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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Revenues $ 615,462 $ 560,772 $ 1,827,973 $ 1,596,460
Cost of revenues        
Cost of revenues 405,864 373,569 1,202,536 1,078,942
Gross profit 209,598 187,203 625,437 517,518
Operating expenses        
Sales, general and administrative 79,639 76,576 254,023 231,176
Research and development 51,237 51,644 156,691 154,769
Amortization of intangible assets 4,814 4,663 13,311 14,433
Restructuring (723) (615) (624) 36,868
Loss on sale of business 698 45 656 675
Total operating expenses 135,665 132,313 424,057 437,921
Operating income 73,933 54,890 201,380 79,597
Other income (expense)        
Interest income 13,420 2,642 22,394 5,968
Interest expense (5,605) (2,445) (9,788) (6,479)
Other income (expense), net 677 646 695 (1,162)
Total other income (expense) 8,492 843 13,301 (1,673)
Income before income taxes 82,425 55,733 214,681 77,924
Income tax provision (3,515) (15,388) (32,124) (24,513)
Net income 78,910 40,345 182,557 53,411
Net income attributable to noncontrolling interests 951 173 1,559 874
Net income attributable to Itron, Inc. $ 77,959 $ 40,172 $ 180,998 $ 52,537
Earnings (loss) per common share - Basic (in dollars per share) $ 1.73 $ 0.88 $ 3.98 $ 1.16
Earnings (loss) per common share - Diluted (in dollars per share) $ 1.70 $ 0.87 $ 3.91 $ 1.15
Weighted average common shares outstanding - Basic (in shares) 44,982 45,462 45,458 45,393
Weighted average common shares outstanding - Diluted (in shares) 45,839 45,950 46,239 45,768
Product [Member]        
Revenues        
Revenues $ 538,249 $ 480,355 $ 1,598,978 $ 1,361,482
Cost of revenues        
Cost of revenues 362,579 332,035 1,076,033 951,666
Service [Member]        
Revenues        
Revenues 77,213 80,417 228,995 234,978
Cost of revenues        
Cost of revenues $ 43,285 $ 41,534 $ 126,503 $ 127,276