📊 Itron (NASDAQ: ITRI) continues its impressive run, reporting a 13% revenue growth in Q2 2024, reaching $609 million. With record-setting performance in its Networked Solutions segment, which brought in $413 million, Itron has achieved seven consecutive quarters of growth. For investors, this consistency signals a reliable opportunity for long-term gains.
💼 The company is efficiently managing its margins, with gross margin improving to 34.6%, up 250 basis points from last year. Operating income soared by 84%, highlighting Itron’s smart cost management and growing demand. For those familiar with Kiyosaki’s teachings, this is a textbook example of investing in a company that knows how to control its cash flow and increase profitability.
📈 Itron’s earnings per share (EPS) nearly doubled, reaching $1.21 compared to $0.65 last year. With a $4.1 billion backlog, the company is well-positioned for future growth. This backlog provides assurance that Itron will continue converting bookings into revenue, making it an attractive option for investors focused on long-term returns.
💡 Itron’s advanced grid-edge technology is crucial for utilities managing the rising demand for renewable energy and electric vehicles. These innovations help utilities handle complex challenges, making Itron a key player in the future of energy infrastructure. Investors should see this as a growing market where Itron’s solutions will continue to thrive.
💸 Financially, Itron is in a strong position. With $921 million in cash, the company has the flexibility to invest in future projects. Itron’s updated 2024 guidance predicts revenues up to $2.415 billion and non-GAAP EPS of $4.65. This combination of strong fundamentals and innovative technology makes Itron an attractive investment for those seeking growth.
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IMPORTANT: This article is of general nature only and readers should obtain advice specific to their circumstances from professional advisers.