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Itron (ITRI) Unveils IEE to Transform Utility Data Management
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Itron (ITRI - Free Report) introduced a cloud-based Meter Data Management platform, Itron Enterprise Edition (IEE) Cloud, which is designed to meet the evolving needs of utilities amid ongoing digitalization.
The platform is available on Microsoft Azure and other cloud platforms, which offers cost savings, reduces IT burden, and improves operational visibility. IEE Cloud allows utilities to customize processes without constant maintenance and easily integrate new capabilities like revenue assurance and transformer load management amid rising grid complexity driven by the energy transition, extreme weather and increased consumer demand.
IEE Cloud supports more complex energy systems and bridges the gap between utilities and technologies, enabling the energy transition. IEE Cloud offers flexibility and cost savings over on-premises solutions, allowing utilities to focus on their core business.
Additionally, IEE Cloud offers verification, integration, and analysis of data in a software-as-a-service solution across the utility enterprise, enhancing user experience through automation and advanced reporting tools.
Itron is a technology and services company and one of the leading global suppliers of a wide range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software, devices, sensors, data analytics and services to the utility and municipal sectors.
Accelerating trends in electrification, gas safety, energy transition, grid-edge digitalization and water efficiency are likely to drive demand for the company’s solutions going ahead. Management noted that utilities across the Asia-Pacific are working on improving grid stability and reliability.
In October 2023, the company unveiled its IEE Settlements, which will offer automated and auditable settlement calculations as well as customized reports to its users.
For 2023, management now projects revenues between $2.16 billion and $2.17 billion (earlier view: $2.11-$2.14 billion). Non-GAAP earnings per share (EPS) are estimated to be in the $2.83-$2.93 band (prior projection: $2.03-$2.28).
Currently, Itron carries a Zacks Rank #3 (Hold). Itron’s shares have rallied 34.8% in the past year compared with 8.7% growth of the sub-industry.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Cadence Design Systems (CDNS - Free Report) , Woodward (WWD - Free Report) and Watts Water Technologies (WTS - Free Report) . Cadence and Woodward sport a Zacks Rank #1 (Strong Buy), while Watts Water Technologies 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 Cadence’s 2024 EPS has improved 1.9% in the past 60 days to $5.87. CDNS’s long-term earnings growth rate is 17.1%.
Cadence’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.4%. Shares of CDNS have gained 49.9% in the past year.
The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has inched up 5.7% in the past 60 days to $5.20. WWD’s long-term earnings growth rate is 15.5%.
Woodward’s earnings beat the Zacks Consensus in each of the last four quarters, the average surprise being 27.2%. Shares of WWD have gained 38.5% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies fiscal 2024 EPS has improved 0.4% in the past 60 days to $8.35. WTS’s long-term earnings growth rate is 7.8%.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 13.5%. Shares of WTS have soared 12.6% in the past year.
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Itron (ITRI) Unveils IEE to Transform Utility Data Management
Itron (ITRI - Free Report) introduced a cloud-based Meter Data Management platform, Itron Enterprise Edition (IEE) Cloud, which is designed to meet the evolving needs of utilities amid ongoing digitalization.
The platform is available on Microsoft Azure and other cloud platforms, which offers cost savings, reduces IT burden, and improves operational visibility. IEE Cloud allows utilities to customize processes without constant maintenance and easily integrate new capabilities like revenue assurance and transformer load management amid rising grid complexity driven by the energy transition, extreme weather and increased consumer demand.
IEE Cloud supports more complex energy systems and bridges the gap between utilities and technologies, enabling the energy transition. IEE Cloud offers flexibility and cost savings over on-premises solutions, allowing utilities to focus on their core business.
Itron, Inc. Price and Consensus
Itron, Inc. price-consensus-chart | Itron, Inc. Quote
Additionally, IEE Cloud offers verification, integration, and analysis of data in a software-as-a-service solution across the utility enterprise, enhancing user experience through automation and advanced reporting tools.
Itron is a technology and services company and one of the leading global suppliers of a wide range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software, devices, sensors, data analytics and services to the utility and municipal sectors.
Accelerating trends in electrification, gas safety, energy transition, grid-edge digitalization and water efficiency are likely to drive demand for the company’s solutions going ahead. Management noted that utilities across the Asia-Pacific are working on improving grid stability and reliability.
In October 2023, the company unveiled its IEE Settlements, which will offer automated and auditable settlement calculations as well as customized reports to its users.
For 2023, management now projects revenues between $2.16 billion and $2.17 billion (earlier view: $2.11-$2.14 billion). Non-GAAP earnings per share (EPS) are estimated to be in the $2.83-$2.93 band (prior projection: $2.03-$2.28).
Currently, Itron carries a Zacks Rank #3 (Hold). Itron’s shares have rallied 34.8% in the past year compared with 8.7% growth of the sub-industry.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth considering in the broader technology space are Cadence Design Systems (CDNS - Free Report) , Woodward (WWD - Free Report) and Watts Water Technologies (WTS - Free Report) . Cadence and Woodward sport a Zacks Rank #1 (Strong Buy), while Watts Water Technologies 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 Cadence’s 2024 EPS has improved 1.9% in the past 60 days to $5.87. CDNS’s long-term earnings growth rate is 17.1%.
Cadence’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.4%. Shares of CDNS have gained 49.9% in the past year.
The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has inched up 5.7% in the past 60 days to $5.20. WWD’s long-term earnings growth rate is 15.5%.
Woodward’s earnings beat the Zacks Consensus in each of the last four quarters, the average surprise being 27.2%. Shares of WWD have gained 38.5% in the past year.
The Zacks Consensus Estimate for Watts Water Technologies fiscal 2024 EPS has improved 0.4% in the past 60 days to $8.35. WTS’s long-term earnings growth rate is 7.8%.
WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 13.5%. Shares of WTS have soared 12.6% in the past year.