Filing Flows › Itron (ITRI) › Q3 2026
Itron (ITRI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
Itron (ITRI) reported revenue of $599M for the third quarter 2026 (Q3 2026), +3% from a year earlier and +6% from the quarter before. Operating margin was 15.9%, net earnings $71.4M (11.9% of revenue).
Itron, Q3 2026: revenue $599M (+3% year over year), operating margin 15.9%, net earnings $71.4M, operating cash flow $102M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $599M | +6% | +3% |
| Gross profit | $245M | +6% | +12% |
| Operating profit | $95.5M | +26% | +17% |
| Net earnings | $71.4M | +34% | +9% |
| Operating cash flow | $102M | +16% | -13% |
| Free cash flow | $95.5M | — | -16% |
What changed
Revenue was $599.3M in Q3 2026, up 3% year over year and up 6% from the previous quarter. Product revenues was the largest line at 82% of revenue. Service revenues added $23.0M year over year (up 26%), 130% of the total change. Product revenues declined 1%.
Gross margin was 40.9%, up 3.1 points from Q3 2025. Operating profit was $95.5M, a 15.9% margin (up 1.9 points year over year). Of the extra revenue versus Q3 2025, 77% reached operating profit, above the 14% margin then. Operating expenses grew 8% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+82%). Net earnings were $71.4M, up 9% year over year. The effective tax rate was 26.5%.
Operating cash flow was $102.0M (down 13% year over year), 143% of net earnings. Non-cash charges added back $18.4M of depreciation and amortization and $12.2M of share-based compensation. After acquisitions of property, plant, and equipment ($6.4M), free cash flow as the company reports it was $95.5M.
Questions
What was Itron's revenue in the third quarter 2026?
Itron (ITRI) reported revenue of $599M for the third quarter 2026 (Q3 2026), +3% from a year earlier and +6% from the quarter before.
Was Itron profitable in the third quarter 2026?
Operating profit was $95.5M (15.9% of revenue) and net earnings $71.4M.
Source: Itron 10-Q on SEC EDGAR.