Filing Flows › Itron (ITRI) › Q1 2025
Itron (ITRI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Itron (ITRI) reported revenue of $607M for the first quarter 2025 (Q1 2025), +0.6% from a year earlier and -0.9% from the quarter before. Operating margin was 12.6%, net earnings $65.3M (10.8% of revenue).
Itron, Q1 2025: revenue $607M (+0.6% year over year), operating margin 12.6%, net earnings $65.3M, operating cash flow $72.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $607M | -0.9% | +0.6% |
| Gross profit | $217M | +2% | +6% |
| Operating profit | $76.2M | +21% | +21% |
| Net earnings | $65.3M | +12% | +26% |
| Operating cash flow | $72.1M | -10% | +75% |
| Free cash flow | $67.5M | — | +98% |
What changed
Revenue was $607.2M in Q1 2025, up 1% year over year and down 1% from the previous quarter. Product revenues was the largest line at 86% of revenue. Service revenues added $8.4M year over year (up 11%), 226% of the total change. Product revenues declined 1%.
Gross margin was 35.8%, up 1.7 points from a year earlier. Operating profit was $76.2M, a 12.6% margin (up 2.1 points year over year). Of the extra revenue versus a year earlier, 362% reached operating profit, above the 10% margin then. Operating expenses fell 1% while revenue rose 1%. Net earnings were $65.5M, up 27% year over year. The effective tax rate was 20.6%.
Operating cash flow was $72.1M (up 75% year over year), 110% of net earnings. Non-cash charges added back $12.1M of depreciation and amortization and $16.6M of share-based compensation. Working capital and other items used $21.9M. After acquisitions of property, plant, and equipment ($4.6M), free cash flow as the company reports it was $67.5M.
Questions
What was Itron's revenue in the first quarter 2025?
Itron (ITRI) reported revenue of $607M for the first quarter 2025 (Q1 2025), +0.6% from a year earlier and -0.9% from the quarter before.
Was Itron profitable in the first quarter 2025?
Operating profit was $76.2M (12.6% of revenue) and net earnings $65.3M.
Source: Itron 10-Q on SEC EDGAR.