Filing Flows › Itron (ITRI) › Q3 2026 › vs Q2 2026
Itron (ITRI) Q3 2026 vs Q2 2026 (quarter over quarter)
Itron's revenue rose $36.4M (+6%) from $563M in Q2 2026 to $599M in Q3 2026. The biggest changes: Product revenues +$35.5M (+8%); Service revenues +$891K (+0.8%). Gross margin 40.9% against 41.0% (-0.1 pts).
Itron, Q3 2026: revenue $599M (+3% year over year), operating margin 15.9%, net earnings $71.4M, operating cash flow $102M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 40.9% | 41.0% | -0.1 pts |
| Operating margin | 15.9% | 13.5% | +2.4 pts |
| Net margin | 11.9% | 9.5% | +2.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Product revenues | $489M | $453M | $35.5M | +8% |
| Service revenues | $110M | $109M | $891K | +0.8% |
| Revenue | $599M | $563M | $36.4M | +6% |
| Gross profit | $245M | $231M | $14.2M | +6% |
| Cost of revenue | $354M | $332M | $22.2M | +7% |
| Operating profit | $95.5M | $76.1M | $19.4M | +26% |
| Operating expenses | $149M | $155M | −$5.2M | -3% |
| Pre-tax earnings | $97.0M | $80.2M | $16.8M | +21% |
| Research & development | $57.0M | $56.1M | $816K | +1% |
| SG&A | $84.1M | $89.7M | −$5.7M | -6% |
| Other operating costs | $8.4M | $8.7M | −$353K | -4% |
| Loss borne by minority interests | $98K | −$201K | $299K | — |
| Net earnings | $71.4M | $53.3M | $18.1M | +34% |
| Income tax | $25.8M | $26.7M | −$983K | -4% |
| Depreciation & amortization | $18.4M | $18.6M | −$186K | -1% |
| Share-based compensation | $12.2M | $12.2M | −$35K | -0.3% |
| Working capital & other | $67K | −$3.9M | $4.0M | — |
| Operating cash flow | $102M | $88.1M | $13.9M | +16% |
Questions
How much did Itron's revenue grow quarter over quarter in Q3 2026?
Itron's revenue rose $36.4M (+6%) from $563M in Q2 2026 to $599M in Q3 2026.
What drove Itron's revenue change in Q3 2026?
Product revenues +$35.5M (+8%); Service revenues +$891K (+0.8%).