Itron ( ITRI Quick Quote ITRI - Free Report) recently announced that Syarikat SESCO Berhad (“SESCO”), an affiliate of Malaysia-based Sarawak Energy, was implementing the company’s Industrial Internet of Things (IIoT) solutions. Sarawak Energy is a vertically-integrated power utility firm and one of Malaysia’s well-known energy development companies.
Itron’s Industrial IoT solution includes the company’s communications network for 180,000 Advanced Metering Infrastructure (AMI) endpoints, UtilityIQ (UIQ) Software-as-a-Service (SaaS) and Operations Optimizer solutions. Itron noted that the solution will help the energy company to slash costs and boost consumer engagement.
This is not the first time Itron and Sarawak Energy have collaborated. Earlier, Itron worked with Sarawak Energy’s project for the deployment and operation of Itron’s IIoT network, which also involved a pilot for 6,000 AMI endpoints in 2018. Moreover, Sarawak Energy is utilizing the company’s Network-as-a-Service (NaaS) offering to implement and supervise the communications network as a part of the two companies 15-year contract, added Itron.
Expanding Presence in the Utility Sector Bodes Well
Itron is one of the well-known suppliers of a wide array of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, sensors, data analytics and services and software, devices, globally. The company also offers industrial IoT solutions to support utilities and municipalities to manage their critical infrastructure operations.
Itron has been striving towards expanding its presence on the back of reliable and efficient solutions in the utility sector.
In November 2021, Itron rolled out its first SaaS delivery program model, Itron Smart Pay, in North America. The solution will help utilities to make it easier for their customers to manage and pay their energy consumption bills.
Prior to that, Itron inked an agreement with England-based United Utilities to implement its cloud-based meter management solution named Temetra to aid in achieving operational optimization and boost customer management.
In June 2021, Itron also implemented a “grid-interactive” water heater program for Fort Collins Utilities to help the utility company lower energy usage.
Zacks Rank and Stocks to Consider
At present, Itron carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader technology sector include
Salesforce ( CRM Quick Quote CRM - Free Report) , Hewlett Packard ( HPE Quick Quote HPE - Free Report) and Microsoft ( MSFT Quick Quote MSFT - Free Report) . While Salesforce and Hewlett Packard sport a Zacks Rank #1 (Strong Buy), Microsoft carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Salesforce’s fiscal 2022 earnings is pegged at $4.68 per share, up 6.4% in the past 60 days. The long-term earnings growth rate of the company is pegged at 16.8%.
Salesforce’s earnings beat the Zacks Consensus Estimate in all of the preceding four quarters, the average surprise being 44.2%. Shares of the company have increased 4.6% in the past year.
The Zacks Consensus Estimate for Hewlett Packard’s fiscal 2022 earnings is pegged at $2.03 per share, unchanged in the past 60 days. The long-term earnings growth rate of the company is pegged at 5.8%.
Hewlett Packard’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.4%. Shares of the company have rallied 43.1% in the past year.
The Zacks Consensus Estimate for Microsoft’s fiscal 2022 earnings is pegged at $9.13 per share. The long-term earnings growth rate of the company is pegged at 12%.
Microsoft’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.8%. Shares of the company have surged 44.4% in the past year.