Itron Investor Presentation
CONSOLIDATED GAAP RESULTS: Q1'23
$ in millions (except per share amounts)
Q1 2023
Q1 2022
Change
Revenue
$494.6
$475.3
4%
Change in constant currency
6%
Gross margin
31.6%
28.4%
320 bps
Operating income (loss)
($10.4)
$6.8
NM
Net income (loss) attributable to Itron, Inc.
Earnings (loss) per share - diluted
($11.8)
($0.26)
$0.9
NM
$0.02
NM
>> Revenue increased largely due to improving component supply, partially offset by foreign exchange rates
>> Gross margin of 31.6% up 320 bps due to favorable mix and operational efficiencies
>> GAAP operating income decreased due to a restructuring charge from the new plan announced in February, partially
offset by higher gross profit
>> GAAP net income decreased due to lower GAAP operating income
Reconciliation of GAAP to Non-GAAP results in Appendix and also available on our website.
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ITRI Itron Investor Presentation - May 2023
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