Filing Flows › Itron (ITRI) › Q2 2026
Itron (ITRI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 28, 2026
Itron (ITRI) reported revenue of $563M for the second quarter 2026 (Q2 2026), -7% from a year earlier and -4% from the quarter before. Operating margin was 13.5%, net earnings $53.5M (9.5% of revenue).
Itron, Q2 2026: revenue $563M (-7% year over year), operating margin 13.5%, net earnings $53.5M, operating cash flow $88.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $563M | -4% | -7% |
| Gross profit | $231M | -2% | +3% |
| Operating profit | $76.1M | +13% | -0.5% |
| Net earnings | $53.5M | -0.2% | -22% |
| Operating cash flow | $88.1M | +3% | -9% |
| Free cash flow | $81.5M | — | -10% |
What changed
Revenue was $562.9M in Q2 2026, down 7% year over year and down 4% from the previous quarter. Product revenues was the largest line at 81% of revenue. Product revenues lost $63.7M year over year (down 12%), 145% of the total change.
Gross margin was 41.0%, up 4.1 points from Q2 2025. Operating profit was $76.1M, a 13.5% margin (up 0.9 points year over year). Operating expenses grew 5% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+51%). Net earnings were $53.3M, down 22% year over year. The effective tax rate was 33.3%.
Operating cash flow was $88.1M (down 9% year over year), 165% of net earnings. Non-cash charges added back $18.6M of depreciation and amortization and $12.2M of share-based compensation. After acquisitions of property, plant, and equipment ($6.6M), free cash flow as the company reports it was $81.5M.
Questions
What was Itron's revenue in the second quarter 2026?
Itron (ITRI) reported revenue of $563M for the second quarter 2026 (Q2 2026), -7% from a year earlier and -4% from the quarter before.
Was Itron profitable in the second quarter 2026?
Operating profit was $76.1M (13.5% of revenue) and net earnings $53.5M.
Source: Itron 10-Q on SEC EDGAR.