Filing Flows › Itron (ITRI) › Q2 2025
Itron (ITRI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Itron (ITRI) reported revenue of $607M for the second quarter 2025 (Q2 2025), -0.4% from a year earlier and -0.1% from the quarter before. Operating margin was 12.6%, net earnings $68.8M (11.3% of revenue).
Itron, Q2 2025: revenue $607M (-0.4% year over year), operating margin 12.6%, net earnings $68.8M, operating cash flow $96.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $607M | -0.1% | -0.4% |
| Gross profit | $224M | +3% | +6% |
| Operating profit | $76.4M | +0.3% | +18% |
| Net earnings | $68.8M | +5% | +33% |
| Operating cash flow | $96.7M | +34% | +87% |
| Free cash flow | $90.7M | — | +103% |
What changed
Revenue was $606.8M in Q2 2025, roughly flat year over year and roughly flat from the previous quarter. Product revenues was the largest line at 85% of revenue. Product revenues lost $15.7M year over year (down 3%), 681% of the total change.
Gross margin was 36.9%, up 2.3 points from a year earlier. Operating profit was $76.4M, a 12.6% margin (up 2.0 points year over year). Operating expenses grew 1% against flat revenue. The fastest-growing cost line was Other operating costs (+33%). Net earnings were $68.3M, up 33% year over year. The effective tax rate was 17.6%.
Operating cash flow was $96.7M (up 87% year over year), 141% of net earnings. Non-cash charges added back $12.1M of depreciation and amortization and $16.8M of share-based compensation. After acquisitions of property, plant, and equipment ($6.0M), free cash flow as the company reports it was $90.7M.
Questions
What was Itron's revenue in the second quarter 2025?
Itron (ITRI) reported revenue of $607M for the second quarter 2025 (Q2 2025), -0.4% from a year earlier and -0.1% from the quarter before.
Was Itron profitable in the second quarter 2025?
Operating profit was $76.4M (12.6% of revenue) and net earnings $68.8M.
Source: Itron 10-Q on SEC EDGAR.