Itron, Inc. reported financial results for the second quarter ended June 30, 2026. Revenue decreased 7% to $563 million, while annual recurring revenue increased 21% to $417 million. GAAP net income attributable to Itron was $53 million, or $1.19 per diluted share, compared to $68 million, or $1.47 per diluted share, in the prior year period. Adjusted EBITDA rose 8% to $97 million, and free cash flow was $81 million. The company raised its full-year 2026 non-GAAP diluted EPS outlook to between $6.30 and $6.50. Itron operates in the smart infrastructure sector, providing energy, water, and smart city solutions for utilities and municipalities.