Itron Investor Presentation
CONSOLIDATED NON-GAAP & CASH RESULTS: Q1'23
$ in millions (except per share amounts)
Q1 2023
Q1 2022
Change
Non-GAAP operating income
$31.3
$9.3
237%
Non-GAAP operating margin
6.3%
2.0%
430 bps
Non-GAAP net income attributable to Itron, Inc.
$22.4
$5.2
333%
Adjusted EBITDA
$39.5
$18.9
109%
Adjusted EBITDA margin
8.0%
4.0%
400 bps
Non-GAAP earnings per share - diluted
$0.49
$0.11
345%
Net cash provided by operating activities
$1.4
$7.6
-81%
Free cash flow
($5.5)
$2.2
-346%
» Increase in non-GAAP operating income due to fall through of higher gross profit
>> Non-GAAP net income increased due to higher non-GAAP operating income and lower taxes
>> Free cash flow decreased due to working capital outflow, partially offset by higher non-GAAP EBITDA
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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