Itron Inc (ITRI) released its first quarter results on Monday, May 3, 2021. The company reported net earnings of $0.30 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 40 percent compared to the same period a year ago.
Itron, Inc. was incorporated in 1977 and is headquartered in Liberty Lake, Washington. Itron, Inc., a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes.
Itron's revenue decreased 16 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 34.62% for the first quarter compared to the same period in the previous year, and operating margins increased to 5.84% over the same period. Net earnings for past trailing twelve months were $-54.04 million, down 191% from the prior year.
Moving on to the balance sheet, Itron's cash levels jumped 4% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 33.4% this past year. The current ratio for Itron now stands at 1.39. The company increased shares outstanding by 1.26%.
Shares of ITRI are currently trading around $88.45. In terms of valuation, the stock is trading at a price to book ratio of 3.1.