NasdaqGS:ITRIElectronic
Itron (ITRI) Stock Drops As Record Margins Meet Softer Revenue Outlook
Itron just gave investors a hard reminder that margin stories can cut both ways. The stock dropped 4.4% today from a previous close of US$107.02 even though the Q2 headline was all about record profitability, not a collapse in the grid modernisation story. The company printed adjusted gross margin of about 41.4% and generated US$81 million of free cash flow, strong numbers for a utility technology supplier that still leans on project work.
The emotional hit is the softer top line and tight...