Laurie Ann Pulatie-Hahn, Senior Vice President of Human Resources at Itron, Inc. (NASDAQ:ITRI), reported a sale of 78 shares of the company's common stock. The shares were sold on November 11, 2024, at a price of $123.2381 per share, totaling approximately $9,612. This transaction was carried out to cover tax withholding obligations associated with the vesting of a restricted stock unit award. Following the sale, Pulatie-Hahn holds 17,713 shares of Itron stock.
In other recent news, Itron reported a strong third-quarter performance with a notable 10% increase in revenue year-over-year, reaching $615 million. The company's adjusted EBITDA stood at $89 million, with non-GAAP earnings per share of $1.84. Looking ahead, Itron expects fourth-quarter revenue to fall between $600 million and $610 million, and projects full-year revenue to be between $2.428 billion and $2.438 billion, a 12% increase from the previous year.
Itron's backlog has grown to $4 billion with bookings of $487 million. The company's non-GAAP earnings per share for the full year are anticipated to be $5.28 to $5.38, a significant 59% increase from 2023. Despite challenges in projecting growth for 2025, Itron remains optimistic about its market demand and operational efficiency.
These recent developments suggest that Itron is on a positive trajectory. While the company anticipates a slight decline in Q4 revenue from Q3 due to accelerated shipments, it continues to actively pursue merger and acquisition opportunities to strengthen its grid edge intelligence platform. Itron's overall outlook remains positive, demonstrating its ability to navigate market challenges and capitalize on opportunities.
InvestingPro Insights
As Itron's Senior Vice President of Human Resources, Laurie Ann Pulatie-Hahn's recent stock transaction provides an opportunity to examine the company's current financial position and market performance.
According to InvestingPro data, Itron's stock has shown impressive momentum, with a 96.48% price total return over the past year and a strong 31.67% return in the last three months. This performance aligns with an InvestingPro Tip indicating that the stock is trading near its 52-week high, with the current price at 96.84% of that peak.
The company's financial health appears robust, with a market capitalization of $5.43 billion and a revenue of $2.41 billion over the last twelve months as of Q3 2024. Itron's revenue growth stands at 16.53% for the same period, suggesting steady expansion.
An InvestingPro Tip highlights that Itron is trading at a low P/E ratio relative to its near-term earnings growth, with a current P/E ratio of 24.4. This could indicate potential undervaluation, especially considering the company's strong recent performance and growth prospects.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for Itron, providing a deeper understanding of the company's financial position and market outlook.
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