Itron Shares Touch New High After Better-than-expected Q4 Results And Outlook Top Estimates

(RTTNews) - Shares of Itron, Inc. (ITRI), a technology and services company, are climbing more than 13 percent Monday morning after reporting upbeat fourth-quarter results. The company also provided first-quarter as well as full-year outlook above the Street view.

The company reported a profit of $44.39 million or $0.96 per share, higher than $22.21 million or $0.49 per share in the prior-year quarter.

Excluding items, earnings were $1.23 per share, well above the average estimate of analysts polled by Thomson-Reuters of $0.75 per share.

Total revenues for the quarter increased 23 percent to $577.17 million from $467.49 million in the same quarter last year. The consensus estimate was for $570.23 million.

Looking ahead to the first quarter, the company expects adjusted earnings in a range of $0.80 to $0.90 per share on revenues between $575 million and $585 million.

Analysts are expecting earnings of $0.58 per share on revenues of $541.74 million for the quarter.

For fiscal 2024, the company projects adjusted earnings in a range of $3.40 to $3.80 per share on revenues between $2.275 billion and $2.375 billion. The Street is looking for earnings of $3.12 per share on revenues of $2.29 billion for the year.

ITRI, currently at $84.63, touched a ne high of $93.97 this morning.