Itron Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Itron, Inc. (ITRI) reported third quarter non-GAAP earnings per share of $0.61, compared to $1.04, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.25, for the quarter. Analysts' estimates typically exclude special items.

Third quarter revenue was $540 million, compared to $624 million, previous year. Analysts expected revenue of $539.39 million, for the quarter. The company said the decrease was primarily due to lower customer demand and operating constraints resulting from COVID-19.

"While still being negatively impacted by the COVID-19 pandemic, our results have improved sequentially from the second quarter low point," said Tom Deitrich, CEO.

The company said it remains on track to achieve its second half 2020 expectations.