Stock Story -
Resource management provider Itron (NASDAQGS:ITRI) will be reporting results tomorrow morning. Here's what to expect.
Itron beat analysts' revenue expectations by 4.2% last quarter, reporting revenues of $603.4 million, up 22% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Itron a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Itron's revenue to grow 10.8% year on year to $599.3 million, slowing from the 25.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.96 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Itron has missed Wall Street's revenue estimates twice over the last two years.
Looking at Itron's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 23.2%, beating analysts' expectations by 6.5%, and Teledyne reported a revenue decline of 3.6%, topping estimates by 1.1%. Badger Meter traded up 3.7% following the results while Teledyne was also up 3.3%.
Read the full analysis of Badger Meter's and Teledyne's results on StockStory.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 9.4% on average over the last month. Itron is up 2.5% during the same time and is heading into earnings with an average analyst price target of $116.5 (compared to the current share price of $101.25).
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