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Itron Inc helps utilities and cities measure and manage electricity, gas and water infrastructure. Its meters and sensors collect data, communications networks carry it, and software helps customers use it to operate their infrastructure. Most revenue comes from Networked Solutions, which combines connected devices, networks, software and installation into complete systems. Utilities supply most of the company’s revenue.
Customers pay for standalone purchases or projects delivered over several years. Itron also sells meters separately and earns ongoing fees from managed networks, software subscriptions and support. Its Outcomes offerings analyze data and manage devices and networks for customers, generating primarily recurring revenue.
The business depends on utilities’ investment budgets, lengthy purchasing and regulatory approval processes, and deployment schedules rather than one dominant customer. Deliveries also depend on components that sometimes come from limited or sole suppliers. Radio-frequency rules constrain its wireless products: in the United States, its typical smart-meter devices use unlicensed spectrum, where they must accept interference and cannot interfere with licensed users.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Itron’s results hinge on utilities’ smart-meter and network deployments; key competitors to watch beyond this list are Landis+Gyr and Xylem.
Hubbell competes with Itron for utilities’ smart-meter and communications spending, while also selling grid components funded by their infrastructure investment. Watch its smart-meter and communications business for signs of demand relevant to Itron, rather than treating all grid-component sales as the same market.
Badger Meter competes with Itron to sell water utilities meters, connected measurement systems and software. Its Utility Water line accounted for approximately 89% of net sales in 2025, making that business a focused place to watch demand in Itron’s water market.
Mueller Water Products competes with Itron for utilities’ water-meter purchases, but also sells water-distribution infrastructure to municipalities. Its metering news is more directly relevant to Itron than sales of products such as valves and hydrants.
Badger Meter, Inc. earningsBMI
Badger Meter's report will show demand from water utilities for meters and connected measurement systems, a market where Itron also competes for orders.
Focus on Badger Meter's Utility Water business. Strength there would suggest water utilities are still buying meters and connected systems, a favorable demand signal for Itron's related sales. Weakness would point to delayed purchases or deployments and pressure in the water-meter market.
Itron Inc earningsThis company
Itron sells smart meters, communications networks and software to utilities, and this report will show whether those sales can grow while protecting margins.
Compare Networked Solutions revenue with its segment margin, the share of revenue left after costs. Revenue growth with a firm margin would show that utility deployments are becoming profitable sales; weaker revenue or margin would point to demand, product mix, or delivery costs holding that business back.
Hubbell Incorporated earningsHUBB
Hubbell's report will show utility spending on smart meters and communications, the same kind of investment that brings demand for Itron's networked solutions.
Watch Hubbell's smart-meter and communications business, not its grid-component sales as a whole. Strength there would show utilities still funding smart-metering and communications, supporting demand for Itron's networked solutions; weakness would point to more cautious spending and a less supportive market.
Fed Interest Rate Decision
For Itron, the Fed’s decision on its benchmark interest rate matters because higher borrowing rates can raise the cost of refinancing its debt and of future borrowing used to support its liquidity.
Expected4.0%Last release4.0%
If it comes in above expectations
If the Fed sets a higher rate than expected, refinancing and new borrowing may cost Itron more, leaving less cash available for operations and other commitments.
If it comes in below expectations
If the Fed sets a lower rate than expected, refinancing and new borrowing may cost Itron less, easing pressure on cash available for operations and other commitments.
