Itron just announced that it plans to rev up production capacity to meet expected demand for its smart meters with a new automation system. Yesterday, the company held a ribbon-cutting ceremony to show off its new OpenWay system at its production line in Westminster, New York. Itron is expecting an increased demand of its smart meters as a result of the stimulus, and the OpenWay system is designed to ensure that Itron can meet that … Read the rest
Tag Archives: ITRI
Tobin Smith Recommends 3 Green Stock "Hidden Gems"
I just came across an article written over a month ago by well known investment “guru” Tobin Smith, highlighting three “hidden gem” green stocks. The article highlights Itron (ITRI), VMware (VMW) and Echelon (ELON) as companies that could benefit big in the coming green energy revolution. Itron (ITRI) may be relatively unknown to the average investor, but considering it’s the big guy in the smart grid space, it’s quite well known to those with … Read the rest
Itron (ITRI) To Deploy Water & Electrical Smart Meters For Glendale Water & Power
Along with its earnings report today which beat expectations, Itron (ITRI) has announced a contract with California’s Glendale Water & Power to provide them with smart metering technology for both its water and electricity operations. No word on the financials but Glendale serves 120K customers. Itron’s OpenWay advanced metering system provides a two way communication between the meter and the utility, providing for data collection, use limitations, outage detection, remote metering and home networking … Read the rest
Itron (ITRI) Beats Lowered Expectations, Up AH
As I mentioned on Twitter today, I decided to take a shot at an Itron (ITRI) entry ahead of earnings after the bell today. Why? Last quarter, they missed badly and the stock gapped down. When you get a situation like that, analysts greatly lower expectations and the bad news gets built into the stock, setting up a greater likelihood of a relief rally on the next earnings report. Even if the company misses, … Read the rest
Itron Partners With Ambient On Smart Grid
Itron just announced that it is partnering with Ambient Corporation to integrate Itron’s smart grid and AMI components with Ambient’s smart grid communications platform. The partnership, created under a memorandum of understanding signed by both companies, will allow Itron and Ambient to join together and provide a complete smart grid system for utility customers.
The agreement will integrate Itron’s OpenWay advanced metering application with Ambient’s Smart Grid communications technology. This will enable legacy equipment to … Read the rest
Comverge (COMV) And Itron (ITRI) Announce Milestone in Collaboration
Comverge and Itron just announced that they have a reached a milestone in their smart grid collaboration. They have successfully integrated Comverge’s Apollo(TM) demand response platform with Itron’s Open Way(TM) advanced metering infrastructure. The integration will allow utilities to better communicate with energy management devices for demand response events and to manage demand on the grid during times of heavy usage.
In a press release, executives from both companies commented on the milestone:
“This … Read the rest
Columbia Gas Will Deploy Itron’s (ITRI) Smart Meters
Itron (ITRI) is announcing today that Columbia Gas of Ohio is going to deploy its smart metering technology across 1.4 million gas meters over the course of the next 5 years. Columbia Gas will deploy the 40GB Gas ERT modules and may implement the larger 100G series modules in selected areas which would allow for more frequent metering data collection.
“We’ve experienced success over the years with Itron solutions, and have come to rely on … Read the rest
Itron (ITRI) Pushes Lower AH On 2.75 Million Share Offering
Itron (ITRI), the smart grid gorilla, is selling off a bit after hours after announcing it is selling 2.75 million shares at 55.81/share. The company expects to use $125 million of the proceeds to repay a portion of outstanding non-convertible debt and the remainder for general corporate purposes. Canaccord Adams is the lead, book running manager while Stephens Inc is acting as co-manager on the deal which is expected to close around June 3rd. I … Read the rest
Itron (ITRI) Dismal Quarter, Down 9%
Companies involved in the smart grid should do very well in the future, but for now the behemoth in this space, Itron (ITRI) will have to wait to benefit. The company just reported an awful quarter reporting an EPS of .33/share missing estimates by .07/share on revenues of $389 million. That’s a 20% haircut on revenues over last year and a 60% plunge in earnings.
The CEO understated the poor the quarter, calling it “soft”. … Read the rest
Itron (ITRI) Subsidiary Actaris Gets Another Middle East Smart Metering Deal
Itron (ITRI) subsidiary Actaris announced this morning a deal with Abu Dhabi Water & Electricity Authority for 140K smart electricity meters which will be deployed across the Emirate of Abu Dhabi and fully integrated in an AMR fixed network . This is a follow on contract after a successful implementation of 60K meters that allows ADWEA to remotely access all metering and operating data and instantly vaults Actaris to the throne as the largest smart … Read the rest