent to optimize its capital structure and financial flexibility.
See More
Itron Upgraded to Outperform by Baird with $128 Price Target
- Earnings Beat: Itron's Q4 earnings exceeded analyst expectations, resulting in a 3.1% stock price increase on Wednesday, highlighting the company's robust performance in energy and water management.
- Rating Upgrade: Baird upgraded Itron from Neutral to Outperform, raising the price target from $118 to $128, reflecting confidence in the company's future growth potential.
- Market Opportunity: Analysts noted that while the pace of order conversion may differ from historical patterns, the utilities' need for grid modernization will drive Itron's business growth, enhancing its competitive position in the market.
- Short-term Challenges: Despite the risk of slower order conversion in the near term, Baird analysts remain confident in Itron's book-and-ship business model, asserting that infrastructure upgrades are an inevitable trend.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several stocks, including upgrades, downgrades, and initiations, reflecting varying market perspectives that could influence investor decisions.
- Market Dynamics Overview: While specific stock names are not mentioned, analyst rating changes typically have a direct impact on the stock prices of the affected companies, prompting investors to closely monitor these shifts to optimize their portfolios.
- Impact of Rating Changes: Adjustments in analyst ratings can lead to fluctuations in market sentiment, particularly when investor expectations shift regarding certain stocks, thereby affecting trading activity in the short term.
- Investor Focus: Investors are encouraged to visit the analyst ratings page for a comprehensive view of rating changes, aiding them in making more informed investment decisions.
See More
